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Anand Rathi Report
Firstsource Solutions Ltd. was faced with challenges in mortgages (22% of revenue) with 30- 40% declines expected ahead. Management expects stabilisation here by H2 FY23.
In the other divisions (78% of revenue), the outlook is bright with banking, financial services, telecoms and healthcare reporting growth.
Firstsource expects these divisions to deliver 18-22% growth in FY23, leading to overall 7-10% growth guidance.
Q1 is guided to be soft; estimates are lowered ~5%.
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