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Letter from the Chairman
Since my appointment as the Chairman of Firstsource Solutions, this is my first communication to Shareholders. I would like to send my warm greetings to all of you, while sharing the good news that your Company doubled its profit after taxation in FY 2012–13, which was not an easy year for India and the world. The year's excellent figures encourage me to expect still better performance in FY 2013–14.
Compared to the developed economies, the emerging markets are also determined to put up a better show, demonstrating remarkable resilience against unpredictable headwinds. Nearer home, the Indian economy, during FY 2012–13, grew at 5 percent despite multiple challenges, including fiscal deficit, firm interest rates, inflation and disappointing current account deficits.
As far as your Company is concerned, I am happy that we are reasonably well–positioned in all the market segments we serve, backed by a razor–edge focus on operational efficiencies, constant innovation and profitable expansion. At Firstsource, we are confident that this will result in higher operating margins with a cascading effect on de–leveraging balance sheets and ultimately create shareholder value.
I am indeed happy to report to you that internally there is resolute support from the management as also employees. We are, therefore, confident of delivering on your expectations in the coming years, as we continue to grow from strength to strength. Your Company's journey ahead appears exciting and we shall be counting on the support of all stakeholders.
I am grateful for the contribution of the outstanding individuals who sit with me on the Board of your Company. My thanks also to the committed management team for its very valuable and timely contribution. May I also thank you, dear Shareholder, for your continued trust in us. Together we shall be looking forward to a successful and profitable FY 2013–14 for our Company, which is now a valuable member of the RP–Sanjiv Goenka Group.
With best wishes,