Firstsource Solutions reported a phenomenal rise in its standalone net profit for the second quarter ended September 2008. During the quarter, the profit of the company rose 74.46% to Rs 269.70 million from Rs 154.59 million in the same quarter, previous year.

Net sales for the quarter rose 14.94% to Rs 1,383.24 million, while total income for the quarter rose 13.85% to Rs 1,425.97 million, when compared with the prior year period.

The company reported earnings of Rs 0.63 a share during the quarter, registering 75% growth over previous year period.

During the quarter, interest cost increased 3.67 times to Rs 85.14 million while depreciation cost fell 15.33% to Rs 119.93 million over previous year period.

Firstsource Solutions is among India`s leading BPO companies providing business process management to Fortune 500 and FTSE 100 companies in the banking and financial services (credit cards, insurance, retail banking, collections and mortgage companies), telecommunication and media (fixed line, mobile, broadband and narrowband service providers) and healthcare (pay or companies) industries.

Shares of the company gained Rs 1.1, or 7.21%, to settle at Rs 16. The total volume of shares traded was 336,560 at the BSE (Monday).