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Mumbai-based human resources solutions provider Frontline Business Solutions (FBSL: IN) reported net sales of RUP 42.4 million (USD 679,967) for the three months ending 30 September 2013, a drop of -21.2% compared with RUP 53.8 million (USD 862,788) for the same period last year.
The company report a net profit of RUP 380,000 (USD 6,094) for the third quarter, a substantial drop of -94.6% from RUP 7 million (USD 112,259) from the same three month period a year ago.
During the period, the company experienced a +64% increase in employee benefit expenses and an almost +200% increase in other unspecified costs.
Frontline Business Solutions provides business solutions primarily in the areas of sales and marketing, and human resources in India. It offers outsourcing services, including staffing solutions in the telecom, insurance, banking, and financial sectors.
Despite the falls in revenue and profit, in trading today, the company’s share price rose by +1.75% to RUP 2.90 (USD 0.05), a fall of -96.7% compared with a year ago. Based on its current share price, the company has a market value of RUP 61.8 million (USD 991,083).