Syntel earns Rs 355.3 crore in 3rd quarter

Chennai, Oct 29 (UNI) Syntel, a global Information Technology (IT) services and Business Process Outsourcing (BPO) has earned a total revenue of Rs 355.3 crore in the third quarter, ended September 30, 2007.

A Company release here today said the revenue was 27 per cent more, compared to the revenue in the same period last year (Rs 279.7 crore).

The Company's gross margin was 39.8 per cent in the third quarter, compared to 38.4 per cent in the prior-year period and 38.2 percent in the second quarter of 2007, it said.

During the third quarter, Syntel's focus area of Applications Outsourcing accounted for 66 per cent of total revenue, with BPO contributing 18 per cent, e-Business at 11 per cent and Team Sourcing at five per cent, it said.

The Company's Selling, General and Administrative (SG&A) expenses were 20.9 per cent in the third quarter of 2007, compared to 18.9 per cent in the prior-year period and 20.1 per cent in the second quarter of 2007.

Syntel's income from operations was 19 per cent in the third quarter, compared to 19.5 per cent in the prior-year period and 18 per cent in the second quarter of 2007.

During the third quarter, Syntel added eight new clients and launched 86 new engagements. In addition, the Company added two new "Hunting Licenses" or Preferred Partnership Agreements, taking the total to 86, the release said.

UNI