IGATE witnesses over 80 pc rise in its net profits

Bangalore, Jan 9: iGATE Global Soloutions, the integrated technology and operations company registered over 80 per cent jump in its net profits to Rs 29 crore from Rs 16 crore during the third quarter ending December 31.

A press release said here today that the company witnessed a nine per cent increase in its gross profit to Rs 71.7 crore from Rs 65.8 crore. It also saw a whopping 93 per cent rise in Profit Before Tax to Rs 30.3 crore from Rs 15.6 crore. However, its revenue fell marginally to Rs 209.3 crore from Rs 210.7, the press release said. iGATE CEO Phannesh Murthy said that the delisting process has been a smooth one, iGATE corp now holds a 93.44 per cent of the outstanding capital of iGATE Global Solutions crossing the threshold of 90 per cent comfortably through the revers book builing process.

UNI