Syntel Inc FY 2009 revenue grows by 2 pc

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Mumbai, Feb 16: Pointing at the recovery in the offshoring industry, Syntel Inc posted a 12 per cent jump in its revenue on a Year on Year (YoY) basis.

The revenue for the Q4 ended Dec 31, 2009, stood at Rs 549 crore as against the Q4 revenue of Rs 488 crore in 2008, the global information technology services and Knowledge Process Outsourcing (KPO) firm said in a release on Tuesday, Feb 16.

“Our fourth quarter financials were indicative of an improving market for offshore services," said Syntel Chairman Bharat Desai.

The firm also announced the financial numbers for FY 2009. In the year 2009, Syntel Inc revenue surged 2 per cent to Rs 2,025 crore while the full year operating income expanded a whopping 27 per cent to Rs 573 crore.

“Given the economic climate we faced heading into 2009, Syntel is extremely pleased with our operational and financial performance during the year. Despite the challenges of a difficult business environment, the Company was able to post record revenues, margins, earnings per share and cash in 2009," Mr Desai added.

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