IGate registeres 30% growth, net profit up by 80%

Bangalore, Oct 11 (UNI) IGate Global solutions today announced a 30 per cent year on year growth for second quarter of current fiscal with net profits up by 80 per cent.

The company in a release here said during the quarter the revenue stood at Rs 202.6 crore as against Rs 155.8 crore for corresponding period last fiscal. Net profit at Rs 10.1 crore was 80 per cent more than the previous year's figure of Rs 5.6 crore for the second qurter.

The Company added 10 new clients during the quarter with the number of million dollar clients increasing to 26 from 23. It had increased the Company's stake in US based loan Pro LLC by 60 per cent and consolidated its position as a leading provider to the mortage industry offering both loan fulfillment and servicing mortgage clients.

Company CEO Phaneesh Murthy commenting on the performance said that the strong revenue growth was driven by healthy broadbased demand.

Existing clients were ramping up their business with Igate he said adding ''we have reached a good, sustainable growth model''.

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