iGate clocks Rs 29 cr net profit in Q3

Bangalore, Jan 9 (UNI) iGATE Global Soloutions, the integrated technology and operations company posted a jump of more than 80 per cent in its net profits to Rs 29 crore from Rs 16 crore during the third quarter ending December 31.

The company registered a nine per cent increase in its gross profit to Rs 71.7 crore from Rs 65.8 crore, a release said here today.

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 crore.

iGATE CEO Phannesh Murthy said the delisting process has been smooth. iGATE corp currently holds 93.44 per cent of the outstanding capital of iGATE Global Solutions crossing the threshold of 90 per cent comfortably through the reverse book building process, the release added.

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