By IANS
Bangalore : One of the leading technology firms, iGATE Global Solutions, has posted net profit of Rs.290 million during the third quarter (October-December) of this fiscal (2007-08).
The firm has registered year-on-year growth of 80 percent over the same period last fiscal (2006-07) at Rs.160 million.
In a statement here Wednesday, iGate said top-line revenue, however, dipped marginally to Rs 2.09 billion in this quarter (Q3) from Rs 2.1 billion in the same period of last fiscal, posting a flat growth year on year.
Earnings per share (EPS) jumped to Rs.9 from Rs.5 year on year.
“We are on track in posting good earnings during the quarter under review. Operating profit at Rs.361 million is 38 percent up over the same quarter of the last fiscal at Rs 270 million,” iGate CEO Phaneesh Murthy said.
“Our revenues are getting better and we are looking at another good sequential quarter (January-March, 2008).”
In a related development, the company applied for de-listing during the quarter. Its US-based parent firm – iGate Corp. has increased its holding in the Indian subsidiary to 93 percent through the reverse book-building process.