iGate posts negative profits for Q1

BANGALORE: iGate Global Solutions Ltd has posted a net loss of Rs 3.51 crore for

the quarter ended June 30, 2006 (Q1 FY 06-07) as compared to net profit of Rs

1.24 crore for the quarter ended June 30, 2005 (Q1 FY 05-06). Total Income has

increased from Rs 117.38 crore in Q1 FY 05-06 to Rs 163.85 crore for Q1 FY 06-07

with a growth of 39.5 per cent.






The group has posted a net profit for the period after Minority Interest of Rs
1.5 crore for the quarter ended June 30, 2006 (Q1 FY 06-07) as compared to Rs

1.42 crore for the quarter ended June 30, 2005 (Q1 FY 05-06). Total Income has

increased 23 per cent from Rs 1476.70 million in Q1 FY 05-06 to Rs 1814.90

million for Q1 FY 06-07.






“Clients we acquired in the Financial Services industry in the last 18 to 24
months are contributing to the growth of IGATE. Pleased with our investments in

creating IP, our domain expertise and execution abilities, select clients in

this space are fuelling our growth,” said Phaneesh Murthy, CEO, of the company.






© CyberMedia News