Mascot gets infotech orders worth $3.3 m.

BANGALORE: Indian software services firm Mascot Systems Ltd. said on Thursday

it had signed multiple contracts worth $3.3 million to outsource information

technology (IT) requirements of a leading international IT firm.

Mascot, a subsidiary of US-based software firm iGATE Capital Corp., did not

name the international client.

The company said a substantial part of the $3.3 million revenues are expected

to come over the next seven to eight months.

"The execution of the projects will involve significant contribution out

of Mascot's Indian offshore development centers," the statement said.

Shares of Mascot ended 7.8 per cent lower at Rs 94 at the Bombay exchange on

Thursday while the Bombay Stock Exchange IT index shed 4.63 per cent.

Mascot reported total revenues of Rs 1.02 billion ($21.8 million) in the

October-December quarter.

(C) Reuters Limited 2001.