Syntel net up in Q3

Syntel Incs revenue for the third quarter of the current fiscal increased one per cent to $104.7 million (Rs 506 crore) compared to $103.8 million (Rs 502 crore) in the corresponding period a year ago.

Syntel Incs revenue for the third quarter of the current fiscal increased one per cent to $104.7 million (Rs 506 crore) compared to $103.8 million (Rs 502 crore) in the corresponding period a year ago.

It increased five per cent sequentially from $100.1 million (Rs 484 crore) in the second quarter of 2009.

During the third quarter,applications outsourcing accounted for 74 per cent of total revenue,with Knowledge Process Outsourcing (KPO) at 18 per cent,while e-Business contributed six per cent and Team Sourcing stood at two per cent.

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Net income for the third quarter was $30.3 million (Rs 147 crore) compared to $22.1 million (Rs 107 crore) or $0.54 per diluted share in the prior-year period. During the third quarter,Syntel added eight clients,said a press release.

Increasing stability in the business environment and a gradual improvement in customer confidence had a positive effect on our top line during the third quarter, said companys chief executive officer and president Keshav Murugesh,said in the release.

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