iGate Q3 net profit up 12.7%

iGATE added eight new customers during the third quarter.

Written by Press Trust Of India | New Delhi | Published: October 11, 2013 2:39:29 am

Outsourcing firm iGate on Thursday reported a 12.7 per cent increase in its net income at $31.9 million for the third quarter ended September 30,2013.

The California-based firm had posted a net income of $28.3 million in the year-ago period,iGate said in a filing to the US Securities and Exchange Commission (SEC) on Thursday.

Its revenues rose by 8.2 per cent to $293.4 million in the July-September quarter in 2013 against $271.1 million in the same quarter in 2012.

In the April-June 2013 quarter,iGate’s net income stood at $30 million,while,revenues were at $283.3 million.

iGate CEO and President Ashok Vemuri said: “I am pleased with our ability to accelerate revenue growth both sequentially and year-over-year. I am also happy with the quality of deals we are winning that are longer-term in nature with focus on innovation and productivity gains to our customers.”

iGATE added eight new customers during the third quarter,the firm said.

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