iGATE net up 20 %

May 06, 2015 02:41 am | Updated 02:41 am IST - BENGALURU:

The U.S.-based mid-sized IT services company iGATE on Tuesday said its net profits witnessed a growth of 20 per cent to $38 million, for the first quarter ended March 31, 2015, when compared to the same period last year.

The total revenue stood at $322.0 million, up 6.6 per cent when compared to the same period last year. On a sequential basis, the net revenue witnessed a decline of 2.9 per cent due to forex impact and one-time revenue gain in the December-ended quarter.

On a sequential basis, net profits were flat for IGATE which recently has decided to merge with Capgemini.

15 new clients

Commenting on the results, Ashok Vemuri, President and CEO, said: “The company increased revenues, delivered margin improvement, added a good number of new clients and has made significant investments around tools, methodology, automation and program management which abodes well for the future.” During the first quarter iGATE added 15 new clients.

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