iGATE Q2 revenues up 57 per cent

iGATE Corporation announced on Friday that it earned revenues of $268 million in the second quarter ended June 30, 2012, an increase of 57.3 per cent on an annualised basis. The company reported a net profit of $12.5 million, an increase of 218 per cent.

Gross margins improved by 2.7 percantage points . Company CFO Sujit Sircar said after the delisting process, the company’s holding in Patni Computers now stood at 96.9 per cent.

Steady growth

CEO Phaneesh Murthy said despite the “headwinds” of currency fluctuations, iGATE was “well placed for steady growth in revenues and margins.”