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iGate Q1 net loss at Rs 3.51 Cr
By agencies
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Wednesday, 12 July 2006, 19:30 IST
BANGALORE: Software services company iGate Global Solutions Ltd today posted a net loss of Rs 3.51 crore for the quarter ended June 30, as opposed to net profit of Rs 1.24 crore for the corresponding quarter in 2005-06.
The total income increased 39.58 percent to Rs 163.85 crore for the first quarter ended June 30 as against Rs 117.38 crore in 2005-06.
iGate CEO Phaneesh Murthy said, "Clients we acquired in the Financial Services industry in the last 18 to 24 months are contributing to the growth of IGATE. Pleased with our investments in creating IP, our domain expertise and execution abilities, select clients in this space are fuelling our growth."
The group posted a net profit for the period after minority interest at Rs 1.05 crore for the quarter ended June 30, as compared to Rs 1.42 crore for the same quarter in 2005-06.
The total income of the group increased to Rs 181.49 crore for the first quarter of 2006-07 from Rs 147.67 crore in the corresponding quarter in 2005-06.