iGATE Global's Q1 net down 10%
BANGALORE: On a sequential basis (comparing Q1 with the Q4 ended March 31, 2003) the companys revenues showed a marginal increase of 1.1%, while the net profit showed a decline of 24.41%.
During Q1, the offshore contribution expanded to 21.3% compared to 18.5% in Q4.
In terms of geographies, the US market contributed 77.8% to the topline while Europe accounted for 9.3%.
In case of US market, the contribution actually fell 2.7% while Europe grew by 30.7%. Asia-Pacific grew by 9.1%, both the figures on a sequential basis.
In terms of client contribution, GE accounted for only 41% of the topline, while the next four clients brought in 20.7%. In fact, GEs contribution to the topline has declined 3.8%, while it has declined by 1.4% for the next four on a sequential basis.