2026-08-12 23:41:18
Latest Post
Enviro Infra Engineers Reports 49.1% Revenue Growth to ₹ 3,592 Million in Q1 FY27; PAT Rises 6.5% to ₹ 452 Million
Wanbury Limited Reports Q1 FY27 Revenue of ₹165.6 Crore; Refinances ₹205 Crore Debt to Cut Interest Costs
Popular Vehicles & Services Reports 44.6% YoY Revenue Growth to ₹1,903.1 Crore in Q1 FY27; Turns Profitable with ₹1.4 Crore PAT
Hirect Limited Reports 20.3% Revenue Growth in Q1 FY27; Standalone Net Profit Up 17.8% Amid Global Expansion
Delton Cables reports highest ever first quarterly Revenue, EBITDA & PAT
Stock Report
iGATE Global Solutions reports revenue of Rs 805.1 crore for FY07
Posted On : 2007-04-11 05:28:20( TIMEZONE : IST )
- Records 26.6% revenue growth and a 805.5% jump in Net Profit
- Board recommends 60% dividend
Bangalore, India, 11 April, 2007: iGATE Global Solutions (iGATE), the integrated Technology and Operations (iTOPS) company today announced its financial results for the fourth quarter and year
ended March 31, 2007.
Revenue for the year ended March 31, 2007 grew 26.6% to Rs 805.1 crore, compared to Rs 635.8 crore in the previous year. Net profit for FY07 increased to Rs 49.8 crore, up 805.5% from Rs 5.5 crore made in FY06. EPS grew to Rs 15.97 from Rs 1.87 in FY06.
Revenue for Q4 FY07 was Rs 210.1 crore, up 25.5% compared to Rs 167.4 crore in the corresponding quarter previous year. Net profit for Q4FY07 increased to Rs 22.6 crore, up 381% from Rs 4.7 crore in Q4 FY06. Operating revenue for the quarter was adversely impacted by 2.1% due to the strengthening of the Rupee against the US Dollar.
"FY07 witnessed ramp ups in some of our strategic accounts helping us grow revenue and deliver a robust year-on-year growth in net profit. We are also glad that we were able to reach our FY07 Q4 EBITDA margin goal of 15%," said Phaneesh Murthy, CEO, iGATE Global Solutions.
"We continue to invest in our employees, with the Board approving a new Restricted Stock programme to cover a wider employee base. In addition, this month, we will be increasing offshore and onsite salaries approximately by 15% and 2% respectively" he added.
During Q4 FY07 iGATE executed a number of interesting projects and added 6 new clients largely for IT services. iGATE outsourced and set up a Test and Quality Assurance environment for a large financial institution to cover various aspects of testing and independent validation.
Mohan Sekhar, Member of the Board and Chief Delivery Officer, iGATE Global Solutions said, "Unfortunately, many of our clients in the mortgage industry have been severely impacted by the US non-prime mortgage meltdown. Consequently, as a leading provider of services to the mortgage industry, our revenues from loan fulfillment process has been adversely impacted. We expect this sluggishness to continue in the first quarter."
