IGate global Q4 net jumps fourfold; declares 60% dividend

IGate global Q4 net jumps fourfold; declares 60% dividend
Comment E-mail Print Share
First Published: Wed, Apr 11 2007. 04 49 PM IST
Updated: Wed, Apr 11 2007. 04 49 PM IST
PTI
Mumbai: Technology and operations firm, iGate Global Solutions today posted over four fold jump in net profit at Rs 21.42 crore for the quarter ended 31 March, as compared to Rs 5.25 crore for the same quarter last year.
The total income of the company increased by 29.91 % to Rs 196.05 crore for the fourth quarter ended 31 March, from Rs 150.91 crore a year ago, iGate Global informed the BSE.The company has declared a dividend of Rs 2.40 on shares of Rs 4 each (60 %) for the year ended 31 March.
For the year ended 31 March, the company posted a net profit of Rs 49.05 crore as compared to Rs 3.10 crore for the corresponding period a year ago and the total income increased to Rs 748.43 crore from Rs 563.87 crore for the same period.
“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,” iGate Global CEO Phaneesh Murthy said.
The group posted a net profit (after minority interest) of Rs 22.65 crore for the quarter ended 31 March, as compared to Rs 4.71 crore for the same quarter last year.
For the March quarter, the total income of the group increased to Rs 211.26 crore from Rs 167.09 crore.
“We continue to invest in our employees. In addition, this month, we will be increasing offshore and onsite salaries approximately by 15 % and 2 % respectively” he added.
For the year ended 31 March, the group posted a net profit of Rs 49.79 crore as compared to Rs 5.53 crore for the same period last year and the total income grew to Rs 805.69 crore from Rs 635.31 crore for the period under consideration.The shares of the company were trading at Rs 412.25, up 2.41 % on the BSE.
Comment E-mail Print Share
First Published: Wed, Apr 11 2007. 04 49 PM IST