<p>iGATE Corporation, on Wednesday, announced a 4 per cent increase in its net income for quarter ended December 2011 (YoY) at $15.3 million, compared to $14.7 million in the same quarter previous year.<br /><br /></p>.<p>The company’s net revenue for the quarter ended December 2011 was $267.7 million, a phenomenal 230 per cent year-on-year rise from $81 million in the same period previous year. Its adjusted EBITDA (Earnings Before Interest, Taxes Depreciation and Amortisation) for the fourth quarter stood at $68.1 million, compared to $23.4 million in the previous quarter previous year, a rise of 191 per cent. <br /><br />Briefing reporters, iGATE Patni CEO, Phaneesh Murthy said, “Fiscal year 2011 was a milestone year for iGATE Patni, with the combined entity ending the year with revenue run rate in excess of $1 billion. I am particularly happy with the way our integration with Patni has been going smoothly and at an accelerated pace ensuring value protection to all stakeholders.” <br /><br />Murthy added that they are seeing their differentiated outcomes-based business model is getting increased tractions and that almost all their top customers would be expanding work and programmes with them. <br /><br />The company has added 16 new clients in this quarter and is also planning to hire 2,000 employees in 2012- with 1,200 freshers and 800 experienced staff. The headcount was 26,523 employees as of December 2011.<br /><br />iGATE Patni has made a $120 million capital outlay for expansion of facilities in Bangalore, Pune and Mumbai and is also chasing two deals worth $200 million each.<br /></p>
<p>iGATE Corporation, on Wednesday, announced a 4 per cent increase in its net income for quarter ended December 2011 (YoY) at $15.3 million, compared to $14.7 million in the same quarter previous year.<br /><br /></p>.<p>The company’s net revenue for the quarter ended December 2011 was $267.7 million, a phenomenal 230 per cent year-on-year rise from $81 million in the same period previous year. Its adjusted EBITDA (Earnings Before Interest, Taxes Depreciation and Amortisation) for the fourth quarter stood at $68.1 million, compared to $23.4 million in the previous quarter previous year, a rise of 191 per cent. <br /><br />Briefing reporters, iGATE Patni CEO, Phaneesh Murthy said, “Fiscal year 2011 was a milestone year for iGATE Patni, with the combined entity ending the year with revenue run rate in excess of $1 billion. I am particularly happy with the way our integration with Patni has been going smoothly and at an accelerated pace ensuring value protection to all stakeholders.” <br /><br />Murthy added that they are seeing their differentiated outcomes-based business model is getting increased tractions and that almost all their top customers would be expanding work and programmes with them. <br /><br />The company has added 16 new clients in this quarter and is also planning to hire 2,000 employees in 2012- with 1,200 freshers and 800 experienced staff. The headcount was 26,523 employees as of December 2011.<br /><br />iGATE Patni has made a $120 million capital outlay for expansion of facilities in Bangalore, Pune and Mumbai and is also chasing two deals worth $200 million each.<br /></p>
