<p>iGATE on Wednesday reported net profit of $30 million in Q2, 2013, an increase of 136 per cent compared to $12.7 million it had reported in the same quarter last year.<br /><br /></p>.<p>The company said in a statement that its revenues stood at $283.3 million in Q2, 2013 compared to $268.0 million in Q2, 2012, showing an increase of 6 per cent.<br /><br />iGATE Chief Executive Officer Gerhard Watzinger said, “I am pleased with our performance in the second quarter with revenue growing 3 per cent sequentially. We booked orders worth over $600 million including three significant multi-year contracts each valued at $100 million or greater.”<br /><br />Among the contracts won by iGATE was a multi-year contract with a leading telecom provider in Europe worth approximately $100 million to transform the company’s IT infrastructure and rationalise its vendor landscape in the region.<br /><br />iGATE CFO Sujit Sircar said on the currency fluctuation, “The tailwinds provided by the rupee fluctuation against the US dollar appear to be short-lived with the operating costs going up in the medium to long term.”</p>
<p>iGATE on Wednesday reported net profit of $30 million in Q2, 2013, an increase of 136 per cent compared to $12.7 million it had reported in the same quarter last year.<br /><br /></p>.<p>The company said in a statement that its revenues stood at $283.3 million in Q2, 2013 compared to $268.0 million in Q2, 2012, showing an increase of 6 per cent.<br /><br />iGATE Chief Executive Officer Gerhard Watzinger said, “I am pleased with our performance in the second quarter with revenue growing 3 per cent sequentially. We booked orders worth over $600 million including three significant multi-year contracts each valued at $100 million or greater.”<br /><br />Among the contracts won by iGATE was a multi-year contract with a leading telecom provider in Europe worth approximately $100 million to transform the company’s IT infrastructure and rationalise its vendor landscape in the region.<br /><br />iGATE CFO Sujit Sircar said on the currency fluctuation, “The tailwinds provided by the rupee fluctuation against the US dollar appear to be short-lived with the operating costs going up in the medium to long term.”</p>
