iGate Corp, the Nasdaq-listed software company today posted a 22 per cent rise in quarterly net profit at $6.1 million supported by cost controls but its revenue slumped on a year-on-year basis.
Revenue from continuing operations for the reported quarter stands at $46.8 million, compared to $44.8 million in the previous quarter and $56.2 million in the same period last year, the company said. The revenue fell by 16.72 per cent on y-o-y basis, however, it grew sequentially.
IGate CEO Phaneesh Murthy said, "We grew revenue and profit for the quarter in a difficult economic environment. With the market conditions continuing to be challenging, we are digging deep to help our clients reach the next level of efficiencies and values."
"We had a better operating margin for our second quarter due to revenue growth and effective cost controls," iGate Chief Financial Officer Sujit Sircar said.
Gross profit margins for the quarter rose to 38.2 per cent from 35.3 per cent last year. Three new customers were added during the quarter. There were 6,430 employees as on June 30, 2009.
