iGate Global Solutions Q3 net zooms 218%

iGate Global Solutions has reported a 218% jump in net profit to Rs 18.98 crore for the quarter ended December 31, 2004 as compared to Rs 5.96 crore in the preceeding quarter of the last fiscal.

According to a release issued to the BSE, the total income has increased 25% to Rs 124.85 crore for the quarter ended December 31, 2004 from Rs 100.14 crore in the Q3-03 to Rs 124.85 crore .

The group has posted a net profit of Rs 15.84 crore for the quarter ended December 31, 2004 as compared to a net loss of Rs 2.66 crore for the quarter ended December 31, 2003.

The total income has increased from Rs 145.36 crore in Q3-03 to Rs 157.80 crore for the quarter ended December 31, 2004.

Phaneesh Murthy, CEO, iGate Global Solutions, said "Over the past one year we have been building out the integrated technology and operations model, as we have felt that the pure labour-arbitrage based BPO is not sustainable. Two of our recent deals - one where we will be handling processes through the entire value chain of mortgages for a large financial services firm, and the other where we will be managing accounts payable for a contract manufacturing firm - validate our belief that clients will receive substantial and sustainable benefits if the underlying technology is treated as an integral part of the process being outsourced." .

IGate's business process consulting practice has seen increasing momentum with engagements in risk management, program management & customer experience consulting. Building on the expertise & knowledge in the area of supply chain measurement, we have commenced an engagement to define the store performance KPIs and build an organizational said map in the area of business intelligence & analytics.