iGate Q1 consolidated net at Rs 1.05cr

iGate Global Solutions today posted a consolidated net profit of Rs 1.05 crore for the quarter ended June 30, 2006 as against Rs 1.42 crore in Q1FY06.

Total income of the group increased to Rs 181.49 crore for the first quarter of 2006-07 from Rs 147.67 crore in the corresponding quarter in 2005-06.

The company, on a stand-alone basis, reported a net loss of Rs 3.51 crore for the quarter ended June 30 as compared to a net profit of Rs 1.24 crore for the corresponding quarter in 2005-06. Total income increased to Rs 163.85 crore from Rs 117.38 crore in Q1FY06.

"Clients we acquired in the financial services industry in the last 18 to 24 months are contributing to the growth of iGate. Pleased with our investments in creating IP, our domain expertise and execution abilities, select clients in this space are fuelling our growth," iGate Global Solutions CEO Phaneesh Murthy said.