News: iGate: good results, but gains may be limited

Strategic HR

iGate: good results, but gains may be limited

Shares of iGate Corp. have risen by as much as 28%, Mint reported. The company’s September quarter results have also been positive. According to the report, its revenues rose by 3.6% sequentially to $293.4 million. Annual growth rose from 5% in the first six months of the year to 8.2% in the September quarter.

Shares of iGate Corp. have risen by as much as 28%, Mint reported. The company’s September quarter results have also been positive. According to the report, its revenues rose by 3.6% sequentially to $293.4 million. Annual growth rose from 5% in the first six months of the year to 8.2% in the September quarter.

However, the report says, given the relatively small size of the company, it doesn’t make sense to extrapolate any of this for the information technology industry. Besides, growth was largely driven by the Europe, Middle East and Africa regions, which, according to an analyst, was owing to the impact of certain large orders. According to another report, new iGate Corp chief executive Ashok Vemuri said iGate would take at least three-four more quarters o return to strong double digit growth.

Read the complete report here

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Topics: Strategic HR, #Updates, #Corporate

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