Software solutions provider, iGate Global Solutions Ltd on Wednesday posted a net loss of Rs 3.51 crore (Rs 15.1 million) for the quarter ended June 30, as compared to net profit of Rs 1.24 crore (Rs 12.4 million) for the corresponding quarter in 2005-06.
The total income increased 39.58 per cent to Rs 163.85 crore (Rs 1.64 billion) for the first quarter ended June 30 as against Rs 117.38 crore (Rs 1.17 billion) in 2005-06, the company informed the Bombay Stock Exchange.
"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.
The group posted a net profit for the period after minority interest at Rs 1.05 crore (Rs 10.5 million) for the quarter ended June 30, as compared to Rs 1.42 crore (Rs 14.2 million) for the same quarter in 2005-06.
The total income of the group increased to Rs 181.49 crore (Rs 1.81 billion) for the first quarter of 2006-07 from Rs 147.67 crore (Rs 1.48 billion) in the corresponding quarter in 2005-06.
The shares of the company were trading at Rs 191.10, down 2.48 per cent at the Bombay Stock Exchange.