iGate Q3 consolidated net drops 92%

iGate Global Solutions today reported a 91.79% decline in consolidated net profit at Rs 1.30 crore for the quarter ended December 31, 2005 as against Rs 15.84 crore in Q3FY05.

According to a release issued by the company to the BSE today, total income increased to Rs 164.35 crore in the quarter ended December 31, 2005 from Rs 157.80 crore in Q3FY05.

"Figures for the corresponding periods of the previous year include profit on sale of assets of Rs 15.64 crore," the release added.

Phaneesh Murthy, CEO of iGate, said: "Our existing customers, pleased with our execution, are contributing to our growth. We have put in place significant expansion plans in Canada and Japan. We also had an exciting new iTOPS win from a New York- based Tier 1 asset management firm to provide an integrated solution in the fund administration area."