Syntel Q4 net income up 19.5% y-o-y

IT services and knowledge process outsourcing company Syntel reported net income of Rs 63.6 crore ($15.9 million at the dollar conversion of Rs 40) for the fourth quarter ended December 31, 2007, a rise of 19.5 per cent from Rs 53.2 crore ($13.3 million) for the same quarter last year.

Its revenues were up 28.6 per cent at Rs 376 crore ($94 million) from Rs 292 crore ($73.1 million).

On a sequential (quarter-on-quarter) basis, the company's net income dipped 13 per cent from Rs 73.2 crore ($18.3 million) and revenues went up by 7 per cent from Rs 351.6 crore ($87.9 million).

The net income for the full year, 2007, grew 23.5 per cent to Rs 251.6 crore ($62.9 million) from last year's Rs 203.6 crore ($50.9 million).