IGATE Q3 revenues up 10%, net income grows marginally to $37.3 million

IT services company IGATE said its revenues rose 10 percent to $322.8 million in the third quarter ended September 30, 2014.

IGATE said its gross margin was 35.3 percent in Q3 2014 compared to 41.4 percent in the third quarter of 2013 and compared to 36.6 percent in the second quarter of 2014.

Net income grew marginally to $37.3 million from $31.9 million.

IGATE had net addition of 1,713 employees during the third quarter and currently its employee base stands at 34,455.

Ashok Vemuri, president and CEO, IGATE, said: “Our industry utility solutions, Reference Data Management Solution for the financial sector (IDMS) and our Long Term Care Solution for healthcare sector (IBAS), continue to find significant market traction and drive a differentiated industry value proposition.”

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