iGate Global Solutions Ltd has announced the following Audited results for the quarter & year ended March 31, 2007:

The results for the Quarter ended March 31, 2007

The Company has posted a net profit of Rs 214.20 million for the quarter ended March 31, 2007 as compared to Rs 52.50 million for the quarter ended March 31, 2006. Total Income has increased from Rs 1509.10 million for the quarter ended March 31, 2006 to Rs 1960.50 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007

The Company has posted a net profit of Rs 490.50 million for the year ended March 31, 2007 as compared to Rs 31.00 million for the year ended March 31, 2006. Total Income has increased from Rs 5638.70 million for the year ended March 31, 2006 to Rs 7484.30 million for the year ended March 31, 2007.

The Consolidated results are as follows:

The consolidated results for the Quarter ended March 31, 2007

The Group has posted a net profit (after minority interest) of Rs 226.50 million for the quarter ended March 31, 2007 as compared to Rs 47.10 million for the quarter ended March 31, 2006. Total Income has increased from Rs 1670.90 million for the quarter ended March 31, 2006 to Rs 2112.60 million for the quarter ended March 31, 2007.

The consolidated results for the Year ended March 31, 2007

The Group has posted a net profit (after minority interest) of Rs 497.90 million for the year ended March 31, 2007 as compared to Rs 55.30 million for the year ended March 31, 2006. Total Income has increased from Rs 6353.10 million for the year ended March 31, 2006 to Rs 8056.90 million for the year ended March 31, 2007.

The Directors have recommended a dividend of 60% (previous year 30%) amounting to Rs 75875 thousand for the year ended March 31, 2007. Further, they have transferred a sum of Rs 46785 thousand to General Reserve and the balance of Rs 731947 thousand carried forward to the Balance Sheet.

"FY07 witnessed ramp ups in some of our strategic accounts helping us grow revenue and deliver a robust year-on-year growth in net profit. We are also glad that we were able to reach our FY07 Q4 EBITDA margin goal of 15%," said Phaneesh Murthy, CEO, of the Company.

"We continue to invest in our employees, with the Board approving a new Restricted Stock programme to cover a wider employee base. In addition, this month, we will be increasing offshore and onsite salaries approximately by 15% and 2% respectively" he added.

The stock closed on Tuesday at Rs.402.55, up by Rs.21.50 or 5.64%. The total traded quantity was 46489 shares compared to 2 week average of 8217. The stock hit an intraday high of Rs.424.35 and low of Rs.384.