Technology

IGate GS blames BPO operation for Q3 loss

IGate Global Solutions, the offshore development arm of US IT services company iGate Corp, said that a lack of "critical mass" in its business process outsourcing and call center operations drove it into the red in its third fiscal quarter.

CBR Staff Writer January 21, 2004

Bangalore, India-based IGate GS made a net loss of INR 26.5m ($580,000) in the three months to December 31, 2003, compared to a net profit of INR 35.6m ($780,000) in the year-ago quarter.

Revenue grew 46% to INR 1.43bn ($31.5m), and CEO Phaneesh Murthy said a new $20m contract award with ING Vysya Bank, and the renewal of a major contract with General Electric during the third quarter would help its financial performance in its next fiscal year.

This article is based on material originally published by ComputerWire

More Relevant

Technology

Survey finds only 27% of executives see tech fully aligning with business goals

Technology

Half of CEOs report fragmented tech systems amid rapid investment, survey finds

Digital economy

How justfly.com defines a “user-centred” travel solution

Partner content

Power of the possible: Why enterprises can no longer afford to delay GenAI initiatives

Sign up to the newsletter: In Brief

Your corporate email address *

First name *

Last name *

Company name *

Job title *

Vist our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the Progressive Media network.

Sign up for our regular news round-up!

Sign up for our weekly news round-up!

Sign up to the newsletter: In Brief

I would also like to subscribe to:

Thank you for subscribing