IT services company IGATE Q3 revenue jumps 3.5% sequentially

MUMBAI: US-listed IT services company IGATE Corp reported a 3.5% sequential jump in revenue as it benefited from broad-based growth and changes being implemented by its chief executive Ashok Vemuri.

Revenue rose to $322.8 million for the quarter ended Sept 30. Net income rose to $37.3 million and the company paid down $126 million of debt in the same period.

“I am pleased that we are able to sustain our broad-based growth both sequentially as well as year over year. Our clients are responding positively to the changes we have implemented in the company,” CEO Vemuri said in a statement.

Since Vemuri took over the helm at the company he has been revamping the sales structure and exiting non-core businesses and accounts in a bid to boost growth.