Oct 10, 2013, 11.02 PM IST
With iGate posting a better-than-expected results in the third quarter, CEO of iGate has brought much needed relief to the shareholders of the information technology services provider.
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After Infosys, Vemuri set to steer iGate growth story?
With iGate posting a better-than-expected results in the third quarter, CEO of iGate has brought much needed relief to the shareholders of the information technology services provider.
Like this story, share it with millions of investors on M3
After Infosys, Vemuri set to steer iGate growth story?
With iGate posting a better-than-expected results in the third quarter, CEO of iGate has brought much needed relief to the shareholders of the information technology services provider.
In his first earnings as CEO of iGate, Ashok Vemuri has managed to surprise the street. iGate, on Thursday, posted a better-than-expected set of numbers for its third quarter of calendar year 2013. It registered a 3.6 percent sequential jump in revenues at USD 293.4 million and 6.3 percent jump in net income at USD 31.9 million. If Vemuri's words are anything to go buy, the road only gets better.
In a media conference call after the earnings, Vemuri said that he believed that iGate was at an infliction point in its growth. "I believe that iGate is well positioned to capitalise opportunity in the market. I am excited to have joined iGate as president and CEO and believe that it has a smart and capable team to drive the company forward;" he said.
Vemuri also said that the company has signed some large deals recently and is confident that the business environment is improving. He also said that the European revenues shares have increased due to ramp ups in the last quarter and that iGate was working towards developing near shore data centers in order to be closer to the clients.
After the rather controversial exit of Phaneesh Murthy, who was asked to leave the company due to alleged charges of sexual harassment, Vemuri's confidence brings must needed relief to iGate shareholders.
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