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The Nasdaq-listed firm had a revenue of USD 55.6 million in the March quarter of FY'08, it said in a statement. "Our revenue and net income were down...(as) a large part of our business comes from the financial services -- the sector worst hit by recession... (also) most of our revenues come from the US -- which is also hit by recession," iGate Corporation CEO Phaneesh Murthy told PTI. Net income from continuing operations was at USD 5 million, compared to USD 6.4 million in the same period last fiscal, the integrated technology and operations firm said. During the quarter, the company added five new customers. As of March 2009, the company had 6,492 employees, the statement added. "While we are engaged actively in several conversations with both clients and prospects, slow decision making has impacted closures," Murthy said. During the March quarter, the company's operating margin rose to 12.5 per cent of the revenue, from 9.9 per cent in the same period last year. Shares of iGate closed with a gain of 13.67 per cent at USD 3.41 on the Nasdaq. For full details for IGTEE click here.
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