IT services firm Syntel today reported a 24.8 per cent rise in net profit at $59.3 million for the second quarter ended June 30, 2014.
The NASDAQ-listed firm had posted a net profit of $47.5 million in the year-ago period, it said in a release.
Revenue for the second quarter rose by 13 per cent to $228.3 million against to $202.5 million in the second quarter of 2014. It follows January-December fiscal.
The NASDAQ-listed firm had posted a net profit of $47.5 million in the year-ago period, it said in a release.
Revenue for the second quarter rose by 13 per cent to $228.3 million against to $202.5 million in the second quarter of 2014. It follows January-December fiscal.
Its revenue increased by four per cent sequentially from $219.5 million in the first quarter of 2014.
During the April-June quarter, Banking and Financial Services accounted for 49 per cent of total revenue, with Healthcare and Life Sciences at 17 per cent, Retail, Logistics and Telecom at 16 per cent, Insurance at 15 per cent and Manufacturing at three per cent.
During the April-June quarter, Banking and Financial Services accounted for 49 per cent of total revenue, with Healthcare and Life Sciences at 17 per cent, Retail, Logistics and Telecom at 16 per cent, Insurance at 15 per cent and Manufacturing at three per cent.
During Q2, Syntel spent $4.3 million in CAPEX, largely in support of campus infrastructure, and finished the quarter with cash and short-term investments of $769.8 million.
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