iGate net at Rs 1.1cr
iGate Global Solutions' net profit was Rs 1.1 crore in the quarter ended June 30. Revenue during the reporting period was Rs 181.6 crore. The company has signed four customers during the quarter to take the number of clients to 101. iGgate has recently recruited 264 employees. The company is building the third phase of its campus in Bangalore, which will have 900 seats and it will be operational by March 2007.
Shivalik Global Ltd's operating profit for 2005-06 rose 8 per cent to Rs 24.42 crore from Rs 22.57 crore in 2004-05. Profit after tax was Rs 7.14 crore against Rs 6.08 crore in the previous fiscal.
Zenith Birla (India) Ltd's net profit after tax for the year ended March 31 was Rs 10.32 crore. The company's net income was Rs 311.6 crore. The board has recommended a dividend of 6 per cent.
IBM systems has 240 of the 500 most powerful supercomputers in the world, with more than half the total processing power, according to the just-released TOP500 Supercomputer Sites list.
Max New York
Max New York Life has received the annual Indo'American Corporate Excellence Award under the best Indo-US company in the financial services category.
CSS Group has set up its subsidiary, CSS Software India, which will target the Indian IT services market. The company plans to open 12 offices in India over the next three-six months.
Sierra Atlantic will strengthen its financial services offerings in the areas of customer data integration, business process-based integration and privacy-related solutions.
Ganesh Wheat Products has set up a 200-million-tonnes-per-day wheat and rice flour mill at Howrah. The group has earmarked an investment of Rs 10 crore for the plant.