UPDATE: iGate Posts Upbeat Q1 Profit

iGate Corp

reported a better-than-expected first-quarter profit. iGate's quarterly net income attributable to common shareholders climbed to around $17 million, or $0.22 per share, versus $15.2 million, or $0.22 per share, in the year-ago period. Excluding one-time items, iGate earned $0.38 per share. Its revenue climbed to $263.3 million. Analysts were expecting an adjusted profit of $0.32 per share on revenue of $270.3 million. iGate shares closed at $17.17 yesterday.