it looks good when even in the difficult economic scenerio outsourcing firms put up good result in the stock market.
Nasdaq-listed Syntel, the business process outsourcing firm with operations in India, reported its second quarter results ended March 31, 2008.
The company’s net income for the second quarter ended June 30, 2008 was $17.4 million (Rs 74.8 crore) up 30.7 per cent compared to $13.3 million (Rs 57.2 crore) in the corresponding quarter last financial year.
For the first time the company’s revenue crossed the $100 million mark in a quarter. For the second quarter its revenue touched $103.4 million (Rs 444.6 crore) up 28.6 per cent from $80.4 million ( Rs.345.7 crores) in the prior-year period. Operating margins during the quarter were favorably impacted by depreciation in the Indian Rupee. source
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