US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
Going ahead iGate will have to maintain a healthy order book to sustain growth.
Within six months of joining iGate as CEO, Ashok Vemuri will get a performance bonus of $175,000 (about Rs 1.10 crore) for his strategic initiatives, which helped the US-based outsourcer grow revenues by over 10 per cent in the December quarter.
iGate has been hit with another sexual harassment suit by an ex-employee.
For the September quarter, the company reported 16.92 per cent year-on-year growth in net profit, at $37.3 million.