The Hindu Business Line : Virtusa Q4 net up 38%

Hyderabad, May 21 IT services provider Virtusa Corporation registered fourth quarter revenues of $45 million, up 28 per cent, with profit of $5.6 million, up 38 per cent, over $4.1 million for corresponding quarter last year. For the financial year, the company closed with revenues of $165.2 million, a growth of 33 per cent, with a profit of $19.4 million.

The Nasdaq-listed firm with operations in Hyderabad added 10 clients in fourth quarter and 24 during fiscal 2008. The Company ended fiscal year 2008 with $99 million of cash and cash equivalents.

The Chairman and CEO of Virtusa, Mr Kris Canekeratne, stated, “This quarter capped off an exciting and successful year for Virtusa, highlighted by the completion of our IPO in August, the signing of a strategic relationship with British Telecom and strong top and bottom line growth.” Virtusa expects fiscal 2009 revenue to be in the range of $196- $203 million.

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