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Canada's CGI says quarterly profit doubles
April 30, 2014 / 11:11 AM / in 3 years

Canada's CGI says quarterly profit doubles

April 30 (Reuters) - Canadian information technology services provider CGI Group Inc’s quarterly net profit more than doubled on the back of a 7 percent rise in revenue.

CGI is a former Obamacare contractor and lost the contract to manage the rollout of Obamacare after a botched launch.

The company’s net profit in the second quarter rose to C$230.9 million ($210.6 million), or 73 Canadian cents per share, from C$114.2 million, or 36 Canadian cents per share.

During the quarter, the company booked $2.9 billion in contract awards, of which 40 percent was new business. Bookings is an indicator of future sales.

Revenue rose to $2.7 billion.

$1 = 1.0966 Canadian Dollars Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel

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