April 28, 2011 / 11:12 AM / in 7 years

UPDATE 1-CGI Group Q2 profit surges on new contracts

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April 28(Reuters) - CGI Group Inc (GIBa.TO), Canada’s largest technology outsourcing and consulting company, posted a higher second-quarter profit, as it won new contracts and extended some of the existing ones.

Net earnings for the quarter rose to C$117.0 million, or 42 Canadian cents per share, compared with C$81.6 million, or 28 Canadian cents per share, a year ago.

Second-quarter revenue rose to C$1.13 billion from C$910.0 million as the company booked contracts worth C$771 million during the quarter.

    Shares of the company closed at C$20.02 on Wednesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Saumyadeb Chakrabarty)

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