iGate Corp. (NASD: IGTE) reported today revenue rose 9.9 percent to $302.2 million in its first quarter ended March 31, from $274.9 million in the first quarter of last year. Gross margin at the Fremont, Calif.-based information technology services firm narrowed to 37.5 percent from 38.1 percent in the first quarter the previous year.

Net income attributable to common shareholders fell 14.0 percent to $23.3 million.

“Overall market conditions appear to be favorable across the board,” said President and CEO Ashok Vemuri.

Shares in iGate were up 11.84 percent in early afternoon trading to $37.13 and iGate has a market cap of approximately $2.18 billion, according to Yahoo!