* Q1 adj EPS $0.45 vs est $0.41
* Q1 rev $302.2 mln vs est $300.8 mln
(Adds outlook, comments from conference call)
April 10 (Reuters) - IT services provider iGate Corp reported better-than-expected quarterly results as it added more customers, and revenue rose in Europe and from its financial industry clients.
IGate shares rose 3 percent in premarket trade on Thursday.
The company, whose larger rivals include Tata Consultancy Services, Infosys Ltd and Cognizant Technology Solutions Corp, expects modest revenue growth in the current quarter compared with the first. It said it expects growth to pick up in the second half of the year.
"We are experiencing sustained and broad-based growth momentum across multiple service lines and geographies in our top five clients," Chief Executive Ashok Vemuri said in a conference call with analysts.
IGate expects adjusted EBITDA margins to be modestly lower in the second quarter due to a planned wage increase.
The company added nine clients in the quarter, seven from North America and two from Europe.
Vemuri said iGate was "tracking favorably" in discussions to land three large deals.
The company expects significant cost savings over the coming quarters with its efforts to refinance and repay debt of $770 million through a combination of new debt and bank loans.
Net income attributable to common shareholders fell to $23.3 million, or 29 cents per share, in the quarter ended March 31 from $27.1 million, or 34 cents per share, a year earlier.
Excluding items, the company earned 45 cents per share.
Analysts had expected earnings of 41 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 10 percent to $302.2 million compared with the average analyst estimate of $300.8 million.
Revenue from banking and financial services rose to 23 percent of the total from 22.2 percent a year earlier.
Revenue from General Electric Co, the company's top client, rose to 15.1 percent of total revenue from 12.6 percent in a year earlier.
Revenue from Europe, the company's second largest market, grew to 16.5 percent of the total from 12.7 percent. Revenue from the Americas, its largest market, fell to 77.6 percent from 80.3 percent.
The company's gross margin fell to 37.5 percent from 39.8 percent in the year ago quarter.
(Reporting by Soham Chatterjee in Bangalore; Editing by Kirti Pandey and Prateek Chatterjee)