Financial Daily from THE HINDU group of publications
Thursday, Feb 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 02, 2006 |
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Info-Tech
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Financial Performance Corporate Results - Software Patni Q4 net tad lower Our Bureau
MUMBAI: Patni Computer Systems has seen a marginal dip in net profit at Rs 66.09 crore for the quarter ended December 31, 2005, as compared to Rs 67.99 crore for the corresponding period in the previous year. The revenues, however, were up 33.6 percent at Rs 556.93 crore (Rs 401.24 crore), according to a company press release. The company clocked a net profit growth of 11.3 per cent for the calendar year ended December 2005, at Rs 273.59 crore, as compared to Rs 236.61 crore last year. Patni's revenues stood at Rs 2,024.24 crore, up 37.9 per cent, over Rs 1,413.11crore. Mr Narendra K. Patni, Chairman and Chief Executive Officer, said in a statement: "... During the year being reviewed, we successfully integrated the operations of Cymbal, which showed significant growth as Patni's telecom vertical; we consolidated our existing verticals while creating growth opportunities in several emerging areas; we reduced our revenue contribution from both the US region and our largest client GE; we increased our offshore contribution ratio further; and at the same time we continued to invest in our market facing resources and delivery infrastructure." The company's board has also recommended a final dividend of 125 per cent for the year ended December 31, 2005, it told the Bombay Stock Exchange. Revenues from the top 10 clients (excluding GE) were higher by 37.8 per cent during CY 2005Patni shares closed at Rs 464.6, down 3.88 per cent, on the Bombay Stock Exchange
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