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Patni net profit drops

Our Bureau

Financial, product engineering services key growth areas

Mumbai , April 27

Patni Computer Systems has reported a marginal fall in standalone net profit for the first quarter ended March 31, 2006. Net profit fell to Rs 50 crore, down from Rs 50.7 crore during the corresponding quarter of the previous fiscal.

Total income rose to Rs 231 crore, up from Rs 186.79 crore. According as US GAAP, Patni Computer Systems Ltd has reported a 7.7 per cent drop in consolidated net profit, despite a 30.6 per cent jump in revenues for the first quarter ended March 31, 2006.

Net profit for the quarter was reported at Rs 64.24 crore down from Rs 68.22 crore during the corresponding quarter of the previous fiscal.Revenues amounted to Rs 577.55 crore, up from Rs 433.7 crore.

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