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Patni's Q2 Revenues up 36 percent at $109 million
By Sources
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Monday, 01 August 2005, 19:30 IST
BANGALORE: Patni Computer Systems Limited (Patni), a global IT services provider, today announced its financial results for the second quarter ended June 30, 2005.
The Performance is as follows:
1) Corresponding Quarter Review (Q2 2005 v/s Q2 2004):
Revenues grew by 36.3 percent to $108.72 million (
4,730.22 million) from $79.75 million ( 3,667.53 million).
Gross Profit rises by 18.6 percent at $37.34 million ( 1,624.74 million). Operating income higher by 3.1 percent at $15.23 million (Rs 662.77 million).
Net income increases by 6.3 percent to $14.28 million ( 621.46 million) from $13.44 million ( 618.07 million).
2) The Revenue Analysis for Q 2 2005 is as follows:
Continued trend of revenue diversification - GE contribution at 23.0 percent compared to 24.9 percent in Q1 2005 and 33.4 percent in Q2 2004. Revenues from clients outside the top 10 rise 15.4 percent on a sequential basis and by 92.7 percent over the corresponding quarter last year.
19 new clients added during the quarter; 50 million-dollar clients in Q2 2004, up by four on a sequential quarter basis.
Several vertical / technology practices show strong sequential growth - telecom up by 19.9 percent, manufacturing by 11.5 percent, ISV practice by 18.3 percent and product engineering practice by 21.8 percent.
3) The Corporate Perspective for Q 2 2005 is as follows:
European operations expanded with the opening of a new office in Amsterdam to address the Benelux market.
Patni entered into a preferred vendor alliance with Milliman Inc., an independent global consulting and actuarial firm.
Launched Portfolio Accounting Services targeting financial services companies and Defined Contribution BPO Services for insurance companies.
Board approved combined primary and sponsored secondary ADS offering.
4,730.22 million) from $79.75 million ( 3,667.53 million).
Gross Profit rises by 18.6 percent at $37.34 million ( 1,624.74 million). Operating income higher by 3.1 percent at $15.23 million (Rs 662.77 million).
Net income increases by 6.3 percent to $14.28 million ( 621.46 million) from $13.44 million ( 618.07 million).
2) The Revenue Analysis for Q 2 2005 is as follows:
Continued trend of revenue diversification - GE contribution at 23.0 percent compared to 24.9 percent in Q1 2005 and 33.4 percent in Q2 2004. Revenues from clients outside the top 10 rise 15.4 percent on a sequential basis and by 92.7 percent over the corresponding quarter last year.
19 new clients added during the quarter; 50 million-dollar clients in Q2 2004, up by four on a sequential quarter basis.
Several vertical / technology practices show strong sequential growth - telecom up by 19.9 percent, manufacturing by 11.5 percent, ISV practice by 18.3 percent and product engineering practice by 21.8 percent.
3) The Corporate Perspective for Q 2 2005 is as follows:
European operations expanded with the opening of a new office in Amsterdam to address the Benelux market.
Patni entered into a preferred vendor alliance with Milliman Inc., an independent global consulting and actuarial firm.
Launched Portfolio Accounting Services targeting financial services companies and Defined Contribution BPO Services for insurance companies.
Board approved combined primary and sponsored secondary ADS offering.