MUMBAI:Patni Computer Systems Limited, India?s sixth largest IT services company, today announced its financial results for the first quarter ended March 31, 2005. The revenues in the 1Q of 2005 are $99.14 million, higher by 38 percent over $72 million in the same quarter last year. Gross profit this fiscal is $39 million, higher 35 percent from $29 million in the same period last year. The company also reported operating income and income before income taxes (PBT) at $19.32 million and $19.98 million respectively while net income was $15.64 million. Commenting on the Q1 performance, Narendra K. Patni, Chairman and CEO, Patni Computer Systems Ltd., said, ?Patni has delivered another quarter of stable growth. We remain committed to creating ongoing growth across the organization, in line with what we believe to be the large opportunity available to offshore-oriented IT services providers. We are recognized in the global marketplace as one of the leading services companies in our focus verticals. We continue to make significant investments to enhance our front-end capability and delivery infrastructure, which we believe should start creating optimal returns in the medium term. Overall, our objective is to build a robust organization capable of delivering sustained growth and we are confident that we will continue to meet our internal targets and stakeholder expectations.? Patni also said effective January1; it has re-aligned its business unit structures to create sharper focus on key industry and technology practices. The North American sales organization has also been re-aligned and integrated with the said industry and technology practices. It has also announced the appointment of Louis Theodoor van den Boog as an independent director on the Company?s board.