Q2 results: iGate Patni posts loss
Tuesday, 26 July 2011, 22:40 IST   |    1 Comments
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NEW DELHI: IT firm iGate Patni reported a decline of nearly 93 percent in net income to Rs 10.8 Crore for the second quarter ended June 30, 2011, primarily on account of foreign exchange losses. The company had posted a net income of Rs 147 Crore for the April-June quarter of 2010, iGate Patni said in a statement. "... We expect our results to stabilise in 2012, after all the integration expenses and the accounting charges related to the acquisition (of Patni by US-based iGate) have evened out," Patni CEO and MD Phaneesh Murthy said. On May, 2011,iGate Corporation acquired an 82.4 per cent stake inPatni Computers.
Source: PTI
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