Patni Q1 net profit rises 89.7 pc

By siliconindia   |   Thursday, 26 April 2007, 07:00 Hrs
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Mumbai: Patni Computer Systems posted 89.7 percent increase in consolidated net profit for the first quarter ended March 31, 2007.

The net profit recorded was about $31.90 million against $16.80 million in the corresponding period in the previous year and total revenue rose to $170.5 million against $140.40. Surjeet Singh, CFO refused to comment on the 10.4 percent fall in the net profit on a sequential basis.

“During the quarter, we added 26 new clients and reduced dependence on our top five and top ten clients,” says Mrinal Sattawala, COO. Idea expects net income in the region of $22.5-23 million for the next fiscal. ($1=42)

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