Patni
Computer Systems’ profits fell 37.5% to . 90.2 crore for the quarter
ended September 30 as compared to . 144.4 crore in the corresponding
quarter last year, but the decline was less than analysts’ expectations.
Patni, which was acquired by iGATE in January, saw revenue grow 4.5%
sequentially to . 914.3 crore and 7.6% year on year.
“While we do not see any cutback in existing projects, we still retain a cautious outlook for the 2012 budgets in some verticals,” chief executive Phaneesh Murthy said in a statement. The share of revenue from its top-10 clients decreased from 48.5% to 46.4%, the statement said.
Patni employs 17,853 people. Its shares closed at . 337.95 on the Bombay Stock Exchange, up 15.8 % on Tuesday.
“Our integration efforts with iGATE are progressing smoothly. Measurable outcomes like attrition rate and pipeline building are trending in the right direction,” Murthy said. Earlier, Murthy had said the company’s results are expected to stabilise in 2012 after integration expenses and accounting charges related to the acquisition have evened out.
“While we do not see any cutback in existing projects, we still retain a cautious outlook for the 2012 budgets in some verticals,” chief executive Phaneesh Murthy said in a statement. The share of revenue from its top-10 clients decreased from 48.5% to 46.4%, the statement said.
Patni employs 17,853 people. Its shares closed at . 337.95 on the Bombay Stock Exchange, up 15.8 % on Tuesday.
“Our integration efforts with iGATE are progressing smoothly. Measurable outcomes like attrition rate and pipeline building are trending in the right direction,” Murthy said. Earlier, Murthy had said the company’s results are expected to stabilise in 2012 after integration expenses and accounting charges related to the acquisition have evened out.
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