Patni's Q1 2007 net income up 92.8 pc

New Delhi, Apr 25 (UNI) Indian software firm Patni computer System Limited (Patni) today posted a revenue at Rs 672.41 crore for the quarter ended March 31 2007, up 1.1 per cent sequentially from Rs 680.49 crore. The YoY also showed a similar trend with a rise of 20.2 per cent from 577.55 crore.

The net income for the same quarter stood at Rs 120.03 crore, sequentially 8.2 per cent up from Rs 113.49 crore, whereas YoY net income stood at 92.8 per cent up from Rs 64.25 crore.

The operating income for the quarter jumped to Rs 130.60 crore from 120.23 crore, up 11.2 per cent sequentially.The YoY is 70.4 per cent up from Rs 79.10 crore.

Commenting on the Q1 2007 performance, Patni Computer System Ltd Chairman and CEO Narendra K Patni said '' The quarter under review was one of stable growth and profitability enhancement.'' ''With Phase one of our state of the art knowledge park now operational our thrust is to drive agressive profitable growth and escalate our business across newer verticals and service lines,'' he added.

Mr Mrinal Sattawala, Chief Operating Officer, Patni said ''Our clients and service offering profiles continue to strengthen. During the quarter we have added 26 new clients and reduced dependence on Top 5 and Top 10 clients.'' UNI MP PBB HT1700