Patni net down 6.5%

Patni Computer Systems posted a net income (India GAAP) of Rs 168.5 crore for the third quarter ended September 30, down 6.5 per cent from Rs 180.2 crore in the corresponding quarter in the previous financial year. Revenue for the quarter at Rs 833.7 crore (including other income) dipped 1.5 per cent from Rs 846.7 crore in the same quarter last year. Excluding Other Income, revenue grew marginally by 0.3 per cent.

For the fourth quarter, the company expects revenue to be at $168-169 million and net income (excluding the hedge gain/loss) in the range of $24-25 million. The guidance is based on constant rupee-dollar rate of Rs 46.5, constant pound–dollar rate of 1.65 and euro-dollar rate of 1.40.