Patni’s Q2CY08 revenues at US$ 182.6mn up 11.8% YoY

Patni Computer Systems Limited (Patni) today announced its financial results for the second quarter ended 30th June 2008.

Commenting on the quarter, Mr. Narendra K Patni, Chairman and CEO, Patni Computer Systems Ltd.,said, “While our revenues and margins were in line with guidance the overall market environment remains challenging with prevailing global uncertainties. We are cautious in our short term outlook but remain positive on long term prospects of our business and are continuing our investments in identified areas”

The newly appointed Executive Director Mr. Loek van den Boog, said, “ The global information technology services industry is going through a significant change. We have proactively identified key strategic areas for differentiated investment and focus, which we believe, will act as growth drivers and enable long-term, sustainable and profitable growth. We have also made corporate and operating management changes to strengthen the execution of all spheres of our business and I am very confident that these will yield the desired results ”

Speaking on the occasion, Mr. Surjeet Singh, Chief Financial and Operations Officer said, “ The overall growth visibility is low in light of continued market uncertainties in various segments of our business specially in North America. The currency movement was volatile during the quarter but we managed our risks well through our hedging operations. We continue to make investments in geographical expansion in Europe and emerging markets to diversify our revenue portfolio besides continuing to invest to strengthen our services and portfolio”

To view detailed press release, click on the attachment.

Sourced From: Text 100 Public Relations Consultancy