Patni expects Q4 net income in range of USD 17-17.5 mn

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Patni Computer Systems has announced its third quarter results. It has posted consolidated net profit of Rs 99.3 crore for the quarter ended September 2007 as against Rs 147.9 crore in previous quarter.

 

Key Takeaways from Patni Computer Systems concall:

 

Acquired 31 new clients during the quarter. Number of active clients was 293 at quarter end as compared to 267 in Q2 2007.

 

Contribution from top 10 customer 47%

 

Revenues for the quarter at Rs. 6,735.7 million

 

Operating Income for the quarter at Rs. 1,151.4 million

 

Net Income for the quarter at Rs 1,097.8 million

 

One time charge due to Directors Severance Rs 87.5 million

 

Quarter first and third were generally low compare to quarter second and fourth

 

Future Outlook: Q4 2007 revenues are expected to be in the range of USD 170 - 171 million and net income (excluding the foreign exchange gain/loss) is expected to be in the range of USD 17.0- USD 17.5 million at a constant USD value of Re. 39.8 per USD for the quarter.

 

EBIDTA level margin will go down 

Top client business remain stable

 

For more details listen to the concall...........