Patni Computer Q1 net slips 20% on year as costs rise

Patni Computer Systems reported a 20.4% year-on-year decline in consolidated net profit at USD 26.5 million for the first quarter (January-March), due to a rise in costs.

For the three-month period, the software services provider reported net revenue of USD 190.3 million up 10.4% year-on-year, according to US GAAP figures. However, cost of revenue was up 20% from a year ago to USD 127.3 million. The tax expense was also higher by 41% on year at USD 10.3 million. The company

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