IT consulting and software development firm Patni Computer Systems reported a robust 88.33% increase in net profit to Rs 3,875.18 million for the financial year ended Dec. 31, 2007 as compared with Rs 2,057.63 million in the previous fiscal.
Yearly Results (Rs in mn) As at December 2007(12) December 2006(12) %Change Net Sales 11,722.99 9,978.30 17.48 Net Profit 3,875.18 2,057.63 88.33 EPS (Rs) 27.67 - -
Net sales for the year rose 17.48% to Rs 11,722.99 million as against Rs 9,978.30 million in the financial year ended Dec. 31, 2006.
Total income for the period in comparison soared 27.81% to Rs 13,389.57 million from 10,475.94 million.
The diluted earnings per share (face value of Rs 2.00 a share), after extraordinary items, of the company stood at Rs 27.67 for the year ended December 2007.
Patni Computers board recommended a final dividend of 150% that is Rs 3 a share for the year 2007 (previous year 150%), subject to approval of the members at the AGM.
The board of the company has also approved a buyback of equity shares by way of open market transactions through stock exchanges in India at a maximum price of Rs 325 a share for an aggregate amount of Rs 2,370 million.
Shares of the company gained Rs 6.6, or 2.37%, to trade at Rs 285.25. The total volume of shares traded was 221,418 at the BSE. (11.03 a.m., Thursday)
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