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Patni Q4 net profit rises over 2-fold, declares 150% dividend

Patni Q4 net profit rises over 2-fold, declares 150% dividend
PTI
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First Published: Thu, Feb 11 2010. 11 12 AM IST
Updated: Thu, Feb 11 2010. 11 12 AM IST
Mumbai: Software exporter Patni Computer on Thursday reported over 2-fold growth in consolidated net profit at Rs188 crore for the fourth quarter ended 31 December 2009.
The software exporter had a net profit of Rs78 crore in the fourth quarter of FY08 as per the US accounting rules, Patni said in a filing to the Bombay Stock Exchange.
The company’s revenue at the end of the December quarter stood at Rs789.61 crore, down from Rs857 crore in the corresponding period a year-ago.
“As the economies globally stabilize, we are prepared well and poised for growth. We remain cautiously optimistic of our growth prospects and managing our business with due focus on operating and strategic priorities,” Patni Computer CEO, Jeya Kumar said.
The board has declared a dividend of 150% at the rate of Rs3 a piece, on every share of Rs 2 held for FY09.
For the fiscal year ended 31 December 2009, Patni posted a net profit of Rs555.79 crore, 14% growth over the year-ago period.
The net revenues at the end of the financial year stood at Rs3,043.46 crore, down from Rs 3,492.34 crore in the previous fiscal.
Shares of Patni were trading at Rs476.75, up 0.89% over previous close on the BSE.
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First Published: Thu, Feb 11 2010. 11 12 AM IST