Patni Computer Systems today posted a 7.9 per cent rise in net profit at Rs 146.7 crore for the second quarter ended June 30, compared to Rs 135.9 crore in the corresponding quarter last year, on foreign exchange gains.
The company reported a mark-to-market foreign exchange gain of $4.3 million (Rs 19.76 crore) for this quarter. Patni follows calendar year as financial year.
According to Indian accounting standards, revenue dipped 2.1 per cent at Rs 762.8 crore from Rs 779.8 crore in the same quarter last year. Sequentially, while net profit was down 6.6 per cent from Rs 157 crore, revenue declined 2.4 per cent from Rs 781.6 crore.
Meanwhile, the company, has earmarked $200 million to $300 million for acquisitions. The company plans to close one acquisition by the end of this year.
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