Patni Computers down on lacklustre Q3 numbers

DALAL STREET SPIKES

Patni Computers fell to a low of Rs 435 after opening at Rs 483. It ended the day at Rs 465. The company clocked poor December quarter results. It's net profit tumbled by 44.2 per cent y-o-y to Rs 32.9 crore, even as net sales moved up by 27.1 per cent to Rs 239 crore.

The stock had witnessed a rally just before the announcement of results. Recently, the company had issued 61.56 lakh American depository shares representing 1.23 crore equity shares.

It offers services to life insurance, manufacturing, financial services, and telecom, through application development, packaged software implementation, infrastructure management services, product engineering services and BPO.