iGate-controlled Patni Computer Systems has reported a dip of 37.5 per cent in net profit for the quarter ended September 30 to Rs 90.2 crore from Rs 144.4 crore in the same quarter a year back.
Revenues for the quarter were up by 7.7 per cent to Rs 914.3 crore (Rs 849 crore).
“While we do not see any cut back in the existing projects, we still retain a cautious outlook for the 2012 budgets in some verticals,” Mr Phaneesh Murthy, Chief Executive Officer and Managing Director of the company, said in a press statement.
The company's integration with iGATE Corp is ‘progressing smoothly', while attrition rate and pipeline building are in the ‘right direction', he added.
The Patni scrip was up by 15.8 per cent to close at Rs 337.95 on the Bombay Stock Exchange today.