Patni Computer Systems Ltd. Wednesday reported a 20.4% fall in its first-quarter net profit, as a rise in costs outweighed revenue growth.
For the three months through March, the outsourcing company reported a net profit of $26.5 million, compared with $33.3 million a year earlier.
Revenue rose 10.4% to $190.3 million from $172.3 million a year earlier, the company said in a stock exchange statement.
Patni’s cost of revenue rose 19.8% from a year earlier to $127.3 million from $106.3 million.
Tax expenses climbed to $10.3 million from $7.3 million.
Source:http://online.wsj.com/article/SB10001424052748703778104576288122495312468.html
