Software exporter Patni Computer today reported over two-fold growth in consolidated net profit at Rs 188 crore for the fourth quarter ended December 31, 2009.
The software exporter had a net profit of Rs 78 crore in the fourth quarter of FY'08 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 Rs 789.61 crore, down from Rs 857 crore in the corresponding period a year-ago.
"As the economies globally stabilise, 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 per cent at the rate of Rs 3 a piece, on every share of Rs 2 held for FY'09.
For the fiscal year ended December 31, 2009, Patni posted a net profit of Rs 555.79 crore, 14 per cent growth over the year-ago period.
The net revenues at the end of the financial year stood at Rs 3,043.46 crore, down from Rs 3,492.34 crore in the previous fiscal.
Shares of Patni were trading at Rs 476.75, up 0.89 per cent over previous close on the BSE.