Saturday, August 14, 2010

Patni Computer Systems Ltd. declared Rs.63 dividend per share

On August 13, 2010, at BSE, share prices of Patni Computer Systems advanced 8 percent at Rs.516.85 after the company declared to pay an interim dividend of Rs.63 for equity share of Rs. 2 each. The announcement was made at a meeting of the BoD on the same day. The stock observed an intra-day high of 16 percent to Rs.551.70.

Deepak Khosla, Vice President, Patni Computer Systems said that the company will pay out a total of Rs. 8.2 billion against 130.3 million shares.

In late July, the company declared financial results of its April-June quarter. It reported a net profit of Rs.1.47 billion, a 7.3 percent rise against Rs. 1.37 net profit made in the corresponding period last year. However, the company missed its own revenue estimate causing a fall in its share prices.

It also booked a foreign exchange gain of Rs.197.6 million against Rs. 197.2 million at the same period last year. The company reported a net income of Rs.5.56 billion in the last 12 months ending on December 31, 2009.

Narendra Patni, founder of Patni Computer Systems, is the current Chairman of the company. Patni and his family hold 46.5 percent share in the company. As of December 31, 2009, the company is reported to have Rs. 19 billion in cash and short term investments.

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