Patni Computer net at Rs 166 crore

Patni Computer Systems Ltd, which was listed on the stock exchanges recently, has posted a net profit of Rs 166.05 crore (Rs 1.66 billion) for the year ended December 2003.

The board approved the proposal for payment of 50 per cent dividend at its meeting held on Tuesday, the company informed the National Stock Exchange on Wednesday.

Patni has posted net sales of Rs 537 crore (Rs 5.37 billion) for the year 2003, it said.

The decision for the payment of dividend was subject to the shareholders' approval, it added.