Patni Computer Systems has reported an increase of 14.5 per cent in net profit in the quarter till December 2011.

Patni, a subsidiary of iGATE Corporation, recorded a net profit of Rs 200.42 crore for the quarter till December compared to Rs 174.94 crore in the same quarter of the previous year. Total revenues of the firm stood at Rs 1,009.20 crore from Rs 868 crore in the same quarter of 2010, recording an increase of 16.3 per cent.

The company follows January-December calendar as financial year. The company’s net profit more than doubled as it was recorded at Rs 90.20 crore for the third quarter ended September, 2011.

As for the whole year, the company recorded a net profit of Rs 401.50 crore, recording a fall of 32 per cent compared to Rs 623 crore recorded in 2010. The fall in profits is mainly due to the increase in personnel severerance.

The company said that it has already invested $15 million in a new 260,000 sq ft facility in Bangalore and has approved $120 million budget for building a residential training facility in Pune, campus expansion in Mumbai as well as additional capacity building in Bangalore.

“The integration with Patni has been going on smoothly and at an accelerated pace ensuring value protection to all stakeholders,” said iGATE Patni CEO Phaneesh Murthy. He said that the year has been a milestone year for the company as it completed its financial year with more than $1 billion in revenues.