On Wednesday, Patni Computer Systems has reported a profit of 7.3 per cent rise in its net profit during the second quarter of this fiscal. This has been possible because of the gain on the foreign exchange front made by the IT Company.

Even with this the company saw declining revenues forcing the shares to go down.

Profit for the month of April-June increased to Rs. 1.47 billion as against 1.37 billion for the same period last year. The same used the US GAAP accounting calculation method.

Revenues on the other hand grew marginally to Rs. 7.78 billion from Rs. 7.73 billion. Patni saw a foreign exchange gain of Rs. 197.6 million during the quarter after recovering from a loss of Rs 197.2 million during the past year.

While the profit is in line with what the experts had calculated, the revenue was a bit lower. And they said that the revenue had come up as a negative surprise.

Talking to media, Chief Executive, Jeya Kumar said that the lower-than-expected revenue does not show under performance of Patni in any way and is the outcome of the inability of the firm to up its scale.