- Satyam net up at Rs. 1,405 cr.

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Satyam net up at Rs. 1,405 cr.

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Satyam net up at Rs. 1,405 cr.

Saturday, 21 April 2007

Satyam Computer Services has recorded impressive results during the fourth quarter ended March 31, 2007, and hinted that the company was heading towards the $2 billion revenue mark.
It recorded a total income of Rs. 1,849.55 crore and a net profit of Rs. 393 crore for the quarter under review against Rs. 1,342.51 crore and Rs. 284.83 crore, respectivel, in the corresponding quarter last year.
For the year ended March 31, 2007, total revenue was Rs. 6,668.86 crore a growth of about 30 percent. The net profit after tax stood at Rs. 1,405 crore against Rs. 1,149.06 crore.
Announcing the results at a press conference here on Thursday, Chariman B. Ramalinga 2008, the revenue was expected to be between $1.87 billion and $1.9 billion, implying a growth rate of 28 to 30 per cent.
He said the board had proposed a final dividend of 125 per cent, taking the total dividend to 175 per cent.
Mr. Raju said the company's dependence on the U.S. market had come down to below 60 percent.
Notwithstanding the pressure on margins due to salary hikes that included five percent for overseas staff and 16 percent for its associates in India, the company recorded a good performance.
Vadlamani Srinivas, Chief Financial Officer, said the company had prepared plans for a capital expenditure of $100 million during 2007-08 to set up centres in Special Economic zones (SEZs) in Hyderabad, Vizag Chemical and Nagpur.
Hari T., Senior Vice-President, said plans were afoot to induct 15,000 more associates in addition to the existing 35,670. Mr. Ramalinga Raju said higher compensation packages and other management initiatives had brought down the attrition level during 2006-07.