SDA India is an online resource for Software, Development,IT, Architecture, Open Source, Mobile, Security, Databases, Delphi, C, OS, Asp, .Net, Php, Xml, Java
From the News Desk
Thursday, 31. August 2006
Satyam Q1 Net Profit Soars 86.16 pct
Consulting and IT services company Satyam has reported that its first quarter net profit jumped of 86.16 percent to Rs. 354.12 crore from the year-ago qaurter. Earnings per share for the quarter were Rs. 10.87, a sequential growth of 22.7 percent.
Revenue from the software services stood at Rs. 1,443 crore, up 36.3 percent compared with the same period a year-ago, beating its expectation of Rs. 1,359 crore to Rs. 1,366 crore.
"The revenue and earning per share for Q1 have exceeded the forecasted range on the back of robust volume growth and a favorable exchange movement during the quarter. The growth continues to be broad-based across verticals and service offerings. Offshore contribution continued to increase in Q1, reflecting our maturity in leveraging the global delivery model effectively to deliver enhanced value for the customer," said Ramalinga Raju, Founder & Chairman of Satyam.
The company also upgraded its revenue and earnings outlook for the current year. It expects to earn Rs. 38.90 to Rs. 39.50, up from earlier view of Rs. 36.0 to Rs. 36.6. The company expects revenue in the range of Rs. 6,190 crore and Rs. 6,290 crore, up from its earlier forecast of Rs.6,000 crore to 6,100 crore.
Satyam, which was recently ranked number two global outsourcing vendor by Brown-Wilson Group, said it added 34 new customers in the quarter. Satyam also added 1123 associates in the quarter, taking the total employee strength to 27,634. Total resources, including subsidiaries and joint ventures, increased to 29,843.
Revenue from the software services stood at Rs. 1,443 crore, up 36.3 percent compared with the same period a year-ago, beating its expectation of Rs. 1,359 crore to Rs. 1,366 crore.
"The revenue and earning per share for Q1 have exceeded the forecasted range on the back of robust volume growth and a favorable exchange movement during the quarter. The growth continues to be broad-based across verticals and service offerings. Offshore contribution continued to increase in Q1, reflecting our maturity in leveraging the global delivery model effectively to deliver enhanced value for the customer," said Ramalinga Raju, Founder & Chairman of Satyam.
The company also upgraded its revenue and earnings outlook for the current year. It expects to earn Rs. 38.90 to Rs. 39.50, up from earlier view of Rs. 36.0 to Rs. 36.6. The company expects revenue in the range of Rs. 6,190 crore and Rs. 6,290 crore, up from its earlier forecast of Rs.6,000 crore to 6,100 crore.
Satyam, which was recently ranked number two global outsourcing vendor by Brown-Wilson Group, said it added 34 new customers in the quarter. Satyam also added 1123 associates in the quarter, taking the total employee strength to 27,634. Total resources, including subsidiaries and joint ventures, increased to 29,843.
