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
Friday, 20. July 2007
Satyam Too Reports Reduced Profits On Rupee Rise
India’s fourth largest computer services firm, Satyam Computer Services Ltd. posted a 6.8 per cent rise in first-quarter net profit after tax, and said it expects second-quarter revenues to grow at 5.2 per cent.
The Hyderabad headquartered software service provider said net profit after tax for the quarter to June 30 rose to Rs. 3.78 billion year-on-year, however it fell 3.9 per cent from the previous quarter. Revenue rose 26.8 per cent year-on-year to Rs. 18.30 billion, reflecting a 2.9 per cent quarter-on-quarter rise.
"Strong volume growth and increased revenue productivity along with operational efficiencies helped us mitigate margin challenges," Chief Financial Officer Srinivas Vadlamani said in a statement.
Under US GAAP, Satyam expects second-quarter revenues to grow between 5.5-6 per cent to USD 479 million. Full-year 2008 revenue is expected to be between USD 1.96-1.98 billion, showing a growth rate of anywhere between 34-35 per cent.
The Hyderabad headquartered software service provider said net profit after tax for the quarter to June 30 rose to Rs. 3.78 billion year-on-year, however it fell 3.9 per cent from the previous quarter. Revenue rose 26.8 per cent year-on-year to Rs. 18.30 billion, reflecting a 2.9 per cent quarter-on-quarter rise.
"Strong volume growth and increased revenue productivity along with operational efficiencies helped us mitigate margin challenges," Chief Financial Officer Srinivas Vadlamani said in a statement.
Under US GAAP, Satyam expects second-quarter revenues to grow between 5.5-6 per cent to USD 479 million. Full-year 2008 revenue is expected to be between USD 1.96-1.98 billion, showing a growth rate of anywhere between 34-35 per cent.
