Home Economy Satyam’s net profit down from last quarter

Satyam’s net profit down from last quarter


Hyderabad : Satyam Computer Services Ltd, India's fourth largest software exporter, posted a net profit of Rs.3.78 billion in the first quarter of 2007-08, down by 3.9 percent over the previous quarter.

Satyam, listed on the New York Stock Exchange, said the consolidated net profit for the quarter ended June was Rs.3.78 billion, against Rs.3.94 billion in the last quarter (Q4) of 2006-07. But the net profit increased by 6.8 percent on year on year basis.

The company posted revenues of Rs.18.30 billion, a year on year increase of 26.8 percent and a sequential increase of 2.9 percent.

Total income during the quarter rose by 24.8 percent year on year basis and 2.4 percent quarter on quarter basis to Rs.18.93 billion.

The revised revenue guidance for the current fiscal is Rs.78.53 billion to Rs.79.42 billion, a growth of 21.1 to 22.5 percent. The Q2 revenue guidance is Rs.19.17 billion to Rs.19.26 billion.

The Earning Per Share (EPS) during the quarter was Rs.5.67 while the guidance for the Q2 is Rs.5.36 to Rs.5.41. EPS guidance for 2007-08 is Rs.24.14 to Rs.24.46, an annual growth of 12.5 to 14 percent.

During the first quarter, the company added 29 new customers, including two fortune global and US 500 companies. The total number of customers now stands at 570. It also added 2,716 employees this quarter and the headcount has now gone up to 42,347 including employees of its subsidiaries and joint ventures.