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Satyam net jumps 51 pc in fourth quarter

Our Bureau

Hyderabad , April 21

SATYAM Computer Services Ltd has recorded a growth of 32.28 per cent in revenues and 51.37 per cent in net profit for the fourth quarter of fiscal ended March 31, 2005. On revenues of Rs 953.36 crore (Rs 720.7 crore), the company posted a net profit of Rs 213.2 crore (Rs 140.84 crore), yielding an EPS of Rs 6.68 (Rs 4.46) during the quarter under review.

Beating market expectations, especially in the backdrop of IT giants TCS reporting a disappointing fourth quarter results and Infosys issuing poor guidance, Satyam also registered a significant performance for the overall fiscal. It recorded an annual growth of 36.3 per cent in revenues and 34.98 per cent in net profit. It posted revenues of Rs 3,464.22 crore (Rs 2,541.54 crore) and a net profit of Rs 750.26 crore (Rs 555.79 crore), yielding an EPS of Rs 23.61 (Rs 17.64) for the fiscal.

Satyam has also announced an attractive guidance for the current fiscal 2005-06 with consolidated revenues in the range of Rs 4,435 crore and Rs 4,502 crore, implying a growth rate of 26 per cent to 28 per cent over the revenues of fiscal 2004-05.

The EPS for the current fiscal was expected to be between Rs 26.84 and Rs 27.30, said the Satyam Chairman, Mr B. Ramalinga Raju.

While taking on record the audited financial results, the Satyam board has recommended a final dividend of 150 per cent, which is Rs 3 per share on par value of Rs 2 per share. This takes the total dividend to 250 per cent, including the interim dividend of 100 per cent recommended earlier (a total of Rs 5 per share on par value of Rs 2 per share). During the quarter, Satyam recorded a total income in excess of Rs 1,000 crore on a consolidated basis. Elaborating on the de-risked business model of the company, he said the contribution from top five customers to the revenue has reduced to 27.7 per cent from a high of 43.77 per cent during the last three years. The contribution from top 10 customers has reduced to 41.5 per cent from 55.9 per cent.

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