Business Daily from THE HINDU group of publications
Saturday, Oct 21, 2006
Corporate Results - Software
Info-Tech - Financial Performance
Total software revenues at Rs 1,601.88 crore
Income from software services at Rs 1,601.88 crore
Guidance revised upwards at about 35 per cent
Second-quarter witnessed accelerated growth in select verticals
Mr B. Ramalinga Raju
Hyderabad , Oct. 20
With technology majors TCS, Infosys, Wipro logging impressive results in second quarter, Satyam Computer Services today followed suit churning out good numbers and scaling up its overall performance outlook for fiscal 2007.
Satyam today announced that it registered about 39 per cent increase in revenue and 34 per cent growth in net profit over corresponding quarter last fiscal.
During the second-quarter ended September 30, it recorded total software revenues of Rs 1,601.88 crore and a net profit of Rs 319.81 crore against total revenues of Rs 1,154.97 crore and a net profit of Rs 237.34 crore for the corresponding quarter last year.
However, as per sequential quarter performance, the services revenue was up 11.02 per cent, but net profit was lower by 9.66 per cent.
The income from software services stood at Rs 1,601.88 crore, outpacing its projection of Rs 1,521-1,529-crore band for the second quarter.
As against last fiscal revenues of Rs 4,634.31 crore, it has scaled up total revenue guidance at Rs 6,452-6,476-crore band, that would reflect a growth of about 35 per cent overall.
The Chairman Satyam Computer, Mr B. Ramalinga Raju, said the 11 per cent growth sequentially in revenue betters the guidance substantially and highlights growth witnessed in the last five years.
On the back of good performance, the company has revised its guidance upwards at about 35 per cent. While it hinted at EPS growth of about 35.9 per cent and 36.4 per cent, the board has approved an interim dividend of 50 per cent in fiscal 2007.
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