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34 pc rise in Satyam Q2 net

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Declares 50 per cent interim dividend

Good numbers
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.

Revises guidance

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.

Related Stories:
Satyam net jumps 86 pc; revises guidance upwards
Satyam closer to $1-b mark — Q2 net up 34 pc; revises outlook upwards

More Stories on : Financial Performance | Software | Financial Performance | Satyam Computer Services Ltd

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