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Satyam Computers' revenue to surge in '03-'04: analysts
By siliconindia staff writer
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Wednesday, 21 April 2004, 19:30 IST
NEW DELHI: Close on the heels of Infosys and Wipro entering the billion dollar revenue club, analysts have predicted strong results for the country's third largest listed software company Satyam Computers in 2003-04 in terms of both earnings and revenue on the back of high order momentum and client interest in the company.
"Satyam should be able to meet its guidance in both revenue and earnings as the order momentum and client interest in the company is very high. In fact, this may push the company to marginally exceed the guidance for FY04, told Apurva Shah, senior research analyst, Prabhudas Liladhar Private Limited.
Discounting any impact of rupee appreciation and the outsourcing backlash on the company's performance, he said the last three quarters had shown strong results and the fourth quarter was not going to be different.
Echoing similar views, Ganesh Douvvuri, IT analyst, Motilal Oswal Securities, said operationally the company had no problems in the year and it should be able to meet its guidance.
"Satyam should be able to meet its guidance despite the rupee appreciation. There is strong volume growth for the company as has been in the case of Infosys and Wipro. But the volume growth will be less than that of Infosys and Wipro", Douvvuri said.
NYSE-listed Satyam Computers will announce its fourth quarter results on Thursday. It had earlier given a revenue growth guidance of 31 per cent for 2003-04 while earnings per share for the year were expected to be between Rs 17.77-17.84.