Nipuna gets a new COO
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Nipuna gets a new COO

By SiliconIndia   |   Monday, 27 October 2003, 08:00 Hrs
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HYDERABAD: Nipuna Services, the BPO subsidiary of Satyam Computer Services, has appointed Prakash Challa as its chief operating officer.

Challa comes in place of Ram S Ramasundar who quit Nipuna last month to join Ranbaxy as its executive vice-president-finance and CFO designate last week.

Prakash moved to Nipuna from Satyam’s Global Solutions Group according to Nipuna’s website. Interestingly, however, Satyam chairman B Ramalinga Raju said at a press conference that a decision to appoint a COO would be taken soon and the official will be brought on board in few months. Senior Nipuna officials refused to comment on the appointment.

With 212 employees, Nipuna Services has recorded a revenue of Rs 2.1 crore and incurred a net loss of Rs 4.0 crore in the second quarter. ( Are BPOs offering hot jobs to top managers also? )

The BPO firm has added a provider of hardware and software solutions in the financial services space to its customer list during the quarter to offer technical help desk services.

The company would use the first tranche of $10m investment from Olympus Capital and Intel Capital towards capital expenditure and working capital requirements. The two investing firms are expected to make another $10m investment before December this year.Barring Satyam Venture Engineering, the other subsidiaries and joint ventures of Satyam continue to bleed. These include Satyam Manufacturing Technologies and the Chinese subsidiary. Satyam Manufacturing recorded $ 0.17m as revenue and a net loss of $0.03m for the quarter ended September ’03. The Chinese subsidiary recorded a revenue of $0.27m and a net loss of $ 0.01m. (Source: Economic Times)

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