Satyam Q2 net drops 12%

By SiliconIndia   |   Wednesday, 23 October 2002, 07:00 Hrs
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Satyam Computer Services has reported a 12% drop in net profit at Rs 118.16 crore for the quarter ended September 30, 2002 as compared to Rs 134.08 crore in Q2.

HYDERABAD: Total income has increased 11% to Rs 505.05 crore from Rs 453.50 crore in the corresponding quarter of the previous fiscal, the company announced in an official release.

The board has declared an interim dividend of 40% for FY03

The company announced that it is expecting software sales in the third quarter ending December 31 at Rs 525-540 crore as against Rs 499 crore reported in Q2FY03.

The EPS for the third quarter is likely to be Rs 4-4.2, up from Rs 3.75 in the second quarter.

The company, however, pared its full-year earnings per share estimate to Rs 16.06-16.26 from the earlier projection of Rs 17.1-17.5. It has maintained its full-year forecast of an 18-20% rise in software income in dollar terms.

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