Satyam's net profit down from last quarter

Friday, 20 July 2007, 07:00 Hrs
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Hyderabad: Satyam Computer Services Ltd, India's fourth largest software exporter, posted a net profit of 3.78 billion in the first quarter of 2007-08, down by 3.9 percent over the previous quarter.

Satyam, listed on the New York Stock Exchange, said the consolidated net profit for the quarter ended June was 3.78 billion, against 3.94 billion in the last quarter (Q4) of 2006-07. But the net profit increased by 6.8 percent on year on year basis.

The company posted revenues of 18.30 billion, a year on year increase of 26.8 percent and a sequential increase of 2.9 percent.

Total income during the quarter rose by 24.8 percent year on year basis and 2.4 percent quarter on quarter basis to 18.93 billion.

The revised revenue guidance for the current fiscal is 78.53 billion to 79.42 billion, a growth of 21.1 to 22.5 percent. The Q2 revenue guidance is 19.17 billion to 19.26 billion.

The Earning Per Share (EPS) during the quarter was 5.67 while the guidance for the Q2 is 5.36 to 5.41. EPS guidance for 2007-08 is 24.14 to 24.46, an annual growth of 12.5 to 14 percent.

During the first quarter, the company added 29 new customers, including two fortune global and US 500 companies. The total number of customers now stands at 570. It also added 2,716 employees this quarter and the headcount has now gone up to 42,347 including employees of its subsidiaries and joint ventures.
Source: IANS
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