Tech Mahindra posts Rs.221 crore net profit in Q4
Facebook Twitter google+ RSS Feed

Tech Mahindra posts 221 crore net profit in Q4

Monday, 27 April 2009, 13:22 Hrs   |    1 Comments
Printer Print Email Email
New Delhi:IT services exporter Tech Mahindra, which is taking over the fraud-hit IT giant Satyam Computer Services, Monday reported a net profit of 221.3 crore for the fourth quarter of 2008-09.

The company had reported a loss of 207.07 crore in the corresponding period in 2007-08 after it accounted for one-time expense of 440 crore, an official statement said.

The company has logged a net profit of 986.65 crore in 2008-09 as against 342.11 crore during the year before.

Tech Mahindra, which April 13 won an open bid to acquire 31 percent stake in Satyam for 1,757 crore ($351.4 million), last week announced its open offer for a 20-percent additional stake in the IT giant at 58 per share.

The offer to all existing shareholders of the Hyderabad-headquartered Satyam opens June 12 and closes July 1.
Source: IANS
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset
Reader's comments(1)
1: May be window dressing !
Posted by:Ashok Aggarwal - 28 Apr, 2009
SPOTLIGHT