Tech Mahindra posts
221 crore net profit in Q4
Tuesday, 28 April 2009, 01:52 IST |
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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
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Source: IANS