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Satyam may gain Rs 1000 cr if rupee level holds: CFO
“If the rupee remains at the current level during the rest of the year, Satyam Computer will gain by about Rs 1,000 crore,” Mr V. Srinivas, Chief Financial Officer of Satyam Computer, told the company shareholders.
"If the rupee remains at the current level during the rest of the year, Satyam Computer will gain by about Rs 1,000 crore," Mr V. Srinivas, Chief Financial Officer of Satyam Computer, told the company shareholders.
Answering queries during the company's 21st annual general meeting held here on Tuesday, Mr Srinivas said, "If last year was affected by rupee fluctuation, this year we will gain by a weakening dollar. Therefore, the best way to judge an IT services company based in India is by comparing the company's revenues in dollar terms."
Growth story
Earlier, in his address, the Satyam Chairman, Mr. B. Ramalinga Raju, said "despite economic uncertainties and rupee appreciating and growing costs for manpower, the company recorded 46 per cent growth last fiscal."
Mr Raju said that the company, which has accumulated reserves over the years, plans to step-up inorganic activity, aimed at acquiring new services specialisation and possibly even new geography.
"Sometimes, you may feel that the acquisitions have not worked out as planned. In fact, they take a few quarters to realise their real potential".
The company invested about $200 million in acquisitions in the last six months and would continue to scout for more, Mr Srinivas said.
