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Mahindra Satyam gains 4.2% on better Dec qtr numbers
Technology firm Mahindra Satyam has reported a much better than expected growth of 29.4% quarter-on-quarter in its consolidated net profit of Rs 308 crore in the October-December quarter of FY12. At 09:22 hrs the share was quoting at Rs 79.45, up Rs 3.20, or 4.20%.
Technology firm Mahindra Satyam has reported a much better than expected growth of 29.4% quarter-on-quarter in its consolidated net profit of Rs 308 crore in the October-December quarter of FY12.
The company earned forex gain of Rs 66.3 crore in the quarter ended December FY12 as against Rs 33.7 crore in an earlier quarter.
Consolidated revenues rose 8.9% to Rs 1,718 crore from Rs 1,577 crore quarter-on-quarter.
Mahindra Satyam said the rupee revenue growth was largely due to rupee depreciation.
CNBC-TV18 had expected net profit of Rs 220 crore and revenues of Rs 1,735 crore.
Attrition rate declined at 16% in the third quarter of FY12 versus 25% in the corresponding quarter of last fiscal.
EBITDA margins came in at 16.2% as against CNBC-TV18 poll of 15.3%. EBITDA margin was improved by 10% in one year.
The company has appointed advisors for merger with Tech Mahindra. Merger may possibly happen by October, says company.
It touched an intraday high of Rs 79.90 and an intraday low of Rs 77.85. At 09:22 hrs the share was quoting at Rs 79.45, up Rs 3.20, or 4.20%.
It was trading with volumes of 866,269 shares. In the previous trading session, the share closed up 3.81% or Rs 2.80 at Rs 76.25.
