Satyam to add 14000-15000 employees in FY09

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Satyam has announced its Q1 FY09 results. It's net profit was up 17.3% at Rs 548 crore versus Rs 467 crore (QoQ). The net sales was up 8.5% at Rs 2,620.8 crore versus Rs 2,416 crore (QoQ).

The company's other income was at Rs 33.12 crore. Its BPO revenue was at Rs 49 crore. Its operating profit margins increased by 131 bps at 24.1% versus 22.79%.

Key takeaways from Satyam Computer concall

Guidance

FY09 US GAAP revenue seen at USD 2.65-2.69 billion.

FY09 Indian GAAP revenue seen at Rs 11,181-11,363 crore.

Q2 US GAAP revenue seen at USD 645.6-651.9 million.

FY09 EPS seen at Rs 31.83-32.35.

Q2 EPS seen at Rs 7.71-7.78.

Dollar guidance maintained.

Rupee guidance hiked for rupee alone.

Revenues guidance increased to 32-34.1% to Rs 11181 -11363 crore.

Revenues EPS increased to 26.1- 28.2% to Rs 31.8 -32.35.

Seen improvement in EBITDA margin by 50 bps

Gross additions of employees around 14000-15000 in FY09

The company has won three large deals and will see continued demand in ERP space.

It lost one animation business of BPO in Q1. Despite this Q1 volume growth was 3%. 

BPO Revenue setback only temporary

Subsidiaries

Satyam BPO -  Revenues of Rs 49 crore and loss of Rs 21 crore

Bridge consulting company - Revenues of Rs 33.18 crore and profits of Rs 4.84 crore

Attrition rate maintained at 10.95%

Took forex loss hit of Rs 36 crore in Q1

Revenue contribution from top 10 clients consistent

Telecom, retail, transportation verticals have done well

Challenges in financial services sector are greater