Intend to pursue PwC case with vigour: Mahindra Satyam

Mahindra Satyam on Thursday beat expectations with its first-quarter results. Consolidated revenues grew over 12% at Rs 1,880 crore on a sequential basis.

EBITDA also went up nearly 40% when compared to the last quarter. Chairman Vineet Nayyar, CEO CP Gurnani and CFO Vasant Krishnan spoke to CNBC-TV18 and explained the performance of the company amidst the slump in the domestic and overseas markets. Below is an edited transcript of the interview on CNBC-TV18. Q: Do you think the performance has been encouraging given the current economic conditions? Nayyar: We have posted fairly positive growth in terms of the bottom-line and our EBITDA has gone up to about 21.7%, which I think is positive. Q: Most of the litigation is behind you. What is the update with the PwC case now? Nayyar: We are pursuing the PwC case. The judicial process in India does take time and though we are at the beginning, we intend to pursue it with vigour. Q: The merger has received a significant amount of applause from the shareholders. What is the update on the merger process? Gurnani: The process is continuing and at this stage we are amidst court hearings, with then court's decision due in August and in September, the approval by the Maharashtra and Andhra Pradesh governments is due. We believe we are on the right path.