Moneycontrol Bureau
Software services exporter Mahindra Satyam (Satyam Computer Services) reported a fourth quarter consolidated net profit of Rs 454 crore, up more than five-fold quarter-on-quarter (down 15 percent year-on-year). Its revenue for the Jan-March quarter was down 0.2 percent sequentially (up 16 percent from a year ago) to Rs 1,936 crore. Analysts on average had expected Tech Mahindra owned Satyam to report a net profit of Rs 325 crore on revenue of Rs 1,945 crore, according to a CNBC-TV18 poll. Satyam's earnings in the fourth quarter were boosted by one-time gain of Rs 134 crore in reversals related to impairment losses in subsidiaries. In the Oct-Dec quarter, the company had exceptional loss of Rs 294 crore. In the year ago quarter, it had gains of Rs 109 crore. Its quarterly EBITDA (earnings before interest, taxes, depreciation and amortization) margin was at 20.1 percent. As of March 31, Satyam had 36,067 employees and It had 385 active clients. The company has announced a dividend of 30 percent. This is the first time Satyam is giving a dividend since it was hit by an accounting scandal back in 2008-09, when it was owned by Ramalinga Raju. Satyam had cash and cash equivalent of Rs 2,922 crore as of March 31. Satyam shares closed at Rs 109.45, down 0.3 percent on NSE. The results were announced after markets closed. Also Read: Bajaj Auto Q4 net down 1% at Rs 766 cr; beats streetDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
