Emerging markets continue to show strength: Mah Satyam

IT firm Mahindra Satyam reported a growth of 21% in revenues and sharp increase in margins in the fourth quarter, in a backdrop of an uncertain business environment globally.

The company posted net profit of Rs 534 crore in the fourth quarter of 2011-12 against a profit of Rs 308 crore in the previous quarter and a loss of Rs 327 crore in the comparable quarter last year.
The 73% rise in profits was helped by a Rs 109 crore exceptional gains from the sale of its Belgian subsidiary.  Its sales went up 21% to Rs 1,666 crore.
The company posted a loss of Rs 59 crore on account of forex fluctuations during the quarter.
Speaking to CNBC-TV18, CP Gurnani, CEO of Mahindra Satyam said, "In terms of sectors, technology, media and entertainment sector has done extremely well. US have done extremely well. Retail life sciences, pharma and consumer goods have done extremely. BFSI has been flattish or slightly negative. Europe has been flattish and slightly negative. Emerging markets continues to show strength as we go forward."
In the fourth quarter, the US contributed of 51% of Mahindra Satyam's revenues, followed by 25% in Europe and the remaining from the rest of the world.
For the full year, the company reported revenues of Rs 6,396 crore (Rs 5,145 crore), showing a growth of 24% and a net profit of Rs 1,306 crore as against a loss of Rs 147 crore in the previous year.