Growth on track on higher Q4 sales, margins: Maha Satyam

Mahindra Satyam sees growth on tack after it reported higher fourth-quarter (January-March) net sales and operating margins and said it has cleared all pending law suits with the exception of the litigation with US-based Aberdeen Group, the company said.

The software services exporter's fourth quarter (January-March) net sales rose 7% to Rs 1,375 crore and operating margins doubled to 13% from 6.4% during the same period. Mahindra Satyam Q4 loss at Rs 327cr on exceptional items But with the company paying Rs 571 crore  as settlement towards class action litigation, it reported a net loss of Rs 327 crore quarter-on-quarter and said that it has made provision to cover any probable loss due to any further litigation even as action commenced by British firm, Upaid System, remains currently adjourned. In the March quarter, Satyam added 12 new accounts, the revenue from some of these accounts is expected to reflect in the next quarter, the company said. As of March 31, Satyam