Satyam net profit up 45%

Satyam Computer Services announces a 45 pc rise in net profit at Rs. 547 crore while its revenues were up 44 pc year on year for the quarter ended on June 30, reports HT Correspondent.

Satyam Computer Services on Friday announced a 45 per cent rise in net profit at Rs. 547 crore. Revenues were up 44 per cent year on year at Rs 2,620 crore for the quarter ended June 30.

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“We were able to deliver this performance on the back of growth in volumes, helped partly by rupee depreciation,” chairman B Ramalinga Raju said.

“Rupee depreciation and operational cost efficiencies led to an increase in their profit margins,” said Harit Shah, IT analyst, Angel Broking.

The company’s share price got hammered on the BSE and closed at Rs. 383, a 7.5 per cent drop.