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Satyam Q3 net zooms 182%

The revenue run rate is expected to reach $1.1 bn and the co proposes to expand its wings in S America, Europe.

india Updated: Jan 20, 2006 17:51 IST
Press Trust of India
Press Trust of India

IT giant Satyam Computer Services Ltd (SCSL) said on Friday that its net profit jumped by 13.65 per cent to Rs 269.73 crore during the third quarter of this fiscal, as against Rs 164.06 crores in the year-ago period.

Announcing the Q3 results, SCSL Chairman B Ramlinga Raju told reporters that the revenue from software services at Rs 1,265.29 crore was up 39.44 per cent compared to last year's Q3 and 9.55 per cent sequentially.

The revenue guidance for the current year is revised upwards and is expected to be in the range of Rs 4,780 crore to Rs 4,786 crore, indicating an annual growth of 35.7 per cent to 35.9 per cent, he added.

Raju said the revenue run rate is expected to reach $1.1 bn this year while the company is proposed to expand its wings in South America and Europe without elaborating the financial deals in these projects.

SCSL, which is present in 53 countries, would expand further, he added.

The Chairman said the net profit closed at Rs 269.73 crore, a growth of 63.60 per cent YoY and 13.65 per cent sequentially.

EPS for the quarter is at Rs 8.36, higher than the guidance of Rs 7.72 -Rs 7.76. Including the profits from the sale of the Sify stake, the company reported a net profit of Rs 429.54 crore.

He said Satyam added 35 new customers in Q3, of which six are Fortune Global 500 companies. This has increased Satyam's customer base of Fortune Global 500 and Fortune US 500 corporations to 155, Raju added.

Talking about Nipuna, a cent per cent subsidiary of SCSL, Raju said the company recorded a growth of 21.2 per cent at Rs 22.1 crore.

He said Satyam group has posted a consolidated profit after taxation and share of loss in association companies -City Soft and Knowledge Dynamic and minority interest of Rs 429.54 crore for third quarter comparing to Rs 164.87 crore for the same quarter last year.

First Published: Jan 20, 2006 11:53 IST