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Satyam spends over Rs 1,000 cr on salaries in Jan-March 2009
Scam-hit Satyam Computer said it has spent over Rs 1,000 crore on paying salaries to its employees in the first three months of this year.
Scam-hit Satyam Computer on Tuesday said it has spent over Rs 1,000 crore on paying salaries to its employees in the first three months of this year.
According to the cash outlays information of the company for the first three months of this year, Satyam spent a total of Rs 1,026 crore on paying salaries and another Rs 342.72 crore in other employee-related segments.
The company made a cash outlay of Rs 91.17 crore on medical insurance for employees and Rs 251.55 crore on statutory compliance, the company said in the filing to the stock exchanges.
Overall, the company’s total operating cash outlays stood at Rs 1,836 crore at the end of March this year.
The other expenditures of the company include -- sub contractors, rent and utilities, travel and forex and other operating expenses.
At the end of March this year, the company’s total headcount stood at 41,622, while its key subsidiaries, including Satyam BPO, had an employee strength of 3,828 associates.
Further, the non-operating cash outlays by the company in the three months period include capital expenditures (Rs 52.54 crore), marked to market losses on account of foreign exchange contracts (Rs 147.81 crore) and repayment of loans (Rs 103.86 crore).
