The Hindu : Business : Satyam Q3 net at Rs. 270 cr.

Online edition of India's National Newspaper
Saturday, Jan 21, 2006

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Business

Satyam Q3 net at Rs. 270 cr.

Special Correspondent

Revises revenue guidance upwards

HYDERABAD: Continuing its robust growth, Satyam Computer Services Limited has posted Rs. 1,265.29 crore revenues from software services during the third quarter ended December 31, 2005, marking a 39.4 per cent increase over Rs. 907.39 crore in the corresponding period in the previous year.

The net profit stood at Rs. 269.74 crore, 63.6 per cent higher than Rs. 164.87 crore recorded in the previous year. Coupled with profit on sale of Satyam's stake in Sify, the net profit stood at Rs. 429.54 crore.

Following the achievement, the company has revised its revenue guidance upwards and it is expected to be in the range of Rs. 4,780-4,786 crore, enabling the company to reach the target of achieving a billion dollar revenue.

Earnings per share for the quarter were Rs. 8.36, higher than the guidance of Rs. 7.72-7.76.

The EPS for the fiscal is expected to be between Rs. 30.31 and Rs. 30.36, marking an annual growth of 35.3 per cent.

Announcing the audited financial results, Satyam Chairman, B. Ramalinga Raju, categorically said that never in the past was the company in dialogue with any large system integrators with a merger proposal nor was it intending to do so in the near future.

Responding to a query about the reports over IBM's plans to acquire Satyam, he said: "There were rumours about the issue and we gave a categorical response to them."

On the company's plans, he said Satyam was expanding its global operations by setting up development centres, but the company was desirous of having more operations from India.

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