The Hindu : Andhra Pradesh / Hyderabad News : Satyam continues to top IT exports!

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Friday, Jul 03, 2009
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Satyam continues to top IT exports!

Figures may change once the process of restatement of accounts is completed

Satyam’s exports for the year ending March 31, 2009 pegged at Rs. 4,231.93 crore
Total exports from the State Rs. 32,509 crore as against Rs. 26,122 crore in previous year

HYDERABAD: Mahindra Satyam (formerly Satyam Computer Services Limited) may have faced the worst crisis since its inception following the disclosure of fudging of accounts by its former chairman B. Ramalinga Raju.

But, the company continues to lead others when it comes to IT exports. Satyam has moved ahead of other IT majors to retain the top spot in IT exports from the State for the year 2008-09. Satyam’s exports for the financial year ending March 31, 2009 were pegged at Rs. 4,231.93 crore against Rs. 3,331 crore during the previous fiscal. Wipro, Infosys, Microsoft, Prithvi Solutions and Tata Consultancy Services were other major companies that achieved more than Rs. 1,000 crore exports during the fiscal. STPI director general N. Krishnan and Hyderabad unit director P. Venugopal clarified that the tentative figures were submitted by Satyam and could change once the process of restatement of accounts was completed. The overall exports figure would change by about five per cent to 10 per cent after the restatement of accounts of Satyam were completed. They were speaking at a meeting organised here on Thursday in connection with release of export performance of IT sector in the State by IT Minister K. Venkat Reddy. On the performance during the previous year, they said total exports from the State were put at Rs. 32,509 crore up 24.5 per cent from the previous year’s Rs. 26,122 crore. There was, however, a drop in growth rate when compared with the 41 per cent growth registered during the previous fiscal.

They said 69 new companies – including 60 Indian companies and nine from abroad - were registered as STP units during the year with projected investment of Rs. 510 crore.

12,786 new jobs

In all, 12,786 new jobs were added taking the direct employment in IT/ITeS industry to 2.51 lakh from the previous year’s 2.39 lakh jobs.

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