The strong and recent appreciation in rupee against dollar forced Satyam Computer Services to reduce its earnings per share (EPS) forecast for the current fiscal year to a range of Rs 16.06-16.26 from the earlier projected range of Rs 17.05-17.12.
On an equity base of Rs 62.91 crore, Satyam recorded an EPS of Rs 15.78 during the last fiscal. Satyam has projected a software services income of Rs 525 crore to Rs 540 crore for the third quarter ending December 2002, with an operating margin of 32 per cent, as compared to 31.23 per cent in the second quarter.
Announcing the downward revision of earnings forecast here today, B Ramalinga Raju, chairman of Satyam, said the income from software services was expected to be in the range of Rs 2,080 crore to Rs 2,116 crore for the current fiscal, compared with Rs 1,775 crore in the previous year.
He said that the operating margin for the full year would be around 32 per cent.