Satyam Computer Services has announced a 117.76 per cent jump in net profit for the second quarter aided by a rising share of e-commerce revenues.
Net profit surged to Rs 66.94 crore for the quarter ended September 30, from Rs 30.74 crore in the same period last year. Total income has gone up by 80.24 per cent to Rs 283.92 crore from Rs 157.52 crore.
While income from software exports was at Rs 264.14 crore, other income contributed Rs 11.43 crore and domestic sales Rs 8.32 crore. The other income for the quarter includes an amount of Rs 9.4 crore from realised and unrealised gains due to foreign currency fluctuation.
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Operating profit for Q2 has improved by 73.1 per cent to Rs 106.52 crore. However, the operating profit margin has come down marginally from 39.06 per cent in the second quarter of last year to 37.5 per cent this year.
Revenues from the telecom division grew by 60 per cent and the telecom solutions constituted 9.9 per cent of the total revenues.
According to a company press release, Internet and e-commerce applications grew to 27.1 per cent (15.4 per cent for the same quarter last year). The traditional application development and management business continues to shrink from 59 per cent to 48.1 per cent of revenues on year on year basis.
Onsite and Offsite together now constitute 47.7 per cent of revenues compared to nearly 50 per cent for the same quarter last year.
The company has announced an interim dividend of Rs 0.36 per share (18 per cent on Rs 2 par value), the record date for which will be December 1. For the six months ended September (H1), Satyam has posted 107.32 per cent jump in net profit to Rs 117.31 crore from Rs 56.58 crore last year.
Total income for the first half has gone up by 78.24 per cent to Rs 524.64 crore from Rs 294.33 crore. Satyam