Mahindra Satyam Q1 net up 56% at Rs 352 cr

Consolidated revenues grow 31% to Rs 1,880 cr in quarter under review from Rs 1,434 cr a year ago

IT firm Mahindra Satyam today reported a 56% jump in its net profit at Rs 352 crore for the quarter ended June 30, 2012.

This is against a net profit of Rs 225 crore in the same quarter last year.

The company's consolidated revenues grew 31% to Rs 1,880 crore in the quarter under review from Rs 1,434 crore in the April-June 2011 quarter.

"With this quarter, we have successfully ended our three-year transformational journey, recording progress on the back of strong fundamentals, focus and investments. Global business realities continue to be unpredictable. However, we are confident of taking forward our momentum," Mahindra Satyam Chairman Vineet Nayyar said.

Mahindra Satyam's total headcount stood at 35,996 as of June 30, 2012, with a net addition of 2,643 people during the quarter.

Attrition levels for the company improved to 13.5% in Q1 FY13 compared to 17.3% in same quarter of the last year, while the active clients of the firm stood at 372 on a consolidated basis.