| Satyam Q1: Consolidated net soars 86% |
| Our Web Bureau / Mumbai July 21, 2006 |
| Satyam's consolidated Q1 net profit as per Indian GAAP has soared 86.18% to Rs 354.12 crore when compared with Rs 190.20 crore in the corresponding June quarter last year. According to a release issued by Satyam to the BSE, the company's total income has increased by 40.22% to Rs 1,517.41 crore from Rs 1,082.12 crore in a year ago period. B Ramalinga Raju, chairman of Satyam, said: "In Q1, the company has reported a revenue of Rs 1,443 crore, a sequential growth of 9.84%, as per Indian GAAP consolidated financials. Earning per share at Rs. 10.87 has grown by 23.67% sequentially. The revenue and earning per share for Q1 have exceeded the forecasted range on the back of robust volume growth and a favorable exchange rate movement during the quarter. The revenue growth has been fuelled by a 7.2% increase in volumes and higher contribution from offshore, both critical initiatives that we focus on. "The growth continues to be broad-based across verticals and service offerings. The dispersion of growth across a larger customer base is evident from the higher growth recorded across the non top 10 customers in Q1. "We added 34 new customers in this quarter. Offshore contribution continued to increase in Q1 reflecting our maturity in leveraging the global delivery model effectively to deliver enhanced value for the customer. Over the last 4 quarters, the offshore contribution has increased by 4% and now stands at 47%. "We have made rapid progress in ramping up existing customers in the past few quarters. Our relationship management focus on leveraging opportunities across prominent customer accounts is amply reflected in the sequential increase of 10 million dollar customers from 27 to 33. The number of customers with an annualized billing exceeding 5 million dollars has also increased sequentially from 46 to 51. This reiterates our customers |
