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Satyam Q1 net up 45% at Rs 547.7 cr

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Press Trust of India Mumbai

The company had a net profit of Rs 378.32 crore in the first quarter of FY'08, Satyam said in a filing to the Bombay Stock Exchange.      

The total income rose to Rs 2,653.95 crore, from Rs 1,893.39 crore in the same quarter in FY'08.     

"During the first quarter of FY'09, Satyam achieved an annual revenue run rate of Rs 10,000 crore. In Q1, we grew by 8.5 per cent," Satyam Chairman B Ramalinga Raju said.     

Satyam reported a standalone Q1 net profit of Rs 575.91 crore, a 48 per cent growth over the previous year. The firm had a net profit of Rs 389.14 crore in the June quarter of FY'08.     

The total income rose to Rs 2,556.52 crore in the latest quarter, from Rs 1,820.93 crore in the year-ago period.     

 

"We were able to deliver this performance on the back of three per cent volume growth, helped, in part, by rupee depreciation," Raju added.     

Further, against the backdrop of a better margin performance and prevailing forex rates, the company revised its guidance for FY'09.     

"Consolidated revenue is expected to grow between 32-34.1 per cent," Raju said.     

During the June quarter, the company witnessed increased business activity in Asia Pacific and Middle East.     

"Companies in Europe that were slow to embrace offshoring are showing increasing interest to capitalise on our global delivery model. These regions continue to promise significant growth going forward," he added.     

Shares of the company were trading at Rs 417, up by 0.40 per cent on the BSE.

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First Published: Jul 18 2008 | 11:21 AM IST

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