Satyam Q3 net up 19.8% at Rs 174 cr

BS 200 SCORECARD

Satyam Computer Services Limited has reported a 19.82 per cent increase in its net profit for the third quarter ended December 31, 2004.

The net profit for the quarter was at Rs 174.78 crore as compared to Rs 145.86 crore in the corresponding previous quarter.

The company's software services income for the quarter increased 34.5 per cent to Rs 891.26 crore as compared to Rs 662.7 crore in the corresponding previous quarter.

Addressing a press conference here today, B Ramalinga Raju, chairman of Satyam Computer Services Limited, said, "Despite the 3.5 per cent appreciation of the rupee against the dollar, the company has achieved a significant sequential as well as a year-on-year growth."

Raju added that the growth was driven by a double-digit offshore volume increase and stable price. The company, he said, had witnessed growth across all verticals during the quarter.

"Manufacturing, our largest vertical, grew at 9.4 per cent and a significant achievement this quarter has been that the revenues from Europe and Asia Pacific region have grown, which has meant that the dependency on the North American markets has come down," Raju said.

The revenues from the European and Asia Pacific region witnessed a sequential increase of 21.3 per cent and 20 per cent respectively. Satyam, during the quarter, has added 28 new customers including three Fortune Global 500 companies.