Mahindra Satyam has surged 8% to Rs 78.50 after reporting better-than-expected ten-fold year-on-year (y-o-y) jump in net profit to Rs 238.crore for the second quarter ended September 2011 on the back of strong demand for outsourcing services and rupee depreciation in recent months.
The IT company had a net profit of Rs 23.31 crore in the same quarter of the previous fiscal. Income from operations grew 27% to Rs 1,578 crore on a y-o-y basis.
On a sequential basis, net profit was up 6% and revenue rose 10% compared with the April-June quarter.
The company added 36 new clients during the quarter, including three Fortune 500 companies. It had 32,092 employees as of September 30, having net added 654 employees in the quarter. Attrition was down to 15.6% in Q2FY12, the company said in a filing to the stock exchanges.
A combined 1.4 million shares have changed hands on the counter in opening deals on both the exchanges.
