Mahindra Satyam announces financial results for Quarters ended June 30, 2010 & September 30, 2010
Mahindra Satyam announced its financial results for the first and second quarter ended June 30, 2010 & September 30, 2010.
- (1888PressRelease) November 17, 2010 - Hyderabad - Mahindra Satyam, the new brand identity of Satyam Computer Services Ltd., a leading global consulting and IT services provider, today announced its unaudited Indian GAAP results for Q1 & Q2 of FY 2010-2011.
Financial Highlights for the Q1 & Q2 FY2011.
Under Indian GAAP consolidated basis:
• Revenue for Q1 and Q2 was Rs 1,248 Crores and Rs 1,242 Crores respectively
• Operating Profit for Q1 and Q2 was Rs 114 Crores and Rs 65 Crores respectively
• PAT for Q1 and Q2 was Rs 98 Crores and Rs 23 Crores respectively
• Headcount was at 27,722 and 28,068 for Q1 and Q2 respectively
Under Indian GAAP Standalone basis:
• Revenue for Q1 and Q2 was Rs 1,154 Crores and Rs 1,151 Crores respectively
• Operating Profit for Q1 and Q2 was Rs 101 Crores and Rs 63 Crores respectively
• PAT for Q1 and Q2 was Rs 104 Crores and Rs 29 Crores respectively
Vineet Nayyar, Chairman, Mahindra Satyam, said, "The announcement of Quarterly results is an important first step towards building a high-growth business. The synergies with M&M and Tech Mahindra are quite visible and we are seeing definite traction in our joint go-to-market strategies."
CP Gurnani, CEO, Mahindra Satyam, said, "Our performance over the last two quarters clearly reflects the stability that has been brought in. We have retained our traditional strengths and leadership in areas like Enterprise Business Solutions (EBS) and Integrated Engineering Services (IES). Our uninterrupted service delivery has helped us to expand on existing relationships, resulting in multiple order renewals."
"We will continue to focus on enhancing capabilities, seek new partnerships, explore new domains and expand our global reach in a manner that enhances our customer experiences," he added.
About Mahindra Satyam
Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.
The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Mahindra Satyam is part of the $7.1 billion Mahindra Group, a global industrial federation of companies and one of the top 10 industrial firms based in India. The Group's interests span financial services, automotive products, trade, retail and logistics, information technology and infrastructure development.
Mahindra Satyam's development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations. For more information, see www.mahindrasatyam.com, Follow us on Twitter: http://twitter.com/mahindra_satyam
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Mahindra Satyam undertakes no duty to update any forward-looking statements.
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam