Satyam posts Rs 409.1 cr net profit, Rs 2,031.7 cr revenue

Hyderabad, Oct 23 (UNI) Wading into the drop of 260 basic points in the wake of weakening of the US Dollar, IT major Satyam Computer Services Ltd posted a healthy net profit of Rs 409.1 crore in the second quarter of the current fiscal, up 8.13 per cent from Rs 378.3 crore in the same quarter of the previous year.

Even as the margins dropped 19.82 per cent, the company recorded a revenue of Rs 2,031.7 crore in the second quarter of FY 2008, up 11 per cent from Rs 1,830.2 crore sales in the previous quarter.

However, the company registered Rs 43 crore forex gain in the second quarter with the strengthening of the Indian Rupee.

Buoyed by its performance, the company, at its board meeting held today, indicated that the earnings in the third quarter of the current fiscal could be between Rs 2,104.8 crore and Rs 2,115 crore.

In Dollar terms, the Q3 earnings could be between 538 million Dollars and 540.6 million Dollars.

Following the satisfactory performance, Satyam was confident of becoming a two billion Dollar company this year, projecting its revenue to be between 2.07 billion Dollars and 2.08 billion Dollars, riding on a revenue growth expected to be between 26.3 and 26.7 per cent in the current financial year.

It assured investors that the earnings per share (EPS) in the current fiscal was likely to grow by 25 to 25.1 per cent and could fetch them 1.24 Dollar in FY 08.

UNI