Mahindra Satyam reports Rs59 crore Q3 net; revenue rises to Rs1,279 crore
14 Feb 2011
Mahindra Satyam, the erstwhile Satyam Computer Services, today announced a fiscal third quarter (October-December 2010) net profit of Rs59 crore, a 153 per cent rise quarter-over-quarter.
Consolidated revenue of the company that the Mahindra group acquired following an accounting fraud by its founders, stood at Rs1,279 crore during the quarter, up 2.97 per cent from the previous quarter.
Consolidated cash and cash equivalents were at Rs3,048 crore, up from Rs2,996 crore in Q2 FY 11
Operating profit (EBITDA before exceptional items) stood at Rs82 crore. Earnings per share (EPS) rose to Rs0.50 in the third quarter from Rs0.20 in the previous quarter.
During the quarter, Mahindra Satyam added 764 professionals to its employee list, taking total head count to 28,832 by end December 2010.
The quarter also saw its customer count rise to 217.
"Our efforts of investing in core competencies have begun to show encouraging results. The recognitions that we have received from our esteemed partners are true reflections of our inherent capabilities and encourage us to further rise to their expectations.