Satyam Computer Services posts Rs 538.4-crore revenue in Q4
By Our Convergence Bureau | 25 Apr 2003
Hyderabad: Satyam
Computer Services Ltd has recorded revenues of Rs 538.4
crore from software services for the fourth quarter ended
31 March 2003. It posted a net profit of Rs 115.79 crore
against Rs 115.15 crore in the corresponding period of
the previous year.
The company has made a provision of Rs 152 crore for losses in subsidiaries and decided to close down operations of the US-based Vision Compass Inc and three other subsidiaries: Medbiqitous, Intouch Technologies and dotcom ventures Avanti Global and Mackenna Ventures.
While Satyam sequentially registered a growth of 3.1 per cent in its income from software services, it achieved total income of Rs 2,051.51 crore for the financial year ended 31 March 2003, reflecting an increase of 13.78 per cent over the last financial year.
uring the fourth quarter, the company achieved Rs 538.43 crore as against its guidance of Rs 525 crore to Rs 535 crore. The board has cleared a final dividend of 110 per cent, which has added up to 150 per cent for the year. This was in tune with a decision to extend 20 per cent of the profit.
Satyam Computer chairman B Ramalinga Raju says the annual revenue growth of 16.84 per cent (software revenues) has been achieved despite the challenging economic and geopolitical environment in which the company had to operate. "What is more gratifying is the fact that during the year we emerged as a full service provider."
