Satyam Q4 net up 21.6 per cent

Hyderabad: Satyam Computer Services Ltd has posted a total income of Rs 725.70 crore with a net profit of Rs 140.84 crore for the quarter ended March 31, 2004. The company posted a 33.85 per cent growth in software services and 21.64 per cent in net profit respectively in rupee terms.

In dollar terms, the revenue was up 41 per cent year on year growth for the quarter. However, rupee fluctuation has impacted the net by Rs 21 crore. This meant the net was down at Rs 140.84 crore instead of Rs 161 crore. The revenues exceeded the company guidance of Rs 690 crore to Rs 700 crore. Satyam revised its revenue guidance upwards twice during last financial year.

The annual revenues for the year were Rs 2,541.55 crore, an increase of 32 per cent in dollar terms over the previous year. The annual earnings per share of Rs 17.64 represents a growth of 20.66 per cent. The sequential growth in software services income over the last quarter ended December 31, 2003 stood at 8.75 per cent in rupee terms as against 9.35 per cent in dollar terms.

The Chairman of Satyam, Mr B. Ramalinga Raju, said: "Our focus on competency enhancement and relationship management has been a key factor in growing existing accounts as well as acquiring new customers. The current customer base, including 101 Fortune Global 500 customers is indicative of the potential for our growth momentum. We shall continue to invest in sharpening our skills and processes for partnering with them in their journey towards business excellence."