Mumbai: Consulting and IT services provider Satyam Computer Services has announced a 17.84% jump in its January-March quarter profit after tax at Rs468.45 crore.
The company had reported a PAT of Rs397.51 crore for the fourth quarter ended March 2007.
The stand-alone total income increased to Rs2,337.84 crore for the quarter ended March 2008 from Rs1,778.40 crore in the year-ago period. The board of directors declared a final dividend of Rs2.50 on shares of Rs2 each (125%).
Accordingly, the total dividend recommended for the year is 175% (Rs 3.50 on shares of Rs2 each), including interim dividend of 50%, the company added.
For the year ended March 2008, the company posted a profit after tax of Rs1,715.74 crore as against Rs1,423.23 crore in the previous year. The total income increased to Rs8,394.48 crore for the year ended March 2008 from Rs6,410.08 crore a year ago.
Satyam added 32 customers in Q4, four of which were Fortune 500 companies. All these four are in the financial services industry, which was, as a whole, judicious in its awarding of contracts. The company added 1,122 associates, taking the total associate strength to 51,127 during the recently concluded quarter.
“The highlight of this quarter has been the continued improvement in all operating parameters, which helped us post better-than-guided performance. Increased productivity resulting from higher utilization, increased billing rates and offshore shift led to 164 bps improvements in margin,” stated V. Srinivas, CFO, Satyam Computer.
The technology major has also agreed to acquire S&V Management Consultants, a Belgium-based supply chain management (SCM) consulting firm. Founded in 1992, S&V specializes in supply chain strategy and performance, and supply chain process excellence solutions.
The road ahead
Going forward, Satyam expects revenue under Indian GAAP consolidated to be between Rs10,500 crore and Rs10,670 crore, translating into a growth rate of 23.9% and 25.9% over fiscal 2008. EPS for the full year is expected to be between Rs29.54 to Rs30.04, implying a growth rate of 17% to 19%.
For Q1 FY 2009, under Indian GAAP consolidated, revenue is expected to be between Rs2,500 crore and Rs2,512.5 crore, a growth rate of 3.5% and 4%. The EPS for the quarter is expected to be between Rs7.64 to Rs7.68.