Satyam net up 37%

Tech major Satyam Computer Services Ltd has reported a 37.01 per cent growth in its net profit and a 37.51 per cent growth in total income f...

Tech major Satyam Computer Services Ltd has reported a 37.01 per cent growth in its net profit and a 37.51 per cent growth in total income from services for the fiscal ended March 2005.

Following the robust performance, Satyam has announced a revenue guidance of touching $1 billion mark for the current fiscal (March 2006) at Rs 4,502 crore, a growth rate of between 26 per cent and 28 per cent over the last fiscal with a projected EPS of Rs 26.84 and Rs 27.30.

Analysts said Satyam fared better than expectations and were also happy to note that it came out with a reasonable guidance unlike the disappointing one from Infosys and disappointing TCS results.

Story continues below this ad

The profit in the fiscal was at Rs 721.09 crore as against Rs 526.31 crore last year while the total ,income from services grew to Rs 3,520.84 crore (Rs 2,560.50 crore). The company also exceeded EPS guidance by ending the fiscal with Rs 22.40, witnessing a growth of 37.45 per cent over the previous fiscal.

…To buy UK’s Citisoft

MUMBAI

: Satyam Computer Services Ltd., India’s No. 4 software services firm, said on Thursday it would acquire UK’s Citisoft Plc for up to $39.03 million. Satyam will initially buy up to 75 percent of Citisoft, a businesses and systems consulting services company, and the balance in two equal instalments, Satyam said.