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Tuesday, October 13, 1998

Satyam Computers net up to Rs 18 crore 

Our Infrastructure Bureau  
Mumbai, Oct 12: The Hyderabad-based Satyam Computers has reported a 113 per cent jump in net profit to Rs 18.41 crore for the second quarter of the current financial, against Rs 8.63 crore in the corresponding period last year. Income stood at Rs 91.85 crore, an increase of 142 per cent from Rs 37.95 crore last year. Earnings per share was Rs 28.31, compared with Rs 13.27.

Satyam Computers and its subsidiary companies have recorded a total income of Rs 101.58 crore for the quarter ended September 30, up from Rs 40.96 crore in the same period last year. A company release on Monday said that an additional Rs 2.58 crore (Rs 19.55 crore up to March 31, 1998 and Rs 23.21 crore till June 30) has been invested in the four subsidiaries -- Satyam Enterprise Solutions, Satyam Infoway, Satyam Renaissance Consulting and Satyam Spark Solutions, during the quarter.

For the first half, software income grew to Rs 170.71 crore from Rs 67.55 crore in the corresponding period, a jump of 153 per cent. Net profit for thefirst half increased by 124 per cent to Rs 33.70 crore from Rs 15.06 crore.

According to the release, it has consolidated its strengths as an end-to-end solutions provider by adding 21 customers in the first half. Fourteen of these are on client/server and leading edge technologies, which is in line with the company's strategy beyond 2000. Now, its customer base covers 20 countries spanning four continents. Satyam, the release adds, has continued to expand its market reach by executing projects in four new countries - Australia, Norway, Sweden and Bahrain.

The company has also increased the width of its offerings to include a blend of legacy, new and emerging technologies. It is working on several projects in advanced fields like data warehousing, electronic commerce, computer telephony, integration embedded software and web-centric applications.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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