Mahindra Satyam Q3 profit drops 74% on Aberdeen settlement

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PTI: Hyderabad, Jan 31 2013, 20:31 IST

confident that this matter will be closed soon and we will operate as a combined entity in the near future. In fact defacto we have already doing that," he said.

Tech Mahindra took over reins of Satyam Computers in April 2009 and rebranded it as Mahindra Satyam.

Currently both the companies are awaiting respective High Court approvals for merger.

On market conditions Nayyar said though there are some positive indications, overall turnaround will take some more time especially in Eurozone.

Decision making cycles would continue to prolong as in 2012 as customers closely monitor the markets before making spends, he added.

Mahindra Satyam CEO CP Gurnani said most of the large customers in the US have declared a forced shutdown during the quarter as holiday.

"Currently America accounts for 53 per cent, Europe 24 per cent and Rest of the World is 24 per cent. I personally see that this trend would continue for some time," Gurnani said.

Employee utilisation is running at 77 per cent, Gurnani added.

Total headcount of the company stood at 36,956 as of December 31, 2012, a net addition of 169 over previous quarter and attrition stood at 13 per cent during the quarter.

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