Tuesday, January 24, 2006

Satyam’s 3Q Revenue Rises by 39.5% to INR 12.65Bn

Satyam Computer Services, an Indian IT outsourcing company, has reported revenue of INR 12.65 billion for 3Q 2006, constituting a rise of 39.44 percent over the revenue for 3Q 2005. The net profit for the quarter increased by 63.6 percent over 3Q 2005 to INR 2.7 billion.

The company raised its revenue estimate for the fiscal year 2006 and expects it to be within a range of INR 47.8 billion to INR 47.86 billion, with an annual growth of 35.7 percent to 35.9 percent. The company generated around INR 1.6 billion from the sale of its stake in Sify, an Indian Internet solutions and e-commerce services provider. Around 35 new customers were added to Satyam’s clientele in 3Q 2006. The company increased its employee strength by 950 to a total of 23,432.

Nipuna, the BPO services arm of Satyam, recorded revenue of INR 220.6 million, a rise of around 21 percent over the previous quarter. The BPO services provider struck a EUR 7 million animation development deal with a German animation firm, 4K Animation, in the quarter. Nipuna employs around 1639 people.

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