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November 17, 2010

Mahindra Satyam reports net revenues of INR12.4m in Q2

Operating profit decreased to INR0.65m in Q2 FY11

By CBR Staff Writer

Mahindra Satyam, the new brand identity of Satyam Computer Services, a global consulting and IT services provider, has reported revenues of INR12.5m ($.28m) and INR12.4m ($.27m) for the first and second quarter of fiscal year 2011, respectively.

Operating profit as reported by the company stood at INR1.14m for Q1 and INR0.65m for Q2 of the fiscal year 2011.

The company has posted profit after tax of INR0.98m and INR0.23m in Q1 and Q2 of FY11, respectively.

Mahindra Satyam CEO CP Gurnani said the company’s performance over the last two quarters clearly reflects the stability that has been brought in.

"We have retained our traditional strengths and leadership in areas like Enterprise Business Solutions (EBS) and Integrated Engineering Services (IES) and our uninterrupted service delivery has helped us to expand on existing relationships, resulting in multiple order renewals," Gurnani said.

"We will continue to focus on enhancing capabilities, seek new partnerships, explore new domains and expand our global reach in a manner that enhances our customer experiences."

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