Mahindra Satyam, a consulting, IT and business services provider has posted first quarter consolidated revenue of $320m, up 5.2% from previous quarter and 19.3% from previous year.
The company announced its financial results under Indian GAAP for the first quarter ended 30 June 2011.
EBITDA was at $46.9m, up 18.8% QoQ, while margin at 14.6% was up 168 bps, from 13.0% in 4Q FY11, said the company.
Profit after tax was at $50.2m.
The company said that it had 31,438 employees as of 30 June 2011, a net addition of 2,172 for the quarter. Attrition improved to 17% compared to 22% in Q4 FY11, said the company.
Mahindra satyam’s active customer count stands at 220.
Mahindra Satyam chairman Vineet Nayyar said the results demonstrate the company’s progression to the growth phase of its 3 year "transformation journey."
"Our relentless focus on market growth and margin expansion has yielded satisfactory results for yet another quarter. We are reasonably confident that we would capitalise on this momentum," said Nayyar.
However, he added that "turbulent macro-economic conditions can pose challenges to the business environment for the outsourcing industry."
Mahindra Satyam CEO CP Gurnani said, "Our M-Cube initiative which leverages the Mahindra eco-system, is a key differentiator and synergies within the group are helping our growth engine in areas such as Enterprise Mobility and Engineering Services.
"While our Investments in the US region are yielding results, our traction in Emerging economies is also very robust."
