Satyam profits up 39% in '05

NEW DELHI: Satyam Computer Services has announced 39 percent increase in consolidated net profit under Indian GAAP to Rs 711.64 crore for the year ended March 31, 2005 as compared to Rs 513.38 crore for the year ended March 31, 2004. Total income has increased 37 percent to Rs 3607.68 crore for the year ended March 31, 2005 from Rs 2635.56 crore for the year ended March 31, 2004.

On a standalone basis, Satyam has announced a 34.9 percent increase in PAT for the year ended March 31, 2005 to Rs 750.26 crore as compared to Rs 555.79 crore in the corresponding period last year. The company's total income for the year ended March 31, 2005 increased by 35.2 percent to Rs 3546.77 crore as compared to Rs 2623.27 crore in the corresponding period last year.

For the year ending March 31, 2006, Satyam expects its revenue to rise 26 percent -28 percent, while EPS is projected to grow by 20 percent -22 percent to anywhere between Rs 26.84 to Rs 27.3.

Announcing the results, Satyam chairman B Ramalinga Raju said, "Q4 has been a landmark quarter in more than one ways. Recorded total income in excess of Rs 1,000 crore on a consolidated basis. This is the first quarter in the whole of Satyam's existence so far in any given quarter to record Rs 1,000 crore. Besides, we have added 5,132 associates in this quarter, which is again the highest number in any quarter in a single year."

The company has crossed the milestone of having 20,000 associate strength (including subsidiaries employee strength). Raju added, "We are moving in to the $ billion club and are one of the youngest global IT companies to cross the associate strength of 20,000."

Stressing BPO as the focused area, Raju said, "Nipuna has reported revenues of $ 10 million and is expecting to record $ 18 million by the year ending March 31, 2006. Nipuna added 11 customers during fiscal 2005 taking the total number of customers to 21. We are giving a revenue guidance of $ 18 million for the fiscal 2006."