Satyam Computer Services posts a 37.2 per cent increase in net profit

Indian IT company Satyam has come out with their latest quarterly report and the company has posted a 37.2 per cent increase in net profit at Rs 397.50 crore.

This is an improvement from profits of Rs 289.80 crore in the same period last year. Satyam added in the report that their revenues during the quarter grew 38.13 per cent to Rs 1,778.40 crore.

Satyam’s EBITDA stood at 23.1 per cent. Their operating profit margins were however down to 23.83 per cent compared to the same period last year.

For the full year, Satyam said that they saw a 14.80 per cent increase in net profit at Rs 1,423.23 crore. The revenues were up 27.89 per cent to touch Rs 6,410.08 crore.

The Telecom sector was one of the major improvement areas for the company. Satyam also added that they are on their way to touch the $2 billion mark in current financial year.

Satyam Computer Services Chairman Ramalinga Raju added in a statement on their performance: “Though the rupee appreciated by 6 per cent, the company was still able to not only meet the guidance, but also improve it over. This is a noteworthy achievement.”