Mahindra Satyam posts a 10-fold jump in Q2 net profit

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M. Satyam posts a 10-fold jump in Q2 net profit
Mahindra Satyam, a brand identity of Satyam Computer Services reported a whopping of Rs 238 crore in its net profits for the quarter ended September 30 against Rs 23 crore reported a corresponding quarter previous year. The company's profit rose more than 10 times year-on-year (y-o-y) during the quarter.

The company's profit after tax (PAT) rose by 5.7% on quarterly basis. It's PAT was seen at Rs 225 crore for the quarter ended June 30.

Net revenues of the company were up by 10% q-o-q at Rs 1,578 crore.

It's EBITDA was up by 13.7% q-o-q at Rs 242 crore.

Commenting on the results, Vineet Nayyar, Chairman, Mahindra Satyam, said, “Our growth momentum continues, for the 5th consecutive quarter. As we come towards the end of our 3-year transformation journey, it is indeed satisfying to see that all our key business performance indicators such as growth, profitability and talent retention, are on course.”

“We have shown significant improvement quarter on quarter, in spite of an uncertain macro-economic environment,” he added.

CP Gurnani, CEO, Mahindra Satyam, said, “This was an eventful quarter for us. Our emphasis on ‘differentiation’ and scaling up our market share through verticalized solutions is bearing fruit. Investments into emerging areas such as Enterprise Mobility and Smart Grid are gaining momentum”.

During the quarter, Mahindra Satyam partnered with Microsoft Corporation to offer modernization tools and solutions for the Child Support Systems.

Read more about: results, revenues, mahindra satyam, growth
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