Mahindra Satyam shares surge 4% post Q4 earnings

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Mahindra Satyam shares surge 4% post Q4 earnings
Shares of Mahindra Satyam surged 4% on Friday after reporting its numbers after market closing hours on Thursday. The company posted a net profit of Rs 534.21 crore for this quarter ended March 2012, against net loss of Rs 326.98 crore in the corresponding quarter of the previous year.

The shares of the company were seen trading higher by 4% at 69.65 at 12.08 pm IST, after reaching an intraday high of Rs 72.00.

For the full year ended 31 March 2012, Mahindra Satyam has reported a net profit of Rs 1,306 crore as against a loss of Rs 147 crore in the previous year. Revenues stood at Rs 6,395.6 crore, up 24.3% from Rs 5,145.1 crore in last year.

"We continue to make steady progress in our transformation journey. Our results for the past 3 years and the current quarter are a vindication of our growth strategy and the fighting spirit of team Mahindra Satyam. Despite the uncertainties in the global market, our team has proved its mettle through sustained volume growth, improved margins, key client additions and creation of innovative platform and offerings, " Vineet Nayyar, Chairman, Mahindra Satyam said in the release.

Mahindra Satyam’s revenue rose by 21.1% on a year-on-year basis to Rs.1,665.84 crore in Q4. Total headcount stood at 33,353 as of March 31, 2012, a net addition of 1,073 QoQ and 4,087 YoY.

Attrition of the company improved to 15% in Q4FY12 as compared to 22% in corresponding quarter of last year. EPS was Rs 4.5 per share in Q4, company said in press release.

Read more about: satyam, mahindra, results
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