Satyam’s Q2 Revenue up by 39% and Net Profit by 42% YoY; achieves better-than-guided performance

Hyderabad, November 07, 2008: Satyam (NYSE: SAY) today announced the audited results of the company for the quarter ended September 30, 2008 (Q2 2009). Here’s a summary:

Consolidated Indian GAAP Highlights

Revenue was Rs.2819.29 crore; a YoY increase of 38.8 % and a sequential increase of 7.6 %.
Net Profit after Tax was Rs. 580.9 crore; a YoY increase of 42.0 % and a sequential increase of 6.1 %.
EPS for Q2 2009 was Rs. 8.63; a YoY increase of 41.0 % and a sequential increase of 5.8 %.

EBITDA margin for the quarter was 23.1 %

B. Ramalinga Raju, Founder and Chairman – Satyam
“Our performance in Q2 has been encouraging. We continue to make significant investments in building competencies needed in this challenging environment.”


US GAAP Highlights

Revenue was US$ 652.2 mn; up 28.0 % YoY and 2.3 % sequentially.
Net Income was US$ 132.3 mn; YoY increase of 29.8 % and a sequential increase of 4.5 %.
Basic earning per ADS for the quarter was US$ 0.39; increase of 25.8 % YoY and up 2.6 % sequentially.
Operating margins (EBIT) for the quarter was 20.33 %.
Other Highlights

The parent company ended the quarter with 48,434 Associates, an addition of 1,814 Associates including 221 trainees for Q2 09. The number of Associates including subsidiaries and joint ventures stood at 52,865
Attrition on a trailing twelve months basis fell to 12.3 % from 12.6 % in Q1 FY09. Annualized quarterly attrition for the quarter stood at 12.7 %
33 Customers added during the quarter
V. Srinivas, CFO
“Increased volatility in the currency environment in Q2 continues: having an adverse impact on our annual USD revenue growth rate of 3%. Despite this, we have increased our annual (IGAAP & USGAAP) earnings per share guidance, driven by operational efficiencies.”


Key Awards and Recognitions in this Quarter

Satyam garners Third consecutive Asian MAKE Award
In September, a distinguished panel of Asian Fortune Global 500 business executives and leading knowledge management and intellectual capital experts named Satyam a Most Admired Knowledge Enterprise (MAKE) for the third year in a row. The panel rated Satyam against the MAKE framework—several key knowledge performance dimensions that drive competitive advantage. These include
creating a knowledge-driven corporate culture, developing knowledge leaders and workers, innovation and transforming corporate knowledge into shareholder value.

Satyam Wins Golden Peacock Award
The World Council for Corporate Governance presented Satyam with a coveted Golden Peacock Global Award for Excellence in Corporate Governance for 2008. The honor is especially relevant given that corporate governance best practices are considered key benchmarks by stakeholders who evaluate corporations. In fact, their importance is magnified in difficult economic environments..

Satyam wins UK’s India Business Award
Satyam earned a United Kingdom Trade and Investment India Business Award for Corporate Social Responsibility. Satyam was recognized for its work with the Byrraju Foundation, an organization founded by Satyam Chairman and Founder B. Ramalinga Raju. Satyam was honored for its participation in the Foundation’s program to provide remote electrocardiograms (EKGs) to villagers all over Andhra Pradesh, an initiative that likely prevented hundreds of people from suffering serious heart troubles.

Satyam BPO Wins 2 Six Sigma IQ Excellence Honors

Satyam BPO, the organization’s business process outsourcing arm, won two prestigious Six Sigma IQ Excellence Awards—for Best Defect Elimination in Service & Transaction and Best Design for Six Sigma. The International Quality and Productivity Center established the Six Sigma IQ Excellence Awards to honor, recognize and promote Six Sigma projects that demonstrate true best practices. The award ceremony was held at the 9th Asian Six Sigma Summit in Singapore.

For more information visit: http://www.satyam.com/

Satyam is an Global IT company providing consulting services, enterprise business solutions, application development services and engineering solutions to clients in over 20 industries.

Ritika N. Kaushik
Manager - Media Relations
Tel: 040-44357847

Satyam Computer Services
A5, TSR Tower, Raj Bhawan
Somajiguda, Hyderabad
500082

This release was published on openPR.