Mahindra Satyam announces its Q2 financial results

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Mahindra Satyam announces its Q2 financial results

Mahindra Satyam has announced its financial results under Indian GAAP for the second quarter ended September 30, 2011.

Consolidated Revenue was INR 1,578 crores, up 10% QoQ, EBITDA was INR 242 crores up 13.7% QoQ. Margins expanded by 49 bps QoQ to 15.3%, Profit After Tax was at INR 238 crores versus Rs 225 Crores in Q1, up 5.7% QoQ, EPS was at Rs. 2.02 in Q2 of FY12 quarter versus Rs. 1.91 in Q1FY12.

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."

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."


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