VARINDIA IT MAGAZINE

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Mahindra Satyam  and  Tech Mahindra  have announced the launch of its ambitious innovative programme of “Young CEO” showcasing the agility of a start-up and the experience of a behemoth. The  “Young CEO”  Programme is designed to nurture Young Leaders to take on significant roles with “end-to-end” responsibility in the areas of M&A, new business initiatives, platforms, or developing a new geography. The “Young CEOs” will be fully empowered to run the Sales, Delivery and the Domain arenas. These Leaders will be given development inputs throughout and will have Mentors and Coaches to guide them to perform this task. The programme will also foster innovation by encouraging a start-up mindset while providing early leadership opportunities to the associates. “I would like to focus on the creation of our CEO FORCE – a model of distributed leadership comprising home-grown leaders and young talent within th...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Mahindra Satyam has announced its unaudited consolidated financial results under Indian GAAP for the first quarter ended June 30, 2012. Consolidated Revenues is at Rs. 1880 crore, up 31% YoY. EBITDA is at Rs. 408 crore, margins at 21.7%, up by 417 bps QoQ. PAT at Rs. 352 crore, as compared to Rs. 225 crore in the previous year. EPS was Rs 2.99 per share in Q1. Vineet Nayyar, Chairman, Mahindra Satyam, said, “With this quarter, we have successfully ended our 3-year transformational journey, recording progress on the back of strong fundamentals, focus and investments. Global business realities continue to be unpredictable. However we are confident of taking forward our momentum.” CP Gurnani, CEO, Mahindra Satyam, said, “We compete in the marketplace today with investments in services, markets and our differentiators. Our plans to convert some of these bullets into cannonballs are a reflection of our performance this quarter....

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Mahindra Satyam has set up an exclusive delivery centre for Aerospace and Defense in Toulouse, France. This is a part of the company's larger strategy of expanding the European footprint with a focus to strengthen relationships with regional Aerospace and Defense businesses. The centre is Mahindra Satyam's second such investment after setting up its first dedicated Aerospace centre in Hamburg, Germany in 2008. The new centre is expected to ramp up operations and create opportunities for local talent in the Engineering, Information Technology and Communications domains. C. P. Gurnani, CEO, Mahindra Satyam, said, "We are excited to have reached another milestone in Europe. France is an important market for us and we are committed to investing on multiple fronts and enhancing the value delivered to our customers. The large talent pool coupled with excellent infrastructure in the region offers an environment conducive to d...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Mahindra Satyam has entered into a global services agreement with FuelQuest. Mahindra Satyam has agreed to provide implementation and support services to FuelQuest as it scales its operations across India, Brazil, China, Russia, USA and other target countries. Mahindra Satyam will augment FuelQuest's team to provide additional onsite or remote implementation and support services with regard to international customers. Furthermore, to scale appropriately with FuelQuest, Mahindra Satyam will establish the FuelQuest Service Centre within its Delivery centre in India staffed with experienced software professionals. C. P. Gurnani, CEO, Mahindra Satyam, said, "This agreement between Mahindra Satyam and FuelQuest marries two market leaders creating a global solution for energy companies to adopt and utilize FuelQuest fuel and tax automation software and services. This exclusive arrangement with Mahindra Satyam will support Fuel Quest...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Mahindra Satyam has announced its unaudited financial results under Indian GAAP for the Third quarter ended December 31, 2011. Financial Highlights for the Quarter ended December 31, 2011 are Consolidated Revenue was INR 1718 crores, up 9% QoQ, up 34% YoY. EBITDA was INR 278 crores up 15 % QoQ. EBIDTA Margins expand by 87 bps QoQ to 16.2%. Profit after Tax was at INR 308 crores versus Rs 238 Crores in Q2, up 29% QoQ, 424% YoY. EPS was at Rs. 2.62 in Q3 FY12 versus Rs. 2.02 in Q2FY12 Vineet Nayyar, Chairman, Mahindra Satyam said, "We continue on our path of building the organization and improving our operating metrics, in the face of some headwinds on the economic front." CP Gurnani, CEO, Mahindra Satyam said, "Our 3-pronged approach to the market through vertical, regional and service-line penetration coupled with effective portfolio management focus is showing consistent results in this changing environment. Investments into...