Satyam post 46% increase in revenues
Outperforming its own guidance, IT major Satyam Computer Services Ltd has posted a 46 per cent increase in revenue to touch Rs 8,473.49 cr in 2007-08 and a net profit of Rs 1,687.89 crore, registering an year-on-year growth of 39.7 per cent.
The slowdown in American economy has prompted the country's fourth largest software company to project a reduced growth rate of 24 to 26 percent for the current fiscal even as it geared up for reducing dependence on US markets and exploring opportunities in European and Asia-Pacific regions.
The net profit for the quarter ended March 31 stood at Rs 466.85 cr, up by 18.6 per cent
over the corresponding period last year, while the total income touched Rs 2,416.02 cr, reflecting a 35.8 percent growth over the same period last fiscal.
Announcing the results after the company's board meeting here, its Chairman B Ramalinga Raju said despite a 11 percent drop in US Dollar value, the company posted a healthy growth rate.
At present, the American markets account for nearly 60 percent of Satyam's revenues.
In view of the uncertainty in the US markets, the company plans to shift its focus away from North America and concentrate on opportunities in European and Asia-Pacific markets.
"The US slowdown is an issue that is engaging the world attention. The net effect is that it will throw up new opportunities for us. Satyam will explore ways to maintain growth, including expansion into different industries, regions and services
.
The slowdown in American economy has prompted the country's fourth largest software company to project a reduced growth rate of 24 to 26 percent for the current fiscal even as it geared up for reducing dependence on US markets and exploring opportunities in European and Asia-Pacific regions.
The net profit for the quarter ended March 31 stood at Rs 466.85 cr, up by 18.6 per cent
over the corresponding period last year, while the total income touched Rs 2,416.02 cr, reflecting a 35.8 percent growth over the same period last fiscal.
Announcing the results after the company's board meeting here, its Chairman B Ramalinga Raju said despite a 11 percent drop in US Dollar value, the company posted a healthy growth rate.
At present, the American markets account for nearly 60 percent of Satyam's revenues.
In view of the uncertainty in the US markets, the company plans to shift its focus away from North America and concentrate on opportunities in European and Asia-Pacific markets.
"The US slowdown is an issue that is engaging the world attention. The net effect is that it will throw up new opportunities for us. Satyam will explore ways to maintain growth, including expansion into different industries, regions and services
.
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