Satyam unveils results
Barely days before Tech Mahindra’s open offer for an additional 20% stake, Satyam Computer Services made public the unaudited financial details that it had shared with bidders earlier. In a filing with exchanges, Satyam said soon after founder B Ramalinga Raju confessed to perpetrating a Rs 7,000-crore fraud in early January, the company lost about $183 million in contracts from 56 clients up to March 26.
However, Satyam says it received new business orders from 215 mostly existing customers with contract values totalling $380 million during the same period. The company had a bank balance of Rs 373 crore at the end of March 2009, but outstanding bank loans worth Rs 469 crore.
In the quarter ended December 31, 2008, the company had a PAT of Rs 181 crore on revenues of Rs 2,206 crore. Figures for the same period the previous year were not available for comparison. In January, Satyam had a PAT of Rs 4 crore on revenues of Rs 647 crore, and for February, it had a PAT of Rs 52 crore on revenues of Rs 637 crore.
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However, Satyam says it received new business orders from 215 mostly existing customers with contract values totalling $380 million during the same period. The company had a bank balance of Rs 373 crore at the end of March 2009, but outstanding bank loans worth Rs 469 crore.
In the quarter ended December 31, 2008, the company had a PAT of Rs 181 crore on revenues of Rs 2,206 crore. Figures for the same period the previous year were not available for comparison. In January, Satyam had a PAT of Rs 4 crore on revenues of Rs 647 crore, and for February, it had a PAT of Rs 52 crore on revenues of Rs 637 crore.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Labels: bank loans, bidders, business, open offer, orders, profits, revenues, Satyam, satyam profits, tech mahindra
posted by PressMart Team at
11:18 AM
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