Bonus issue of 1:1 to celebrate the $1 billion milestone
Hyderabad, April 21, 2006
The Satyam Computer Services Limited (SCSL), the fourth largest Software and Services Company in the country posted a 37.98 per cent jump to Rs.981.73 crores in 2005-06 from the previous year 721.09 crores. The revenues of the company crossed $1 billion mark for the first time to touch $1.09 billion against the $793 million in 2005-06 with revenues of Rs. 4,792.59 crores, the New York Stock Exchange listed Satyam Computer has emerged as the largest corporation in Andhra Pradesh. The company posted revenues of Rs. 1,314 crores in the fourth quarter. Mr Raju said that the company had added 120 customers in 2005-06 including 12 Fortune 500 and US 500 corporations providing a strong platform for future growth.
The board has announced a bonus issue of 1:1 to celebrate the $1 billion milestone and a final dividend of 250 percent to its stakeholders. B Ramalinga Raju, the chairman of the company said in a press conference on Friday that the company expected 100 basis points decline in margins because wages would be raised by 18-19 per cent for the associates in India and between 5-6 per cent to overseas. The company would be hiring 10,000 to 12,000 persons gross in 2006-07.
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