Profits up by 86 per cent
Hyderabad, July 21, 2006
Chairman of the Hyderabad-headquarted Information Techologies and Solutions company, Satyam Computer Services Limited (SCSL), B Ramalinga Raju said that the Earnings Per Share (EPS) for the year would grow beween 27.5 and 29.5 percent. This would translate into a basic EPS of Rs.11.20 to 11.38 and diluted EPS of Rs.10.77 to 10.94.
A volume growth of 31 per cent in dollar terms and a depreciation of the rupee against dollar by 3.4 percent during the quarter ending June, revenues of Satyam increased by 36 percent to Rs.1443 crore and net profit spurted 86 percent to Rs. 354 crore. It has outperformed all the other major IT Companies in profit growth. The average salary increase for on site employees is six percent and offshore employees 18 percent. He said that during the last one and half years, the company had concentrate on margins and that had led to higher attrition rates.
Satyam is planning to increase its employee numbers by hiring about 10,000 employees at gross level during the year. If the attrition rate is 15 percent this would mean about 6000 to 8000 new jobs. Satyam had 26,511 employees at the beginning of the current finical year. The net addition of employees during the first quarter is at 1123.
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