Rupee slashes margins
Hyderabad, July 20, 2007
Satyam Computer Services on Friday registered a net profit of Rs. 378 crore for the quarter ended June 30 as against Rs. 354.12 crore for the same period last year up by 6.8 percent only. The total income rose 24.61 percent to Rs. 1830 crore for the quarter ended as against Rs. 1461 crore for the same period last year.
Satyam's Chairman B Ramalinga Raju called the company performance a good start for the financial year 2008, a year where the company's total income is estimated to exceed $2 billion. However, Citigroup Analyst Surendra Goyal commented that although the company's revenue growth was better than expectations, its profit was lower than projections.
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