Satyam Computer's Fourth Quarter Profit More Than Doubles

Apr 10, 2001, 01:00 ET from Satyam Computer Services Ltd.

    HYDERABAD, India, April 10 /PRNewswire/ -- Satyam Computer Services,
 India's fourth largest software importer, today announced its earnings for the
 three months ended March 31, 2001 and the year ended March 31, 2001. The
 highlights are as follows.
 
     *     The fourth quarter revenues increased by 85.8 percent to
           Rs. 384.24 crore (US$ 82.62 million) as compared to the revenue of
           Rs. 206.79 crore (US$ 47.5 million) in the corresponding quarter of
           FY 2000.
 
     *     The net profit after tax was Rs. 111.34 crore (US$ 23.94 million) --
           an increase of 164.25 percent over the net profit of Rs. 42.09 crore
           (US$ 9.66 million) in the corresponding period last year.
 
     *     The net profit after tax, before extraordinary items, for FY 2001
           was up 134.43 percent from Rs. 134.86 crore (US$ 31.12 million) for
           the financial year ended March 31, 2000 to Rs. 316.16 crore
           (US$ 69.23 million) for the current financial year ended March 31,
           2001.
 
     Commenting on the results, Satyam Chairman B. Ramalinga Raju said, "We are
 cautiously optimistic about our growth prospects for the current financial
 year."
     In Q4, Internet and E-commerce provided 23 percent of the revenues
 (30.73 in Q3) and the traditional maintenance business stood at 23 percent
 (18.47 in Q3).  The ERP business contributed eight percent (6.8 in Q3) to the
 total revenues while offshore business constituted 59 percent of the pie.
 North America's share of revenue was 75 percent (74 in Q3) and Europe
 contributed seven percent (7.12 in Q3), with Japan at four percent (4.3 in Q3)
 and the rest of the world at 14 percent (14.8 in Q3).
     Many of the factors that underlie Satyam Computer Services' strong fourth
 quarter performance are expected to support the company's growth in the next
 quarters.  With over 300 customers in about 35 countries around the world,
 Satyam Computers is further strengthening its account management and business
 development approach.  Over the past year, the company has been building
 alliances with best-of-breed global vendors to offer end-to-end IT solutions.
 Partnerships with enterprise technology vendors like i2, Ariba, Siebel,
 Vignette and SAP have helped win new projects and increase market share at
 existing accounts.  Satyam Computers recently reorganized itself into several
 virtually independent business units, each with its own P&L responsibility,
 besides delivery and business development resources.  This reorganization has
 given the company tremendous opportunity to enlarge its market reach and
 leverage customer relationships.
     The number of net employee addition during the year was 3303, bringing the
 total to 8370.  Given the current market situation, Satyam Computers feels
 confident in being able to reduce its attrition rate during the current
 financial year and keep its manpower costs below industry norms.  The
 company's commitment to quality got yet another stamp of approval when it
 became the first organization in the world found to be in accordance with
 requirements of the new ISO 9001:2000 international standards.
     Satyam Computer Services' audited financial results for the quarter and
 year ended March 31, 2001 can accessed by logging on to the company web site
 http://www.satyam.com and then clicking into the "Investor Information"
 section, or by directly logging on that page with the address
 http://www.satyam.com/q4-2k1.html.
 
 

SOURCE Satyam Computer Services Ltd.
    HYDERABAD, India, April 10 /PRNewswire/ -- Satyam Computer Services,
 India's fourth largest software importer, today announced its earnings for the
 three months ended March 31, 2001 and the year ended March 31, 2001. The
 highlights are as follows.
 
     *     The fourth quarter revenues increased by 85.8 percent to
           Rs. 384.24 crore (US$ 82.62 million) as compared to the revenue of
           Rs. 206.79 crore (US$ 47.5 million) in the corresponding quarter of
           FY 2000.
 
     *     The net profit after tax was Rs. 111.34 crore (US$ 23.94 million) --
           an increase of 164.25 percent over the net profit of Rs. 42.09 crore
           (US$ 9.66 million) in the corresponding period last year.
 
     *     The net profit after tax, before extraordinary items, for FY 2001
           was up 134.43 percent from Rs. 134.86 crore (US$ 31.12 million) for
           the financial year ended March 31, 2000 to Rs. 316.16 crore
           (US$ 69.23 million) for the current financial year ended March 31,
           2001.
 
     Commenting on the results, Satyam Chairman B. Ramalinga Raju said, "We are
 cautiously optimistic about our growth prospects for the current financial
 year."
     In Q4, Internet and E-commerce provided 23 percent of the revenues
 (30.73 in Q3) and the traditional maintenance business stood at 23 percent
 (18.47 in Q3).  The ERP business contributed eight percent (6.8 in Q3) to the
 total revenues while offshore business constituted 59 percent of the pie.
 North America's share of revenue was 75 percent (74 in Q3) and Europe
 contributed seven percent (7.12 in Q3), with Japan at four percent (4.3 in Q3)
 and the rest of the world at 14 percent (14.8 in Q3).
     Many of the factors that underlie Satyam Computer Services' strong fourth
 quarter performance are expected to support the company's growth in the next
 quarters.  With over 300 customers in about 35 countries around the world,
 Satyam Computers is further strengthening its account management and business
 development approach.  Over the past year, the company has been building
 alliances with best-of-breed global vendors to offer end-to-end IT solutions.
 Partnerships with enterprise technology vendors like i2, Ariba, Siebel,
 Vignette and SAP have helped win new projects and increase market share at
 existing accounts.  Satyam Computers recently reorganized itself into several
 virtually independent business units, each with its own P&L responsibility,
 besides delivery and business development resources.  This reorganization has
 given the company tremendous opportunity to enlarge its market reach and
 leverage customer relationships.
     The number of net employee addition during the year was 3303, bringing the
 total to 8370.  Given the current market situation, Satyam Computers feels
 confident in being able to reduce its attrition rate during the current
 financial year and keep its manpower costs below industry norms.  The
 company's commitment to quality got yet another stamp of approval when it
 became the first organization in the world found to be in accordance with
 requirements of the new ISO 9001:2000 international standards.
     Satyam Computer Services' audited financial results for the quarter and
 year ended March 31, 2001 can accessed by logging on to the company web site
 http://www.satyam.com and then clicking into the "Investor Information"
 section, or by directly logging on that page with the address
 http://www.satyam.com/q4-2k1.html.
 
 SOURCE  Satyam Computer Services Ltd.