Dear All,
Forwarding you the Result Update on Mahindra Satyam for 4QFY2011.
Quarterly results highlights: Mahindra Satyam (Satyam) reported its 4QFY2011 numbers. The company outperformed street’s expectations on the revenue as well as operational front, but its net profit got knocked off due to exceptional items. Dollar revenue grew by whopping 7.0% qoq (surpassing all Indian tier-1 IT players) to US$304mn from US$284mn in 3QFY2011 on the back of 3.5% qoq volume growth, 1.6% qoq gain due to favourable cross-currency movement and ~2% on the back of efficiency gained from fixed price bids. Pricing remained stable on a qoq basis for the company. In rupee terms, revenue came in at `1,375cr compared to `1,279cr in 3QFY2011, up 7.5% qoq.
The company recorded significant improvement of 531bp qoq in gross margin to 34.3% from 29.0% in 3QFY2011. EBITDA margin almost doubled qoq to 13.0% from 6.4% in 3QFY2011, registering an increase of 656bp. Margin enhancement came on the back of slightly lower employee costs, improved efficiency due to optimisation of resources (which led to lower SG&A) and steady utilisation level qoq at 73.5%.
Satyam’s bottom line during the quarter was negatively affected due to exceptional items worth `571cr (including `569cr as consideration of class action settlement and rest `2cr due to expenses related to forensic investigation and litigation support), which led to net loss of `327cr for the company. However, excluding exceptional items, PAT came in at `245cr, up 118% qoq, aided by tax reversal of `12cr and higher other income of `102cr (including `17cr of forex gain) vs. `87cr in 3QFY2011.
Kindly click on the following link to view the Report.
If you have any further queries, feel free to call us on 022 39357600, Extn: 6865 or mail us at advisory@angelbroking.com
With best regards,
Fundamental Advisory Desk
Angel Broking
Akruti Star,6th Floor, Road No.7,MIDC, Andheri (E),Mumbai – 93.
Call : (91) (022) 39357600 Ext. 6865
Website : www.angelbroking.com
Disclaimer: Ours is an advisory role. The final decision and consequences based on our information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.
No comments:
Post a Comment