Satyam announces Q2 results – Wires and Websites

Satyam announces Q2 results – Wires and Websites

Business Outlook

1. For fiscal 2008, under US GAAP, revenue is expected to be between US$ 2.07 bn and US$ 2.08 bn, implying a growth rate of 41.5 % to 42.0 % over fiscal 2007. Basic earning per ADS for fiscal 2008 is expected to be US$ 1.24, implying a growth rate of 36.0 % over fiscal 2007.

2. Corresponding revenue growth under Indian GAAP consolidated is expected to be between 26.3 % and 26.7 %. EPS for the full year is expected to be between Rs. 25.0 and Rs. 25.1, implying a growth rate of 16.5 % – 17.0%.

3. For Q3 FY 2008, under US GAAP, revenue is expected to be between US$ 538.0 mn and US$ 540.6 mn, implying a growth rate of 5.6 % to 6.1 %. Basic earning per ADS for Q3 08 is expected to be US$ 0.31.

4. For Q3 FY 2008, under Indian GAAP consolidated, corresponding revenue growth rate is expected to be between 3.6% and 4.1%; EPS for the Quarter is expected to be between Rs. 6.18 and Rs. 6.21.

Consolidated Indian GAAP Highlights

The highlights of the results for the quarter under Indian GAAP Consolidated basis are:

1. Revenue was Rs.2031.7crore; a YoY increase of 26.8% and equential increase of 11.0 %.

2. Volume growth for the quarter was 9.1%.

3. Net Profit after Tax was Rs. 409.1 crore; a YoY increase of
27.9% and a sequential increase of 8.1 %.

4. EPS was Rs. 6.12; a YoY increase of 25.1 % and a sequential ncrease of 8.0%.

5. EBITDA margin for the quarter was 19.8 %.

US GAAP Highlights

The highlights of the results under US GAAP are:

1. Revenue was US$ 509.6 mn; up 44.8 % YoY and 12.7 % sequentially.

2. Net Income was $ 101.9 mn; YoY increase of 55.6 % and a sequential increase of 9.4 %.

3. Basic earning per ADS for the quarter was US$ 0.31; increase of 52.2 % YoY and up 9.4 % sequentially.

4. Operating margins (EBIT) was 17.7%.

Other Highlights

1. The parent company ended the quarter with 41,423 associates, an addition of 3,037 associates including 1,889 trainees. The number of associates including the subsidiaries and joint ventures stood at 45,767.

2. Attrition on a trailing twelve months basis fell to 13.9% from 14.9% in Q1 FY08.

3. 8 Global Fortune 500 clients added.