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Mahindra Satyam profits rise 5% in Q2

By B Krishna Mohan Nov 10 2011 , Hyderabad

Riding on volume growth, IT services company Satyam Computer Services, now branded as Mahindra

Satyam, reported a 5.79 per cent increase in its net profit to Rs 238.24 crore for the quarter ended September 30, 2011 compared to Rs 225.18 crore in the previous quarter.

The figures are not comparable with Rs 23.31 crore during the corresponding period last year as the company was reeling under the impact of the financial scam it suffered in January 2009.

Revenues for the quarter were Rs 1,577.71 crore for the quarter, up 10.02 per cent compared to Rs 1,433.93 in the June ended quarter. Mahindra Satyam chairman Vineet Nayyar said the company has been on the growth path for the fifth consecutive quarter while recovering from the effects of the financial scam.

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