HYDERABAD: Satyam Computer Services has registered revenues of Rs. 1,443 crore during the first quarter of the current financial year ended June 30, 2006, against Rs. 1,058.70 crore in the corresponding period in the previous year, registering a rise of 36.3 per cent. The net profit has shot up by 86.2 per cent to Rs. 354.12 crore from Rs. 193.11 crore.

Buoyed by the impressive results, the company has revised its revenue guidance upwards and it is expected to be in the range of Rs. 6,190-6,290 crore against the Rs. 6,000-6,100 crore projected earlier.

The guidance for earnings per share, which stood at Rs. 10.87 showing a sequential increase of 23.66 per cent over the previous quarter, has also been revised to Rs. 38.90-39.50 from Rs. 36-36.60.

Announcing the results at a press conference here on Friday, the Chairman of the company, B. Ramalinga Raju, and others said that the company had decided to increase its headcount by 10,000-12,000 during the year and it had significant plans for expanding operations by setting up new development centres.

With the concept of near shore development centres gaining momentum, the company is in the process of providing more balanced delivery systems to customers while it is moving to start operations from Tier II cities like Visakhapatnam.

The company achieved a high level offshore business in excess of 47 per cent and the company was looking at new geographies like South America to expand its operations.

The situation with the subsidiaries was comfortable and since several of them were in the investment stage, their impact on the revenues in the quarter was neutral.

© Copyright 2000 - 2009 The Hindu