Mahindra Satyam, formerly Satyam Computer Services Ltd., Swung to profit for the fourth-quarter, both on consolidated and stand-alone basis, on Indian GAAP basis, on higher income.
Consolidated Results
The Hyderabad-based company reported a fourth-quarter consolidated net profit, after exceptional items and minority interest, of Rs.534.21 crore or Rs.4.53 per share. In the preceding quarter, the company reported a net loss of Rs.326.98 crore or Rs.2.78 per share.
Consolidated results for the quarter included a one-time gain of Rs.109.40 crore, compared with a charge of Rs.571.50 crore under exceptional items, towards expenses related to provision for contingencies relating to various disputed matter less provision reversal for impairment losses in subsidiaries.
Excluding tax, minority interest and exceptional items, net profit for the quarter was Rs.320.16 crore, up by 37 percent from the Rs.234.05 crore in the year-ago quarter.
Quarterly net income from operation amounted to Rs.1,665.84 crore, up by 21 percent from the Rs.1,375.30 crore in the corresponding quarter of the preceding year. Income from others touched Rs.72.67 crore, compared with Rs.101 crore in Q4FY11.
Income for the quarter from 'Information Technology Services' segment totaled Rs.1,634.89 crore, compared with Rs.1,347.58 crore last year, an increase of 21 percent, while that from 'BPO' stood at Rs.41.29 crore, up by 27 percent from the Rs.32.54 crore a year-ago.
For the fiscal year, the company posted a net profit of Rs.1,306.06 crore, compared with a net loss of Rs.147.23 crore in 2011. Total income, including other income, fell by 28 percent to Rs.6,814.46 crore from the Rs.5,432.96 crore a year-ago.
Excluding tax and exceptional items, profit for the year totaled Rs.1,273.37 crore, up by 129 percent from the Rs.554.98 crore last year.
Stand-alone Results
For the quarter ended March 31, Mahindra Satyam reported that its stand-alone net profit, after making allowance for "exceptional items," was Rs.446.69 crore or Rs.3.76 per share, compared with a net loss of Rs.325.98 crore or Rs.2.77 per share in the year-ago quarter.
Excluding tax and exceptional items, net profit for the quarter stood at Rs.278.38 crore, up by 20 percent from the Rs.234.02 crore in Q4FY11.
Net income from operations for the quarter rose by 21 percent to Rs.1,550.54 crore from the Rs.1,277.75 crore for the same period last year, while it reported other income of Rs.45.34 crore, compared with Rs.98.32 crore last year.
For the fiscal year, the company posted a stand-alone net profit of Rs.1,202.80 crore, compared with a net loss of Rs.127.61 crore last year.
Excluding tax and exceptional items, profit for the year rose more than two-fold to Rs.1,204.89 crore from the Rs.567.16 crore last year.
At the BSE, Satyam Computers closed Thursday's trading at Rs.66.80, down Rs.2.50 or 3.61 percent on a volume of 602,000 shares.
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