Mahindra Satyam Q3 net up 424 pc YoY
Continued focus on operational efficiencies is paying off for Mahindra Satyam as the company’s Q3 consolidated revenue grew 9% QoQ to Rs 1,718 crore
Mahindra Satyam, a leading global consulting, IT and business services provider, has reported a net profit of Rs 308 crore in the third quarter ended December 31, 2011, as against Rs 238 crore in Q2, a growth of 29 per cent QoQ and 424 per cent YoY.
Consolidated revenue for Q3 stood at Rs 1,718 crore, up 9 per cent QoQ and up 34 per cent YoY. EBITDA was reported at Rs 278 crore, up 15 per cent QoQ.
Commenting on the Q3 results, CP Gurnani, CEO, Mahindra Satyam, said, “Our three-pronged approach to the market through vertical, regional and service-line penetration, coupled with effective portfolio management focus, is showing consistent results in this changing environment. Investments into emerging areas such as Mobility, Cloud and Security Solutions should help us accelerate, as we complete the initial three-year transformation journey.”
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