Mahindra Satyam net profit at Rs 225 cr

IT firm Mahindra Satyam on Tuesday posted a consolidated net profit of Rs 225.2 crore for the quarter ended June 30, 2011.

"Our results, this quarter, demonstrate our progression to the growth phase of our three-year transformation journey. Our relentless focus on market growth and margin expansion has yielded satisfactory results for yet another quarter," Mahindra Satyam Chairman Vineet Nayyar said in a statement.

Consolidated revenues stood at Rs 1,433.9 crore during the April-June quarter, up 14.9 per cent year-on-year.

During the quarter, the company added 2,172 people (net), taking total headcount to 31,438 as of June 30, 2011.

Attrition rate increased to 17 per cent from 22 per cent in Q4 FY'11, it said.

On the demand environment, Nayyar said, "We are reasonably confident that we would capitalise on this momentum. However, turbulent macro-economic conditions can pose challenges to the business environment for the outsourcing industry".

Shares of Mahindra Satyam today closed at Rs 71.10 on BSE, down 4.31 per cent from the previous close.