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Mahindra Satyam shares jump about 10 pc on smart Q1 earnings

Mahindra Satyam shares jump about 10 pc on smart Q1 earnings

Shares of Mahindra Satyam soars about 10 per cent following its posting over 56 per cent jump in net profit for the quarter ended June 30.

BT Online Bureau
  • Mumbai,
  • Updated Aug 3, 2012 12:50 PM IST
Mahindra Satyam shares jump about 10 pc on smart Q1 earnings
Riding on the success of impressive Q1 earnings, Mahindra Satyam Shares on Friday soared about 10 per cent. The software service provider posted a 56 per cent increase in net profit at Rs 352 crore for the quarter ended June 30 against Rs 225 crore during the like period of the previous financial year.

Shares of the company opened firm and as the trade progressed it surged 9.8 per cent to a 52-week high of Rs 91.85 on the BSE.

At the NSE, the scrip gained 9.67 per cent to one-year high of Rs 91.85.

On the volume front, 45.44 lakh shares of Mahindra Satyam changed hands on the BSE, while over one crore shares were traded on the NSE.

Similarly, Tech Mahindra rose by 7.31 per cent to Rs 772.7 on the BSE.

The Mahindra group company's revenue stood at Rs 1,880 crore during the quarter under review against Rs 1,434 crore during the year-ago period.

Rupee depreciation contributed around 8 per cent to the revenue growth.

Mahindra Satyam's total headcount stood at 35,996 as of June 30, 2012, with a net addition of 2,643 people during the quarter under review.

The attrition levels of the company too 13.5 per cent in the quarter ended June 30 compared to 17.3 percent in like quarter of the previous year.

"Mahindra Satyam reported strong set of Q1 FY'13 numbers, beating street expectations across the board," Ankita Somani Research Analyst IT & Telecom said.

With PTI inputs

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 3, 2012 12:04 PM IST
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