Mahindra Satyam on Thursday posted better than expected results for the fourth quarter ended March 31, after a one-time gain of R109 crore helped boost profit after tax (PAT) to R534 crore, against a loss of R326.9 crore, a year ago. Sequentially the IT firm reported a 73.38% jump in its profit.
Revenue from operations stood at R1,666 crore in the fourth quarter compared with R1,375 crore, up 21% year-on-year. However, sequentially it fell 3%. “We have fully recovered in the three-year process of journey. Despite the uncertainties in the global market, we have sustained volume growth, improved margins with key client additions,’’ said Vineet Nayar, chairman, Mahindra Satyam.
For the full year, the company recorded profit of R1,297.6 crore against a loss of R143.96 crore during the same period last year. While income from operations for FY12 stood at R6,395.5 crore against R5,145.06 crore a year ago. Earnings per share for FY12 rose to R11.08 compared with a loss per share of R1.25 a year ago.
“There was robust growth in media & entertainment vertical. While manufacturing contributed 32%, BFSI contributed 20% with the retail and emerging verticals contributing to the rest of revenues. About 51% revenues comes from the Americas, 25% from Europe and RoW and APAC region the rest,” said CP Gurnani, CEO, Mahindra Satyam.