Satyam Computer Services Ltd has announced the following results for the quarter ended June 30, 2005:
The audited results for the quarter ended June 30, 2005
The company has posted a profit after taxation of Rs 206 crore (Rs 2.06 billion) for the quarter ended June 30, 2005 as compared to Rs 173 crore (Rs 1.73 billion) for the quarter ended June 30, 2004. Total income has increased from Rs 802 crore (Rs 8.02 billion) in Q1-05 to Rs 1058 crore (Rs 10.58 billion) for the quarter ended June 30, 2005.
The unaudited consolidated results as per India GAAP are as follows:
Profit after taxation and share of loss in associate company is (Rs 190 crore ) Rs 1.90 billion for the quarter ended June 30, 2005 as compared to Rs 163 crores (Rs 1.63 billion) for the quarter ended June 30, 2004. Total income has increased from Rs 812 crore (Rs 8.12 billion) in Q1-05 to Rs 1082 crore (Rs 10.82 billion) for the quarter ended June 30, 2005.
The unaudited consolidated results as per US GAAP are as follows:
Net income is $ 42.287 million for the quarter ended June 30, 2005 as compared to $ 36.434 million for the quarter ended June 30, 2004. Total revenue has increased from $174.994 million in Q1-05 to $246.043 million for the quarter ended June 30, 2005.
The board of directors has approved the proposed acquisition of Knowledge Dynamics Pte Ltd, (Knowledge Dynamics) a data warehousing and business intelligence solutions provider based out of Singapore. The maximum purchase consideration will be Singapore $ 9.20 mn. (equivalent to US$ 5.60 mn) in an all cash transaction and has been structured into three parts - initial, deferred and earn-out payments. The transaction is expected to be consummated in August, 2005 and upon consummation Knowledge Dynamics will become wholly owned subsidiary of the company.
Further the company has informed that the board of directors has in-principle approved to co-opt M Rammohan Rao, Dean, Indian School of Business, Hyderabad as an independent director post Annual General Meeting of the company to be held on July 22, 2005.