Mahindra Satyam posts profit of Rs 534.21 cr in Q4

IT firm Mahindra Satyam on Thursday reported a net profit of Rs 534.21 crore (Rs 5.34 billion) for the fourth quarter ended March 31, 2012.

The Hyderabad-based company had posted a net loss of Rs 327 crore (Rs 3.27 billion) in the January-March period of 2011.

The company's income from operations during the quarter stood at Rs 1,666 crore (Rs 16.66 billion) as compared to Rs 1,375 crore (Rs 13.75 billion) for thesame period last fiscal.

For the full year ended March 31, 2012, Mahindra Satyam has registered a net profit of Rs 1,306 crore (Rs 13.06 billion) as against a loss of Rs 1,472 crore (Rs 14.72 billion) in 2010-11.

The company's total headcount as on March 31, stood at 33,353, making a net addition of 4,087 year-on

year.

The attrition level improved to 15 per cent in the January-March quarter, 2012 as compared to 22 per cent in the corresponding period last fiscal.

"We continued to make steady progress in our transformation journey.

"Our results in the past three years and the current quarter are a vindication of our growth strategy and fighting spirit of the team Mahindra Satyam despite uncertainties in the global market," Mahindra Satyam chairman Vineet Nayyar said.

"Our team has proved its mettle to sustain volume growth, improve margin , key client addition and creation of innovative platform. . .," he added.