Mahindra Satyam Q2 meets expectations, net down 21%

Software services exporter Mahindra Satyam  's consolidated net profit fell 21 percent quarter-on-quarter to Rs 278 crore - in-line with expectations - in the quarter ended September 2012.

Consolidated net income from operations rose 3 percent to Rs 1,938 crore - that too met street forecast - from Rs 1,879.8 crore during the same period.

Analysts on an average had expected net profit of Rs 267 crore on income from operations of Rs 1,912 crore for the quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) increased marginally QoQ to Rs 417 crore from Rs 408 crore.

EBITDA margin fell by 20 basis points QoQ to 21.5 percent during the same quarter.

Dollar revenue went up 3.5 percent to USD 354 million from USD 342 million.

The share rose 0.42 percent to close at Rs 107.55 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd