Continuing the trend set by Tata Consultancy Services and Infosys Technologies of robust growth in revenue and profitability in 2006-07, Wipro Ltd and Satyam Computer Services Ltd posted a 42 per cent and 43 per cent increase, respectively, in net profit to 2,942 crore and Rs 1,405 crores. Revenues of Wipro Ltd crossed the $3 billion (Rs 15,000 crore) mark, while Satyam’s total revenue was $1.46 billion (6,668 crore).
The performance was above market expectations, with Satyam’s stock price rising by over six per cent on Friday. Wipro’s stock also rose, but ended down over one per cent after the company said it expects its revenue in the first quarter of 2007-08 by three per cent.
Satyam chairman B. Ramalinga Raju told reporters on Friday that the company expected a revenue of between $1.87 billion and $1.9 billion in 2007-08, implying a growth rate of 28 to 30 per cent under US GAAP, while the growth under Indian GAAP is expected to be between 20 to 22 per cent because of the rupee’s appreciation.
"Looking ahead, for the quarter ending June 2007, we expect the revenue from our global IT services business to be approximately $711 million," Wipro chairman Azim Hasham Premji said in a statement.
The board of Wipro recommended a dividend of Rs 1 per share, taking the total dividend for 2006-07 to 300 per cent or Rs six per share.
While Wipro’s Q4 net profit was Rs 858 crore on revenues of Rs 4,333 crore, Satyam posted a net profit of Rs 394 crore on revenues of Rs 1,850 crore.
Mr Raju said Satyam ended the quarter with 35,670 associates, an addition of 1,265 associates including 600 trainees for Q4 07. The number of associates including those of subsidiaries and joint ventures stood at 39,552. "Attrition on a trailing twelve months basis fell to 15.7 per cent from 17.6 per cent in Q3. Annualised quarterly attrition stood at 13.21 per cent compared to 21.9 per cent at the beginning of FY 2007," a Satyam release said.
It added 35 new customers added in Q4 including 5 Fortune Global 500 and US 500 companies.
Courtesy : Asianage.com
The performance was above market expectations, with Satyam’s stock price rising by over six per cent on Friday. Wipro’s stock also rose, but ended down over one per cent after the company said it expects its revenue in the first quarter of 2007-08 by three per cent.
Satyam chairman B. Ramalinga Raju told reporters on Friday that the company expected a revenue of between $1.87 billion and $1.9 billion in 2007-08, implying a growth rate of 28 to 30 per cent under US GAAP, while the growth under Indian GAAP is expected to be between 20 to 22 per cent because of the rupee’s appreciation.
"Looking ahead, for the quarter ending June 2007, we expect the revenue from our global IT services business to be approximately $711 million," Wipro chairman Azim Hasham Premji said in a statement.
The board of Wipro recommended a dividend of Rs 1 per share, taking the total dividend for 2006-07 to 300 per cent or Rs six per share.
While Wipro’s Q4 net profit was Rs 858 crore on revenues of Rs 4,333 crore, Satyam posted a net profit of Rs 394 crore on revenues of Rs 1,850 crore.
Mr Raju said Satyam ended the quarter with 35,670 associates, an addition of 1,265 associates including 600 trainees for Q4 07. The number of associates including those of subsidiaries and joint ventures stood at 39,552. "Attrition on a trailing twelve months basis fell to 15.7 per cent from 17.6 per cent in Q3. Annualised quarterly attrition stood at 13.21 per cent compared to 21.9 per cent at the beginning of FY 2007," a Satyam release said.
It added 35 new customers added in Q4 including 5 Fortune Global 500 and US 500 companies.
Courtesy : Asianage.com