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Satyam: Disappointing performance

Jan 23, 2003

Satyam has posted a 5% sequential growth in revenues for 3QFY03. However, the bottomline numbers are disappointing. The company has posted a 1% QoQ decline in net profits. The net profit figure is low due to two reasons. Firstly, the operating margins as seen for others in the sector have declined. Also, Satyam's other income has been completely wiped out.

(Rs m) 2QFY03 3QFY03 Change 9mFY02 9mFY03 Change
Sales 4,991 5,223 4.6% 12,743 14,852 16.6%
Other Income 59 (8) -112.9% 463 128 -72.3%
Expenditure 3,433 3,628 5.7% 8,332 10,266 23.2%
Operating Profit (EBDIT) 1,559 1,594 2.3% 4,411 4,586 4.0%
Operating Profit Margin (%) 31.2% 30.5%   34.6% 30.9%  
Interest 2 2 0.5% 93 5 -94.3%
Depreciation 311 304 -2.2% 829 930 12.2%
Profit before Tax 1,305 1,280 -1.9% 3,952 3,779 -4.4%
Extraordinary income/(expense) - -        
Tax 123 113 -8.1% 202 345 71.0%
Profit after Tax/(Loss) 1,182 1,167 -1.2% 3,750 3,433 -8.4%
Net profit margin (%) 23.7% 22.4%   29.4% 23.1%  
Diluted number of shares 314.5 314.5   314.5 314.5  
Diluted Earnings per share* 15.0 14.8   15.9 14.6  
P/E (x)   17.5     17.9  

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Jul 3, 2013 (Close)

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