India First Edition

Satyam Q2 Jul-Sep results meets analysts expectations

Satyam today announced its results for the Second quarter ended September 30, 2008. The key highlights of the results are as follows:
Business Outlook
For fiscal 2009, under US GAAP, revenue is expected to be between US$ 2.55 bn and US$ 2.59 bn, implying a growth rate of 19.0% to 21.0% over fiscal 2008.  Basic earning per ADS for fiscal 2009 is expected to be between US$ 1.47 and US$ 1.50, implying a growth rate of 17.6 % to 20.0 % over fiscal 2008.  
 
Corresponding revenue under Indian GAAP consolidated is expected to be between Rs 11,273 crore and Rs 11,475 crore, implying a growth rate of 33.0 % to 35.4 % over fiscal 2008. EPS for the full year is expected to be between Rs. 33.57 to Rs. 34.10, implying a growth rate of 33.0 % to 35.1 %.

For Q3 FY 2009, under US GAAP, revenue is expected to be between US$ 634.0 mn and US$ 652.2 mn. Basic earning per ADS* for the quarter is expected to be between US$ 0.35 and US$ 0.36

For Q3 FY 2009, under Indian GAAP consolidated, corresponding revenue is expected to be between Rs 2,945 crore and Rs 3,034 crore, implying a growth rate of 4.4 % and 7.6 %; EPS for the quarter is expected to be between Rs. 8.39 to 8.65.
* Excluding Fringe Benefit Tax (FBT) on ESOPs

Consolidated Indian GAAP Highlights
The highlights of the results for the quarter under Indian GAAP Consolidated basis are:

Revenue was Rs.2819.29 crore; a YoY increase of 38.8 % and a sequential increase of 7.6 %.
Net Profit after Tax was Rs. 580.9 crore; a YoY increase of 42.0 % and a sequential increase of 6.1 %.
EPS for Q2 2009 was Rs. 8.63; a YoY increase of 41.0 % and a sequential increase of 5.8 %.
EBITDA margin for the quarter was 23.1 %

US GAAP Highlights
The highlights of the results under US GAAP are:

Revenue was US$ 652.2 mn; up 28.0 % YoY and 2.3 % sequentially.  
Net Income was $ 132.3 mn; YoY increase of 29.8 % and a sequential increase of 4.5 %.
Basic earning per ADS for the quarter was US$ 0.39; increase of 25.8 % YoY and up 2.6 % sequentially.
Operating margins (EBIT) for the quarter was 20.33 %.
Others
The parent company ended the quarter with 48,434 Associates, an addition of 1,814 associates including 221 trainees for Q2 09. The number of associates including the subsidiaries and joint ventures stood at 52,865
Attrition on a trailing twelve months basis fell to 12.3 % from 12.6 % in Q1 FY09. Annualised quarterly attrition for the quarter stood at 12.7 %
33 Customers added during the quarter

The detailed highlights of Q2 fiscal 2009 is given in the investor Link attached with this mail. We have also uploaded the same on our Website (www.satyam.com) for your easy access.
The Q2 earnings call is scheduled to be held at 6:30 PM (IST) on October 17, 2008. For further details, refer our website.