Satyam wins six-year contract from Nissan
23 Mar 2006
Satyam Computer Services has won a contract from the North American division of Nissan Motor to maintain, support and enhance the application software portfolio. The value of the six-year order has not been disclosed.
The services to be provided by Satyam would cover business functions like product development, sales and marketing across multiple manufacturing units and locations. Satyam said the contract enhances the company's position as an end-to-end software solutions provider for the auto sector.
Satyam would set up a dedicated support centre for Nissan in Chennai, which would employ up to 350 people. The company said the relationship with Nissan has the potential to develop as one of the top-10 for Satyam in revenue terms.
Satyam had recently won some sub-contracts for a large order from General Motors from principal vendors HP and Cap Gemini. These orders could be worth up to $150 million over a 5-year period.
Satyam has set up a development centre focused on the auto industry in Detroit, the home of US auto industry. The centre would offer automotive engineering solutions, automotive electronics, real time manufacturing, supply chain, automotive enterprise solution and digital manufacturing.
The company had reported a net profit of Rs493.08 crore, or Rs15.28 per share, for the quarter ended December 2005 as compared to Rs250.72 crore, or Rs7.8 per share, for the September 2005 quarter. Total revenues increased to Rs1,518.49 crore from Rs1,148.39 crore for the previous quarter.
Satyam is trading at Rs813.5 (down 0.51 per cent) at 12.55 PM on the NSE today.
