Mahindra Satyam's Q2 PAT rises 5.7 per cent quarter-on-quarter to Rs238 crore

Mahindra Satyam today reported an after-tax profit of Rs238 crore for the fiscal second quarter ended 30 September 2011, up 5.7 per cent from the Rs223 crore PAT recorded in the first quarter of this fiscal.

The company had reported a profit of Rs23.31 crore in the second quarter of the previous year, after showing a decline of 76 per cent over the previous quarter.

Mahindra Satyam, which inherited huge accumulated losses because of years of fraud perpetuated by the erstwhile management, reported a 10-per cent growth in Q2FY12 revenue at Rs1,578 crore, quarter-on-quarter.

Second quarter consolidated revenue under Indian GAAP was $330 million, up 3.2 per cent quarter-over-quarter, EBITDA at $50.6 million against $47.4 million in the first quarter of the current fiscal. Profit after tax , however, was marginally lower at $49.9 million during the September 2011 quarter against $50.3 million in the first quarter of the 2011-12 fiscal, the company said in a release.

EBITDA expanded by 13.7 per cent to Rs242 crore while margins were up 49 basis points quarter-over-quarter to 15.3 per cent. Earnings per share rose to Rs2.02 during the second quarter of FY12 from Rs1.91 in Q1FY12

During the September 2011 quarter, Mahindra Satyam had 32,092 employees, a net addition of 654 from the previous quarter. Attrition rate down significantly at 15.6 per cent in Q2FY12.