The net profit of Mahindra Satyam zoomed to Rs.308 crore during the third quarter ended December 31, 2011, from Rs.58.91 crore in the comparable period in the previous year.
The company's consolidated revenue stood at Rs.1,718 crore, up 9 per cent over Rs.1,757.77 crore of the previous quarter and 34 per cent higher than Rs.1,235.21 crore recorded in the third quarter of the previous year.
Total headcount was 32,280 with an addition of 188 during the quarter.
The attrition levels, according to Mahindra Satyam chairman Vineet Nayyar, was stable at 16 per cent as compared to 25 per cent in the year-ago period.
Mr. Nayyar, who along with CEO C. P. Gurnani announced the third quarter results on Wednesday, said the company was getting closer to normality and the focus during the next phase would be on the growth trajectory, for reconstruction, to simulate the best.
“Our endeavour of building the organisation and improving the operating matrix continues in the face of some headwinds on the economic front,” he said.
Mr. Gurnani said following the transformation plan laid out three years ago, the company was moving in the right direction and it would take two more quarters for it to totally stabilise.
The progress in terms of volumes was almost flattish, registering a marginal 0.3 per cent de-growth and the company was conscious of not creating inventory which it could not handle. The growth during the quarter was led by the BFSI (banking, financial services, insurance) segment constituting 15 per cent and Mahindra Satyam was hopeful that investments in new areas such as mobility, cloud and security solutions would help the company accelerate its growth.
Answering a question, they said the merger of Mahindra Satyam with Tech Mahindra was expected to be completed by October this year.
