At a Glance - Q1 Results FY 07-08 Revenue: Rs.1830 crore, up 2.9% sequentially and 26.8% YoY Net Profit: Rs. 378 crore, a YoY increase of 6.83% and a sequential decrease of 3.88% Added 29 new customers, including 2 US Fortune 500 corporations Added 2716 associates

Satyam announced its audited results for the first quarter ended June 30, 2007 (Q1 2008).
Here’s a summary.

Consolidated Indian GAAP Highlights

• Revenue was Rs.1830 crore; a YoY increase of 26.8% and a sequential increase of 2.9%.
• Volume growth for the quarter was 9.5%.
• Net Profit after Tax was Rs. 378 crore; a YoY increase of 6.83% and a sequential decrease of 3.88%.
• EPS was Rs. 5.67; a YoY increase of 4.20% and a sequential decrease of 5.16%.
• EBITDA margin for the quarter was 22.42%.

• Revenue was US$ 452.3 mn; up 40.3 % YoY and 10% sequentially.
• Net Income was $ 93.1 mn; YoY increase of 23.3% and a sequential increase of 7.9%.
• Basic earning per ADS for the quarter was US$ 0.28; increase of 20.3% YoY and up 6.4% sequentially.
• Operating margins (EBIT) was 19.9%.

• The parent company ended the quarter with 38,386 associates, an addition of 2716 associates including 1298 trainees for Q1 08. The number of associates, including the subsidiaries and joint ventures, stood at 42347.
• Attrition, on a trailing twelve months basis, fell to 14.9% from 15.7% in Q4 FY07.

• For fiscal 2008, under US GAAP, revenue is expected to be between US$1.96 bn and US$1.98 bn, implying a growth rate of 34% to 35.5% over fiscal 2007. Basic earning per ADS for fiscal 2008 is expected to be between US$ 1.17 and US$ 1.19, implying a growth rate of 28.3% to 29.7% over fiscal 2007.
• Corresponding revenue growth under Indian GAAP consolidated is expected to be between 21.1% and 22.5%. EPS for the full year is expected to be between Rs. 24.14 and Rs. 24.46, implying a growth rate of 12.5% to 14.0%.
• For Q2 FY 2008, under US GAAP, revenue is expected to be between US$ 477.2 mn and US$ 479.4 mn, implying a growth rate of 5.5% to 6%. Basic earning per ADS for Q2 08 is expected to be US$ 0.26.
• For Q2 FY 2008, under Indian GAAP consolidated corresponding revenue growth rate is expected to be between 4.7% and 5.2%. EPS for the Quarter is expected to be between Rs. 5.36 and Rs. 5.41.

For Q1 2008, Nipuna posted revenue of US$ 11.93 mn and a net loss of US$ 2.02 mn. The revenue guidance for fiscal 2008 is US$ 61 mn, a growth of 60% over the previous year.

Nipuna has opened its fourth facility in Hyderabad. With this, Nipuna has six facilities across Hyderabad, Bangalore and Chennai. Nipuna now has infrastructure to accommodate approximately 5,000 employees. As of June 30, 2007 Nipuna’s headcount stands at 2994. Nipuna was awarded the “Best Established Indian ITeS Company”by the Hyderabad Software Exporters Association (HYSEA) for FY 2007.

• Ranked as the No. 3 global outsourcing vendor and No. 1 among Indian IT services companies in a survey conducted by Brown–Wilson Group for the Black Book of Outsourcing’Top 50 Best Managed Companies, 2007.
• Partner of the Year 2007 award for Acquired Applications from Oracle
• CA’s Business Service Optimization (BSO) business unit’s VIP (Vision, Impact, Progress) Award in the IMPACT category.
• The first Indian SI to win the prestigious “Competitive Strategy Leadership Award for Offshore Testing Market”from Frost & Sullivan.
• “Citizenship Partner of the Year”award from Microsoft.

• In Q1, Satyam added 29 new customers, including 2 US Fortune 500 corporations.
• Some of the prominent customer additions were: a leading US chemical manufacturer, one of the world’s largest manufacturers of fiberglass & related products, and Australia’s largest transportation company.
• Satyam is working to provide high-end design, computer-aided engineering (CAE), analysis, product lifecycle management, and other services for the world's leading business, special-mission, and trainer aircraft manufacturer. The arrangement will enable the customer fulfill orders more quickly, while maintaining exacting quality standards.
• Satyam provided a directional roadmap and an IT strategy recommendation for a large American bank to globalize their Shared Services Group.
• Satyam led one of India’s largest retail bank’s foray into Internet Banking by successfully rolling out an Internet Banking solution. Currently over 3500 branches are Internet Banking enabled providing a seamless internet front end to a variety of backend banking.
• Satyam bagged a prestigious infrastructure management contract with a global FMCG company for managed data center support services for their Data Centers in US, and Europe. Satyam RightSourcingTM model enabled improved service levels and cost effective delivery model for the client with their existing infrastructure.
  

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