“The strong performance in FY 07 is a culmination of strategic initiatives taken by the company on several fronts notably in the areas of relationship management, deepening of competencies and associate delight.”

– Ramalinga Raju, Founder & Chairman

“Offshore billing rates were up by 0.7% and onsite rates increased by 0.6% in this quarter. Based on the contract renegotiations that we had in the last year and the rates at which new customers are coming in we are confident that the positive momentum seen in the billing rates in Q4 will continue in FY 08 also.”

–V. Srinivas, CFO

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

Q4 FY07

1. Revenue was Rs.1,779 crore; a YoY increase of 35.4% and a sequential increase of 7.1%.
2. Total income was Rs. 1,850 crore; a YoY increase of 37.8% and a sequential increase of 10.7%.
3. Net Profit after Tax was Rs. 394 crore; a YoY increase of 38.3% and a sequential increase of 16.7%.
4. EPS was Rs. 5.98; a YoY increase of 36.0% and a sequential increase of 16.2%.
5. EBITDA margin for the quarter was 23.1%.

FY 2007

1. Revenue was Rs. 6,485 crore; a growth of 35.3% over fiscal 2006.
2. Total income was Rs. 6,668 crore; a growth of 35.8% over fiscal 2006.
3. Net Profit after Tax was Rs. 1,405 crore; a growth of 43.1% over fiscal 2006.
4. EPS at 21.45 grew by 40.6% over FY 2006.
5. EBITDA for the year was 23.7%; a drop of about 60 bps over fiscal 2006.

Others

1. The parent company ended the quarter with 35,670 associates, an addition of 1,265 associates including 600 trainees for Q4 07. The number of associates including those of subsidiaries and joint ventures stood at 39,552.
2. Attrition on a trailing twelve months basis fell to 15.7% from 17.6% in Q3. Annualized quarterly attrition stood at 13.21% compared to 21.9% at the beginning of FY 2007.
3. 35 new customers added in Q4 including 5 Fortune Global 500 and US 500 companies.
   

The highlights of the results under US GAAP are:

Q4 FY07

1. Software services revenue was US$ 411 mn; up 36.7 % YoY and 9.5% sequentially.
2. Net Income was $ 86 mn; YoY increase of 38.6% and a sequential increase of 21.4%.
3. Basic earning per ADS for the quarter was US$ 0.26; increase of 36.0% YoY and up 20.8% sequentially.
4. Operating margins (EBIT) was 19.7%.

FY 2007

1. Revenue was US$ 1.46 bn; a growth of 33.3%.
2. Net Income was US$ 298 mn; a growth of 39.8%.
3. Basic earning per ADS for fiscal 2007 was US$ 0.91; an increase of 37.4% over fiscal 2006.
4. Operating margins (EBIT) for the year ended at 19.95% compared to 20.04% for fiscal 2006.

Others

1. The parent company ended the quarter with 35,670 associates, an addition of 1,265 associates including 600 trainees for Q4 07. The number of associates including those of subsidiaries and joint ventures stood at 39,552.
2. Attrition on a trailing twelve months basis fell to 15.7% from 17.6% in Q3. Annualized quarterly attrition stood at 13.21% compared to 21.9% at the beginning of FY 2007.
3. 35 new customers were added in Q4 including 5 Fortune Global 500 and US 500 companies.

Forrester Research, an independent technology and market research company, in its Forrester Wave analysis of 13 leading Applications Outsourcing (AO) Providers, across 50 criteria, in the North American market, said:

" Satyam is a leading North American Applications Outsourcing Provider. Satyam’s solution strategy is strong, particularly in its vision for next generation architectures.”

- William Martorelli ,The Forrester Wave™ North American Applications Outsourcing, Q1 2007, March 26, 2007

“Satyam has the largest overall ERP practice and the heaviest commercial focus on packaged enterprise software."

- Dana Stiffler, Research Director, AMR Research, “Indian Service Provider’s ERP Practice Grow up”, January 26, 2007