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Satyam Computer Services reports impressive results

Satyam Computer Services is one of the leading global consulting and IT services provider in the Indian IT market. The company has just come out with their revenue reports for the last financial year.

The company has crossed $1 billion turnover as they achieved Rs. 4,793 crore in revenue from software services during 2005-06. This made them one of the fastest companies in India to reach this milestone.

Satyam’s net profit increased to Rs. 981.9 crores, which is a 38 per cent year-on-year increase. The total revenue figures were at Rs. 5,012 crores and the overall profit figures were at Rs. 1,239.75 crore.

Satyam Computer Services is currently sitting on cash reserves of in excess of Rs. 4,200 crores and they have announced a dividend of 250 per cent in addition to an interim dividend of 100 per cent announced earlier. They have also issued a bonus issue in the ratio of 1:1.

Satyam founder chairperson, B. Ramalinga Raju added that they plan to add on 10,000 to 12,000 employees during the current year with the capital expenditure pegged at $75 million.