Mahindra satyam’s Q2 revenue rises 22.9%

Global consulting and IT services provider Mahindra Satyam Thursday announced its revenue for the July-September second quarter (Q2FY13) rose 22.9% to US $354 Million compared to corresponding quarter for financial year 2012. The Singapore-headquartered Rest of World (‘RoW’) region, which includes the Asia Pacific, India, Middle East and Africa, accounted for 23% of global revenues for the quarter. Mahindra Satyam’s Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 72.6% to US $76 Million equivalent for Q2FY13 while Profit After Tax rose 16.7% to US $51 Million equivalent over the comparative periods. Mahindra Satyam Asia-Pac, India, MENA, Senior Vice President Rohit Gandhi said, “Growth in the RoW region in the latest quarter has been given a fillip through several major deals in North and South East Asia, Australia as well as the Middle East. These sizeable contracts clearly underscore that corporations in the region are committed to organisational transformation through IT services. We are confident that this trend will continue to be healthy in the coming quarters given that these are emerging markets.” The company’s total staff strength was 36,787, a net addition of 791 quarter on quarter. Active clients stood at 363 on a consolidated basis. The merger of Tech Mahindra and Mahindra Satyam, announced on March 21, 2012, is progressing on schedule, the company added.