Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket1 hour ago
The company, which is set to merge with its parent Tech Mahindra, said net profit rose to 2.78 billion rupees ($51 million) for the three months to September 30, from 2.38 billion rupees in the same period last year.
Analysts had forecast a profit of 2.70 billion rupees for the Hyderabad-based firm for the financial second quarter.
Revenue rose 23 percent to 19.38 billion rupees in the quarter.
“With investments in new infrastructure and focus on strengthening partnerships, Mahindra Satyam is firing on all engines,” said chief executive C.P. Gurnani in a statement to the Bombay Stock Exchange.
Satyam stunned corporate India in 2009 when its founder B. Ramalinga Raju admitted he had for years overstated profits and inflated the company’s balance sheet by more than one billion dollars.
It was India’s biggest ever corporate fraud and nearly pushed the group into bankruptcy. Raju, who was once a star of India’s software boom, is now on bail facing charges of conspiracy, cheating and forgery.
Tech Mahindra, a unit of Indian vehicle and farm equipment manufacturer Mahindra and Mahindra, bought a 42.7-percent stake in Satyam Computer after the scandal broke.
The company has since operated under the name Mahindra Satyam.
In March Tech Mahindra announced plans for a merger with Satyam to create a new IT force with annual revenue of $2.26 billion.
Most of India’s IT outsourcing firms see the outlook as difficult because of uncertainty in their key US and European markets.
Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket1 hour ago
Saudi Arabia has begun to explore extracting lithium from sea water
business2 hours ago
Speaking after meeting Lebanese leaders, French foreign minister says there had been "a lot of progress" over the French proposals
mena2 hours ago
The three-shot winner from Japan says he is aiming to become a member of the PGA Tour in the future
sports2 hours ago
Big-hitting Nienaber falters at the finish to settle for secondwhile former Abu Dhabi resident David Horsey takes the third spot at Saadiyat Beach Golf Club
sports2 hours ago
The UAE is India's second-largest export destination after the US
economy2 hours ago
Islamabad is seeking a larger long-term agreement with the fund after a current $3 billion standby arrangement expires this month
economy3 hours ago
Prior to halting operations, WCK had distributed more than 43 million meals in Gaza since October
world3 hours ago