Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

Satyam has Rs 373 crore bank balance
June, 10th 2009

India's fraud-hit IT giant Satyam Computer Services on Tuesday said it had a bank balance of Rs.373 crore (about $75 million) at the end of March 2009, but at the same time, it also had a Rs.460-crore loan outstanding.

At the beginning of the year, the IT giant's outstanding loan stood at Rs.200 crore. The company later repaid Rs.100 crore before raising Rs.369 crore in fresh loans in the first quarter, Satyam said in a regulatory statement.

"The company's total bank balances as on March 31, 2009, were Rs.373 crore. Out of the sanctioned loan limit, as on March 31, 2009, the company had availed loans worth Rs.469 crore ($93.8 million)," the filing said.

The company registered a profit after tax (PAT) of Rs.181 crore in the quarter ended Dec 31, 2008, the IT bellwether said.

Satyam had earlier furnished the details on a non-disclosure agreement to its bidders.

"Such information was provided to select bidders subject to the execution of a non-disclosure and non-solicitation agreement," the company said.

Satyam's export turnover during the quarter was Rs.2,194 crore, while domestic earnings were reported at Rs.100 crore.

During January, when the gross discrepancies in the balance sheet came into light, the IT exporter reported a minuscule PAT of Rs.5 crore.

In February, its profit soared to Rs.52 crore though revenues dropped to Rs.676 crore, the statement said.

This is the first publicly disclosed earnings estimates from Satyam since the disgraced former chairman Ramalinga Raju confessed inflating the company's balance sheet and assets by Rs.7,800 crore or more than $1.6 billion.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting