Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: TDS :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Satyam Oct-Dec net profit
June, 09th 2009

The scam hit Satyam Computer Services lost around 9,447 employees from January 2008 to February 2009, according to a disclosure made by the firm to the stock exchanges. After these exits, the firm has 41,622 employees on its rolls now.

Tech Mahindra, the new owner of Satyam, however, reckons that the Hyderabad based outsourcer still has an excess staff of around 10,000. The company could target employees who do not bring in revenues to the firm to cut costs, according to reports.

Nearly 1,600 people quit the firm in February 2009, a month after the defamed founder B Ramalinga Raju confessed to perpetrating a Rs 7,000 crore financial fraud early January. More people quit the company after September last year. The numbers ranged between 750 in September 2008 to 924 in December 2008.

The company has reported an attrition of 13.99% up to the quarter of December 2008, 2.53% in January 2009 and 3.64% in February 2009. Finances have been under pressure due to client exits. The company has disclosed its employee count to shareholders ahead of the open offer.

On Tuesday, Satyam Computer Services reported a stand-alone net profit of Rs 181 crore on revenue of Rs 2,294 crore in the quarter to December, the scam hit company said in a filing to the stock exchange.

The company said it had total bank balances of Rs 373 crore as at March 31. The employee count stood at 41,622, the statement to the stock exchanges said.

It posted a profit of Rs 4 crore on revenue of Rs 681 crore in January and net profit of Rs 52 crore in February on revenues of Rs 637 crore.

Satyam plunged into crisis after its founder B Ramalinga Raju confessed to perpetrating a Rs 7,000 crore financial fraud in early January. The companys accounts are being re-stated.

Tech Mahindra won an auction in April for a controlling stake in Satyam. It has acquired 26% stake through a preferential offer and will make an open offer to acquire an additional 31% stake. The company has disclosed its financial results and employee count in the disclosure made to shareholders.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions