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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018
 Last-minute tax tips for late filers
 What demonetisation did to tax collections

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 2018 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