Satyam posts December qtr net at Rs 181 cr

Satyam Computer Services, in a filing to the Bombay Stock Exchange, reported its net profit (standalone) at Rs 181 crore for the quarter ended December 31, 2008. The company’s revenue was Rs 2,294 crore.

The company also stated that it had cash balance of Rs 373 crore  as on March 31, 2009.

The company also disclosed its number for the month of January and February 2009. These details were provided by the company to all the select bidders, including Tech Mahindra, to facilitate price discovery as the publicly available information about the company was tainted, said the company in the statement to the Bombay Stock Exchange.

The company also stated in its statement that, “the information has not been audited. There can be no assurance that any such information is accurate, and the actual results may be materially higher or lower than projected.”

Satyam, had not reported results since its Chairman Ramalinga Raju committed of accounting frauds in January this year.

For the month ended January 31, 2009, the company reported net profit of Rs 4 crore and revenue of Rs 681 crore. The company had a loss of Rs 34 crore in other income. The operating margins of the company was 8.96 per cent.

Net profit for the month of February 28, 2009 was Rs 52 crore and revenue was Rs 676 crore.

For the months of January February and March 2009, the company reported total cash balance of Rs 925 crore. It had collections worth Rs 2,064.

The company also reported on the loan information for the three months. The company has taken loans from Citibank, IDBI Bank, Bank of Baroda, HDFC Bank. The company had raised total loan of Rs 569 crore of which Rs 100 crore has been repaid to Citibank. The rest, Rs 469 is the balance outstanding.

Besides, Satyam has also taken corporate guarantee for Satyam BPO from BNP Paribas.

Satyam has foreign exchange hedges (Forward/options) worth $164 million as of March 31, 2009. The estimated mark-to-market losses will be Rs 110 crore. MTM losses paid out in January to March 2009 is Rs 148 crore.