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Regular-article-logo Saturday, 10 May 2025

BIG JUMP IN SATYAM TURNOVER 

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OUR BUREAUX Published 11.01.00, 12:00 AM
Jan 11 :     Satyam Infoway (Sify), which got listed on the Nasdaq last year, has reported a turnover of Rs 18.06 crore in the third quarter of the current fiscal compared with Rs 2.19 crore in the previous year. Sify also said its subscriber base had risen to 1.18 lakh in the nine months ended December 31, 1999. Sify parent Satyam Computers Services has recorded a revenue of Rs 177.88 crore during the period, an increase of 62.33 per cent compared with the corresponding period of the previous year. Net profit during the period rose 75.45 per cent to Rs 36.19 crore. A Satyam release said internet and and e-commerce has become the bulk income earner, displacing earnings from the Y-2K business which now makes up less than one per cent of the total revenue. The share of e-commerce in total revenue has climbed to 21.3 percent, while engineering services make up 13 per cent, enterprise resource planning (ERP) 12 per cent and telecom projects 11.8 per cent of the total revenue. The board of Polaris Software Lab Ltd today decided to go in for a 2-for-1 stock split of its equity shares: a sub-division of every equity share from the current par value of Rs 10 into 2 equity shares of par value of Rs 5 each. The stock split will increase the company's liquidity position and expand its investor base. The company reported a net profit of Rs 8.77 crore in the third quarter compared with Rs 3.96 crore in the corresponding quarter of the previous year. Sonata Software reported income of about Rs 42 crore in the third quarter, an increase of 47 per cent over the previous corresponding period. Profit during the period stood at Rs 6.2 crore.    
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