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Journalism of Courage
Satyam net spurts
MUMBAI: Satyam Computer Services Ltd has reported a 137 per cent jump in net profit for first quarter ended June 1998 to Rs 15.28 crore as against Rs 6.43 crore during the corresponding period last year. During the period the company8217;s revenue went up to Rs 78.78 crore from Rs 29.54 crore during the first quarter of last year, showing an increase of 167 per cent. The company8217;s earnings per share on an annualised basis stood at Rs 23.50 as against Rs 9.90 during the corresponding previous quarter. During the period, business from North America accounted for 79.7 per cent of the total turnover and the share of business from Y2K projects was 29.9 per cent of the turnover. Offshore business contributed over 75 per cent of the total turnover while the rest came from onsite development.
Pentafour
MUMBAI: Pentafour Software amp; Exports Ltd has reported a 47.2 per cent jump in net profit for the first quarter ended June 1998 to Rs 21.11 crore Rs 14.34 crore. Turnover during theperiod went up by 67.62 per cent to Rs 95.78 crore Rs 57.14 crore. According to a press statement issued by the company, its order book is at 73.5 million for multimedia projects and at 71.5 million for general software all of which will be executed in 20 months.
Bharti Telecom
MUMBAI: The appellate authority in the finance ministry has rejected C Sivasankaran-controlled Sterling Horticulture and Research Ltd8217;s SHRL appeal against Sebi8217;s order which had directed the company to make an open offer to shareholders of Bharti Telecom Ltd.
Meanwhile, Bharti Enterprises and Bharti Global have already taken their stake in Bharti Telecom to 89 per cent.
