Tech Mahindras turnaround: posts net profit of Rs 230 cr

Tech Mahindra,the new owner of scam-hit Satyam Computer,has come back in to the black in fourth quarter ended March 31,2009 by posting Rs 230 crore net profit.

Tech Mahindra,the new owner of scam-hit Satyam Computer,has come back in to the black in fourth quarter ended March 31,2009 by posting Rs 230 crore net profit. The company had posted a net loss of Rs 221.39 crore in the same period last fiscal ,if exceptional items,including a Rs 440-crore one-time expenditure,are taken into account.

Consolidated total income declined marginally to Rs 1,059.07 crore during the period under review from Rs 1,059.71 crore in the corresponding period in FY08.

The companys revenue rose 2.88 per cent to Rs 1,051.30 crore during the March quarter from Rs 1,021.8 crore in the corresponding period a year-ago.

Donald Trump may replace H-1B lottery with wage-based selection process

World10 hr ago

Days after hiking the fees for new H-1B applications to $100,000, the Donald Trump administration has proposed to overhaul the visa process for high-skilled non-immigrant workers. The Trump administration has suggested a wage-based selection process for the H-1B programme, instead of the current lottery system.

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