Tech Mahindra posts Rs.221 crore net profit in Q4April 27th, 2009 - 7:39 pm ICT by IANS
New Delhi, April 27 (IANS) IT services exporter Tech Mahindra, which is taking over the fraud-hit IT giant Satyam Computer Services, Monday reported a net profit of Rs.221.3 crore for the fourth quarter of 2008-09.
The company had reported a loss of Rs.207.07 crore in the corresponding period in 2007-08 after it accounted for one-time expense of Rs.440 crore, an official statement said.
The company has logged a net profit of Rs.986.65 crore in 2008-09 as against Rs.342.11 crore during the year before.
Tech Mahindra, which April 13 won an open bid to acquire 31 percent stake in Satyam for Rs.1,757 crore ($351.4 million), last week announced its open offer for a 20-percent additional stake in the IT giant at Rs.58 per share.
The offer to all existing shareholders of the Hyderabad-headquartered Satyam opens June 12 and closes July 1.
- Tech Mahindra wins bid for Satyam Computer - Apr 13, 2009
- Mahindra Satyam quarterly net profit rises 56 percent - Aug 02, 2012
- IT department freezes accounts of Mahindra Satyam - Mar 22, 2011
- Mahindra Satyam posts flat Q1, Q2 revenues (Lead) - Nov 16, 2010
- IT department freezes accounts of Mahindra Satyam (Lead) - Mar 22, 2011
- Mahindra Satyam posts flat revenues in first two quarters - Nov 15, 2010
- Tech Mahindra raises Rs.600 crore to fund Satyam acquisition - Apr 18, 2009
- Satyam suffers net loss of Rs.8,177 crore in fiscal 2009 (Lead) - Sep 29, 2010
- Two-fold jump in Mahindra Satyam's net profit - Aug 10, 2011
- Satyam fraudulent entries by Raju at Rs.6,800 crore - Sep 29, 2010
- Mahindra Satyam net profit at Rs.534 crore - May 17, 2012
- Tech Mahindra, Mahindra Satyam to merge (Lead) - Mar 21, 2012
- Mahindra Satyam reports loss due to lawsuit settlements (Lead) - May 23, 2011
- Tech Mahindra to be Satyam's new owner - Apr 13, 2009
- Tech Mahindra deposits funds for Satyam stake buy - Apr 20, 2009