Mahindra Satyam, leading global consulting and IT services provider, is planning for acquisitions in the European Union and Australia in the areas of engineering services, manufacturing and healthcare verticals, as it is sitting on a cash pile of Rs 3,311 crore.
The company took this decision, as in the last quarter, US has contributed 53% of Rs 1,940 crore revenues of the company as against Rs 1,718 crore in the same quarter last year. This was followed by the EU with 24% and the rest of the world 23 per cent. The company added 169 staff in the quarter to take the total to 37,000.
The company has reported 82.71% fall in its net profit at Rs 50.89 crore for the quarter as compared to Rs 294.32 crore for the same quarter in the previous year. However, total income of the company has increased by 7.91% at Rs 1889.97 crore for quarter under review as compared to Rs 1751.37 crore for the quarter ended December 31, 2011.
| Company Name | CMP |
|---|---|
| TCS | 2546.30 |
| Infosys | 1310.60 |
| HCL Tech. | 1453.85 |
| Wipro | 207.85 |
| Tech Mahindra | 1461.70 |
| View more.. | |
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