Mahindra Satyam back in the black
Mahindra Satyam reported a net profit of Rs 534 crore for the fourth quarter ended March 31, 2012, driven largely by higher revenues and increased employee efficiency rates. The company had suffered a net loss of Rs 327 crore in the January-March period of 2011. Its consolidated revenues during the quarter grew at 21% to Rs 1,666 crore as compared to Rs 1,375 crore for the same period last fiscal. On the outlook for the current fiscal, company's Chairman Vineet Nayyar said though the global economic situation appears to be bleak at this point of time, the company would try to maintain the current level of growth.