At the end of the second year of its “three year journey” since Indian industrial conglomerate Mahindra & Mahindra took control, the erstwhile Satyam business is still struggling to find its feet. Revenues for the year ended 31st March fell by 6% to Rs51.4b (c.$1.13b) and operating margins (pre-nasty bits) lost nearly a point to 5.3%, the lowest by far in its peer group. Satyam recorded a net loss after settling the US class action suit arising from the Raju scandal (see Last sword hanging over Mahindra Satyam removed).
There was little other detail given, including any news on the proposed integration with sibling Tech Mahindra, originally expected at the end of this year (see Mahindra could delay merger with Satyam). There's more for TechMarketView subscription service clients in UKHotViews Extra.