Mahindra Satyam Q4 revenue up 21%

Global consulting and IT services provider Mahindra Satyam's revenue for the January-March 2012 fourth quarter rose 21% or US$ 337 million and 3.7% compared to third quarter. For the financial year ended March 31, 2012 (FY11-12), global revenue grew 24% to US$ 1,311 Million compared to a year ago, the company said. Reflecting the growth of the Rest of World (RoW) region (which includes the Asia Pacific, India, Middle East, and Africa), revenue for FY11-12 increased 40% YoY and was 4.8% higher than Q3FY12 (quarter on quarter). The RoW region accounted for 25% of global revenue for FY11-12, up from 20% a year earlier. Mahindra Satyam Middle East, North Africa and Turkey Vice President and Head Bobby Gupta said, "Middle East continues to grow in terms of new order bookings for Mahindra Satyam. During Q4, we achieved highest Order bookings and we see that momentum to continue this year. We are witnessing increase in IT spend in Government, Manufacturing and Health sectors. "Our customers are more demanding who are seeking innovative solutions/ pricing models. Mobility, Business Intelligence, ERP rollouts and our unique solutions in Health sector are some of our differentiators in this region." Mahindra Satyam CEO C P Gurnani said, "While the business world grapples with the looming uncertainties, we have been able to swim against the tide. This reflects our growing ability to straddle the complex task of maintaining the agility of a start up with the experience and maturity of a behemoth. Our customers and partners have endorsed this aspect and continue to invest in our competencies, as we step into our next three year transformation phase." Among key developments in the RoW region in the Q4FY12, the company won new business in emerging markets such as Indonesia, Philippines and Vietnam. The company saw good traction in banking sector of Africa. The company also entered into strategic partnerships in Japan and Korea region. A large Middle East Government organization selected Mahindra Satyam for its Infrastructure managed services – one of the largest IMS deals in Middle East region for the group.