Fraud-hit Satyam has Rs 373 crore bank balance
Fraud-hit Satyam has Rs 373 crore bank balance
Satyam reported a net profit of Rs 4 cr in January and revenues of Rs 681cr.

Mumbai:The fraud-tainted Satyam Computer Services has a bank balance of Rs 373 crore (about $75 million) as on March 31, the IT bellwether said on Tuesday.

In a regulatory statement, Satyam said, it has posted stand alone net profit of Rs 181 crore ($38 million) on revenue of Rs 2,290 crore in December.

The company reported net profit of Rs 4 crore in January and revenues of Rs 681 crore.

In February, its profit soared to Rs 52 crore though revenues dropped to Rs 676 crore, the statement said.

This is the first publicly disclosed earnings estimates from Satyam since the disgraced former chairman Ramalinga Raju confessed inflating the company's balance sheet and assets by Rs 78,000 crore or more than $1 billion.

The company said, it cannot guarantee the accuracy of the results as Satyam's financial figures stretching back to 2000 have yet to be verified by an independent auditor.

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