Mahindra & Mahindra owned company Mahindra Satyam has announced its results for the quarter ended September 2010 today late at 18:00 IST. Company has reported profit after tax (PAT) at Rs.23 crore as against Rs.98 crore, negative growth of 76.53% on quarter-on-quarter basis (QoQ).
Operating profit down 42.98% at Rs.65 crore (low figure) in Q2FY11 from Rs.114 crore in Q1FY11. Income from operations stood at Rs.1,242 crore versus Rs.1,248 crore (QoQ). Company also reported forex loss of Rs 9.1 crore against the gains of Rs.33.6 crore.
Our Analysis: Investors stay away from this stock.