Mahindra Satyam to announce much-awaited results
While the investors and employees at Mahindra Satyam must be keeping their fingers crossed as Mahindra Satyam will reveal its results after a long gap of two years, it is expected that the audited numbers of the company will give a clear picture about the health of the company.
It is to be mentioned here that after the ex-founder of Satyam, B Ramalinga Raju accepted the multi-crore fraud made by him in the accounts of the IT major, the company didn't come up with audited results. The last quarter when the company announced its results was at the end of the July-September 2008 quarter.
However, a host of market watchers are echoing the fact that the results may not be very encouraging for the investors. It is expected that the company will also make clear the roadmap of the merger of the company with Tech Mahindra.
For the record, before the company got involved in the scam, it employed close to 53,000 employees but it now has only 30,000 employees and keeping in mind the fact that as close to 60% cost is from manpower in the revenues, the benefit was nevertheless nullified after its top line was hit.