rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Satyam Jan-Mar salary cost at Rs 10 billion

Satyam Jan-Mar salary cost at Rs 10 billion

June 09, 2009 16:30 IST

Scam-hit Satyam Computer on Tuesday said it has spent over Rs 1,000 crore (Rs 10 billion) on paying salaries to its employees in the first three months of this year.

According to the cash outlays information of the company for the first three months of this year, Satyam spent a total of Rs 1,026 crore (Rs 10.26 billion) on paying salaries and another Rs 342.72 crore (Rs 3.427 billion) in other employee-related segments.

The company made a cash outlay of Rs 91.17 crore (Rs 911.7 million) on medical insurance for employees and Rs 251.55 crore (Rs 2.515 billion) on statutory compliance, the company said in the filing to the stock exchanges.

Overall, the company's total operating cash outlays stood at Rs 1,836 crore (Rs 18.36 billion) at the end of March this year. The other expenditures of the company include -- subcontractors, rent and utilities, travel and forex and other operating expenses.

At the end of March this year, the company's total headcount stood at 41,622, while its key subsidiaries, including Satyam BPO, had an employee strength of 3,828 associates.

Further, the non-operating cash outlays by the company in the three months period include -- capital expenditures (Rs 52.54 crore), marked to market losses on account of foreign exchange contracts (Rs 147.81 crore) and repayment of loans (Rs 103.86 crore).

It also includes -- deposits and margin money for bank guarantees and other non operative expenses, it added.

For the quarter ended December 2008, Satyam reported a consolidated net profit of Rs 160.50 crore (Rs 1.605 billion)and the total income stood at Rs 2,327.21 crore (Rs 23.272 billion).

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.