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Satyam Computer Services hopes that Satyam BPO formally known as Nipuna will be out of the red and begin to make profits in the next two years.The scope for the BPO business is quite huge. We the industry have just touched the tip of it. The arm has registered revenues of Rs 55.62 crore, showing a growth of 15 per cent, in the second quarter. This has helped us cut losses to Rs 20 crore even after absorbing forex losses, V. Srinivas, Chief Financial Officer of Satyam, said.
Stating that the arm would start making profits in the next two years, he told Business Line that the animation project would come back to the company. ââ,¬Å"It was stopped as the work on shooting of the movie stopped. It will soon resume and we expect it to be shown in the books in the next two quarters, he added.
He, however, pointed out that it was just one aspect of the business. Besides, the voice business contributed just 25 per cent to the revenues. The highend transaction process business gave us 75 per cent. On currency hedging policy, he said the company had decided to stick to the 50 50 hedging strategy. It is not a money earning mechanism. We gain or lose equally, giving us the minimal shocks, he said.
For now, the company didnt foresee any pricing pressure. In fact, it saw opportunities as companies got consolidated in the financial sector. The chairman and founder of the company, B Ramalinga Raju said that the company believes in operational efficiency, a comprehensive services portfolio and an ability to provide true transformation.
These traits helped it for its positive growth. He said that the financial environment of the world would remain tight with the collapsing of the US banking and financial services sector.
However, the present crisis also brings a good scope for transformation. Satayam maintains a cash reserve of Rs 4,000 crore and may carry out acquisitions and mergers in coming days.
The CFO of company, V Srinivas said that company is working on planes to reduce companyââ,¬â"¢s dependence on North American market.
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