Satyam Back To Track With Rs 1,000 Cr On Salaries
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Satyam back to track with Rs 1,000 cr on salaries

Financial Advisor

Scam-hit Satyam Computer today said it has spent over Rs 1,000 crore onpaying salaries to its employees in the first three months of this year.

According to the cash outlays information of the company for the first threemonths of this year, Satyam spent a total of Rs 1,026 crore on paying salariesand another Rs 342.72 crore in other employee-related segments.

The company made a cash outlay of Rs 91.17 crore on medical insurance foremployees and Rs 251.55 crore on statutory compliance, the company said in thefiling to the stock exchanges.

Overall, the company's total operating cash outlays stood at Rs 1,836 crore atthe 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 of3,828 associates.

Further, the non-operating cash outlays by the company in the three monthsperiod include — capital expenditures (Rs 52.54 crore), marked to market losseson account of foreign exchange contracts (Rs 147.81 crore) and repayment ofloans (Rs 103.86 crore).

It also includes — deposits and margin money for bank guarantees and other nonoperative expenses, it added. For the quarter ended December 2008, Satyamreported a consolidated net profit of Rs 160.50 crore and the total incomestood at Rs 2,327.21 crore.

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