Mahindra Satyam gets IT contract from IRDA

IT firm Mahindra Satyam said it received an order from Insurance Regulatory and Development Authority (IRDA) to implement software solution to manage accounts and payroll related services. No financial details were provided.

The company will implement business software which will help IRDA to cut cost and help to manage payrolls, self-service portals, accounts and provide post implementation support, Mahindra Satyam (earlier known as Satyam Computers) said in a filing to the Bombay Stock Exchange (BSE).

On Thursday, Mahindra Satyam declined 2.7% to Rs86 on the BSE, while the benchmark Sensex closed 1.4% down at 20,589 points.

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Mindteck Q2 net profit at Rs3.28 crore vs Rs52 lakh last year

Mindteck (India) Ltd said that its consolidated net profit for the September quarter rose to Rs3.28 crore from to Rs52 lakh previous year.

During the September quarter, its revenues increased to Rs68.81 crore from Rs55.96 crore.

The company registered operating profit (EBITDA) of Rs4.76 crore compared to Rs1.78 crore in the corresponding period last year.

Pankaj Agarwal, managing director, Mindtrek, said, "Our renewed focus on select key industry verticals has resulted in significant successes. The momentum continues as we see progressively more growth and stability."    

On Thursday, Mindteck ended 5% up at Rs44 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.4% down at 20,589 points.
 

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Eros Q2 net profit up 12.9% to Rs45.33 crore

Eros International Media Ltd said its net profit for the September quarter increased 12.9% to Rs45.33 crore from Rs40.16 crore last year despite lower revenues.
During the quarter to end-September, the media and entertainment company said its total revenues declined to Rs187.9 crore from Rs271.8 crore.

"The second half has already started brilliantly with the huge box office success of Golmaal 3 to be followed by No Problem, Toonpur Ka Superhero and Game.

For the second half of FY11, FY2012 and 2013, the company has an unparalleled line-up of more than 50 films in Hindi, Tamil and other languages, which is by far the largest visibility in terms of number of films," Eros said in a release.

On Thursday, Eros International ended 1.8% down at Rs194 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.4% down at 20,589 points.

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