The company announced the first quarter results after market hours on Thursday, 2 August 2012.

Meanwhile, the BSE Sensex was down 142.76 points or 0.83% to 17,081.60.

The stock surged on high volumes. On BSE, 15.20 lakh shares were traded in the counter as against average daily volume of 5.44 lakh shares in the past one quarter.

The stock hit a high of Rs 88.35 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 84.85 so far during the day. The stock had hit a 52-week low of Rs 62.10 on 26 August 2011.

The stock had outperformed the market over the past one month till 2 August 2012, rising 1.15% compared with the Sensex's 1% fall. The scrip had also outperformed the market in past one quarter, jumping 10.5% as against Sensex's 0.45% fall.

The IT company has an equity capital of Rs 235.37 crore. Face value per share is Rs 2.

Mahindra Satyam's consolidated net profit declined 34.1% to Rs 352 crore on 12.8% growth in revenue to Rs 1880 crore in Q1 June 2012 over Q4 March 2012. Earnings before interest, taxation, deprecation and amortization (EBITDA) jumped 39.8% to Rs 408 crore in Q1 June 2012 over Q4 March 2012. EBITDA margins rose sharply to 21.7% in Q1 June 2012 from 17.5% in Q4 March 2012. The sequential decline in bottom line was due to base effect. The company's bottom line in Q4 March 2012 was boosted by exceptional income of Rs 109 crore as also due to tax credit of Rs 94 crore.

The merger of Tech Mahindra and Mahindra Satyam announced on 21 March 2012 is progressing on schedule, the company said in a statement.

Commenting on the first quarter results, Vineet Nayyar, Chairman, Mahindra Satyam, said, "With this quarter, we have successfully ended our 3-year transformational journey, recording progress on the back of strong fundamentals, focus and investments. Global business realities continue to be unpredictable. However we are confident of taking forward our momentum".

Speaking on the occasion, CP Gurnani, CEO, Mahindra Satyam said, "We compete in the marketplace today with investments in services, markets and our differentiators. Our plans to convert some of these bullets into cannon balls is a reflection of our performance this quarter".

Mahindra Satyam is a leading global business and information technology services company. The company's area of operations include enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services. Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.