Satyam Q1 profits rise by 89%

By agencies   |   Friday, 21 July 2006, 07:00 Hrs
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BANGALORE: New York-Listed Satyam Computer Services Ltd., reported a quarterly net profit of 89 percent, that ended on June 30 at $38.64 million.

India’s fourth largest software service provider, Satyam exceeded analysts’ forecast and recorded a net profit of $77 million from April to June this year when compared to $43.18 million in 2005.

Satyam, which counts General Electric as one of its top clients among 300, has been making an effort to stride with Infosys Technologies Ltd. and Wipro, and from competitors like Accenture.
Satyam’s shares that have more than doubled over the past year has outperformed the Bombay Stock Exchannge’s IT index and has risen by about 72 percent.

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