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REUTERS [ WEDNESDAY, APRIL 24, 2002 10:50:59 AM ]
BANGALORE: Satyam Computer Services said on Wednesday its January-March net profit rose 3.42 per cent from a year earlier, slightly exceeding analysts' consensus expectation.
India's fourth-largest software services exporter posted a profit of Rs 1.15 billion ($23.49 million), up from Rs 1.11 billion a year earlier. Total income rose 25.6 per cent to Rs 4.83 billion from 3.84 billion.
Net profit was forecast at Rs 1.12 billion, nearly flat from a year earlier, on net sales of Rs 4.53 billion rupees, up 18 per cent, according to the median estimates in a Reuters' poll.
New York Stock Exchange-listed Satyam serves more than forty Fortune-500 clients with General Electric and Sony among its top five. Based in Hyderabad, the company employs more than 8,500 staff.
Satyam's shares rose 1.1 per cent on Tuesday to close at 267.50 rupees on the Bombay Stock Exchange. Its shares have risen 13 per cent in 2002, outperforming the four per cent gain of the Bombay infotech index.
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