Satyam post 25 percent gains in net profits

Satyam post 25 percent gains in net profits

Indian IT Company Satyam has come out with their latest revenue report and the company has said that their quarterly net profit jumped 25 percent.

However, they fail to match the improved performance of their rivals who have posted gains by as much as 52 percent in the recent quarters.

Satyam said that their net profit climbed to 3.3 billion rupees in the third-quarter to December. The revenues were up 31.3 percent to 16.6 billion rupees.

This improved performance however failed to impress the investors as the company suffered at the stock market. Satyam shares fell 5.3 percent or 27.3 rupees after the announcement of the results.

Satyam chairman Ramalinga Raju spoke about their performance report: “The demand is being fuelled by increasing budgets for information technology spending and a rising number of global outsourcing deals.”