Satyam Q3 net rises 29 pc

India's fourth-largest software services exporter post a 29 per cent rise in quarterly profit, meeting estimates, as it won large outsourcing deals.

Satyam Computer Services Ltd, India's fourth-largest software services exporter, on Monday posted a 29 per cent rise in quarterly profit, meeting estimates, as it won large outsourcing deals.

New York-listed Satyam, which specialises in business software and offers back-office services, said consolidated net profit for its fiscal third quarter ended Dec 31 rose to 4.34 billion rupees ($110 million) from 3.37 billion reported a year earlier.

That compared with a Reuters consensus forecast of Rs 4.32 billion.

Satyam, whose clients include General Electric and Qantas Airways, reported its results after bigger rivals Tata Consultancy Services and Infosys Technologies beat estimates, while Wipro lagged forecasts.

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