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Satyam Q3 net down 2.2%, below forecast
January 23, 2003 12:05 IST
Satyam Computer Services, India's fourth-largest software services exporter, said on Thursday quarterly profit fell 2.2 per cent, below market expectations.
US-listed Satyam, which counts General Electric as its top client, posted a net profit of 1.17 billion or diluted earnings per share of Rs 3.70 in the fiscal third quarter ended December 31.
That compared with a profit of Rs 119 crore (Rs 1.19 billion), or Rs 3.80 a share, in the year-ago period.
Total income rose 16.9 per cent to Rs 521 crore (Rs 5.21 billion) from Rs 446 crore (Rs 4.46 billion).
The results came below a median net profit of Rs 1.27 billion and total income of Rs 536 crore (Rs 5.36 billion), according to a Reuters poll of 12 analysts released earlier this month.
Shares of Satyam have jumped 21 per cent since end-September, outperforming a 16 per cent rise in the Bombay Stock Exchange's infotech index. It's shares closed 1.35 per cent down at Rs 260.15 on Wednesday in a flat market.
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