Satyam Computer Q1 net soars 86.3%

BANGALORE: India's fourth-biggest software exporter, Satyam Computer, said Friday its net profit jumped 86.3 per cent, beating market forecasts, as the firm won more clients in an outsourcing boom.        

Net profit of Satyam, based in Hyderabad, hit Rs 3.5 billion rupees ($78 million) for the three months to June on revenues which climbed 36.9 per cent to 14.4 billion rupees, the company said.            

New York-listed Satyam's profit beat analysts' forecasts of around Rs 2.93 billion rupees while revenues eclipsed expectations of 13.96 billion rupees.

Satyam said in a statement it added 34 new clients during the first quarter.