Satyam Q3 net rises 29 pct, meets forecast

BANGALORE: Satyam Computer Services Ltd India's fourth-largest software services exporter, on Monday posted a 29 percent 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 consensus forecast of 4.32 billion rupees.   

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.