Bangalore, July 24: Satyam Computer Services Ltd, the country’s fourth-largest software exporter, reported a 11.6 per cent rise in quarterly net profit on Thursday, in line with expectations, as overseas clients boosted outsourcing orders to cut costs. New York-listed Satyam , which counts General Electric as its top client, reported a profit of Rs 121 crore, or diluted earnings per share of Rs 3.86 in the fiscal first quarter ended June 30.
The company also revised upwards its revenue guidance for the financial year 2003-04. The company expects the revenue growth in range of 18-20 per cent as compared to the earlier guidance of 15-17 per cent.
That compared with a reported profit of Rs 108 crore, or Rs 3.43 per diluted share, in the year-ago period and a loss of Rs 35.91 crore after accounting for an exceptional expense in the fourth quarter.

The results came after larger rival Infosys Technologies Ltd beat profit estimates this month and raised full-year earnings forecast, driven by robust demand, while Wipro Ltd disappointed markets with its results.
Bureau Report