Mahi-SatQ3 profit jumps 153%

HYDERABAD: Scam-hit IT player Mahindra Satyam, formerly known as Satyam Computer Services, has shown improved performance for the third quarter ended December 31, 2010, clocking a 153% jump in net profit to Rs 59 crore, as against a profit of Rs 23 crore during the quarter ended September 30, 2010.
The company's consolidated revenue crept up 3% to Rs 1,279 crore during the third quarter as compared to Rs 1,242 crore during the second quarter of the current fiscal.
"Our efforts of investing in core competencies have begun to show encouraging results. Mahindra Satyam is geared up for a promising year of growth and opportunities. We look at the coming year with cautious optimism," Mahindra Satyam chairman Vineet Nayyar said while declaring the third quarter numbers on Monday.