Satyam Computer Services on Friday announced a consolidated net profit of Rs 580.85 crore (Rs 5.81 billion) for the second quarter ended September 30, a growth of 42 per cent over the corresponding period a year ago.
The firm had a net profit of Rs 409.09 crore (Rs 4.09 billion) in the second quarter of FY'08, Satyam Computer Services said in a filing to the Bombay Stock Exchange.
The total income rose by 35 per cent to Rs 2,898.87 crore (Rs 28.99 billion) for the quarter under review, from Rs 2,142.26 crore (Rs 21.42 billion) in the year-ago period.
The company has declared an interim dividend of Rs 1 on shares of face value of Rs 2 each.
For the half year ended September 30, the company reported a 43.32 per cent growth in net profit at Rs 1,128.55 crore (Rs 11.28 billion), while the total income was at Rs 5,552.82 crore (Rs 55.53 billion).
On the back of better performance in the first half of the year and weakening rupee, the company also increased its annual revenue guidance under Indian accounting rules to 35.4 per cent.
"In the light of better-than-guided performance for the first half and the favourable movement of rupee against the US dollar, we are revising our annual revenue guidance under Indian GAAP upwards to between 33 per cent and 35.4 per cent," Satyam Computer Services chairman B Ramalinga Raju said.
As per the US accounting rule, the company reported a 28.8 per cent increase in revenue to $652.2 million.