Mahindra Satyam Q3 net jumps by to 58.9 Crore

Mumbai: Mahindra Satyam, formerly known as Satyam Computer Services, reported an over two-fold sequential jump in consolidated net profit for the quarter ended December 31, 2010, to 58.9 Crore.

The company had reported a consolidated net profit of Rs 23.3 crore for the July-September quarter of 2010.

Revenue for the third quarter grew marginally to Rs 1,279.3 crore from Rs 1,242 crore in Q2, FY2010-11, Mahindra Satyam said in a filing to the Bombay Stock Exchange
Mahindra Satyam had reported a net loss of Rs 1,250 crore for the year ended March, 2010, giving a first view of its financials almost two years after founder B Ramalinga Raju admitted to cooking the company's account books for years.

"Our efforts of investing in core competencies have begun to show encouraging results.