Satyam revenue rises 45 per cent to £248m

Satyam revenue rises 45 per cent to £248m

The Indian services company has also signed a 10-year contract with Reuters

Revenue for Indian IT services company Satyam rose to $509m (£248m) during the second quarter of the year, up nearly 45 per cent on 2006.

Net income totalled $102m (£49m), up 55 per cent from the previous year, while earnings per share rose 52 per cent to 31 cents (15p).

Satyam has also signed a deal with Fujitsu to provide IT support and services to news agency Reuters.

The contract forms part of a 10-year transformation programme valued at $1bn (£488m) and will see Satyam provide support to over 17,500 Reuters staff based in 100 countries around the world.

Satyam has also announced plans to buy UK consultants Nitor Global Solutions for £2.76m. The firm will merge with Satyam's infrastructure management services group.