Satyam profit up 55 per cent

Satyam's revenue rose 50 per cent in the third quarter

Profit at Indian services provider Satyam jumped 55 per cent to $110m (£56m) in the third quarter, rising from the $71m (£36m) reported in 2006.

Revenue was also up, by 50 per cent, to $563m (£288m).

Alongside its financial results, Satyam also revealed it has bought Chicago-based consulting firm Bridge Strategy Group for the cash sum of $35m (£18m).

“Bridge Strategy Group is a highly respected organisation that is well known for its exceptional professionals and its acumen in seven key industries,” said Satyam Founder & Chairman, B. Ramalinga Raju.

“By absorbing the company, we gain an immediate influx of 36 brilliant and experienced strategy consultants, most of whom are alumni of the world’s best strategy consulting firms and business schools.

"We also significantly bolster our ability to provide the entire spectrum of services to global customers."