Profit at India's Satyam Computer falls six percent

BANGALORE, India (AFP) Apr 24, 2003
India's fourth largest software exporter Satyam Computer Services said Thursday its year to March net profit fell 6.2 percent compared with the previous year to 4.6 billion rupees (96 million dollars).

The fall in profits came despite a 13.7 percent rise in total income to 20.5 billion rupees for the most recent year, the company said in a statement.

The result took into account losses incurred by the company in its subsidiaries.

Net profit after tax and extraordinary income fell 32 percent to 3.1 billion rupees. The firm did not elaborate on the losses it had suffered.

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