HYDERABAD, INDIA: Satyam Computer Services posted net profit of Rs 547.7 crore for the first quarter ended June 30, 2008 with a year-on-year increase of 44.8 per cent and a sequential increase of 17.3 per cent.

The company has posted a total income of Rs 2620.80 crore for the same period with 43.2 per cent annual growth and 8.5 percent sequential growth. 

Earnings per share for the period was at Rs 8.16.

Commenting on the results, B Ramalinga Raju, Chairman of the company, said, "Satyam forged ahead during the first quarter, despite difficult economic environments in key markets. Our focus on transformation initiatives is finding greater acceptance from customers enhancing our ability to garner a higher share of their spend."

Giving out the business outlook for the year 2009, the company said the revenue is expected to be between Rs 11,181 crore and Rs 11,363 crore, implying a growth rate of 32.0 per cent to 34.1 per cent over fiscal 2008. EPS for the full year is expected to be between Rs. 31.83 and Rs. 32.35.

For the second quarter, revenue is expected to be between Rs. 2,743 crore and Rs 2,769 crore. EPS for the quarter is expected to be between Rs. 7.71 and Rs. 7.78.