Mahindra Satyam has reported a growth of 5.8 per cent in profits in the second quarter of the current financial year to Rs. 238.2 crore as against Rs. 225.2 crore.

The revenue of the firm rose 10 per cent at Rs. 1,577.8 crore from Rs. 1,433.9 crore on quarter on quarter basis. The Earnings before interest, depreciation, taxation and amortization (EBIDTA) was at Rs. 242 crore recording a growth of 13.7 per cent over the last quarter.

The company recruited 654 new employees this quarter while attrition fell to 15.6 per cent from 17 per cent. As of September 30, 2011, Mahindra Satyam has a total number of employees at 32,092. The company added 36 new clients including three from the fortune 500.

CP Gurnani, CEO, Mahindra Satyam, said, "Our emphasis on `differentiation' and scaling up our market share through verticalized solutions is bearing fruit. Investments into emerging areas such as Enterprise Mobility and Smart Grid are gaining momentum."

Vineet Nayyar, Chairman, Mahindra Satyam said that the company has been able to show significant improvement despite uncertain economic conditions.

Meanwhile, Ramalinga Raju, founder and former chairman of Mahindra Satyam was granted bail last week by the Supreme Court in a $1.5 billion financial fraud case.