Hyderabad: Satyam Computer, India’s fourth biggest software services exporter has announced 27.92 percent increase in its second quarter net income to 409.09 crore.

Software major has registered an increase of 31.42% in its total income, which stood at Rs 2,142.26 crore in the second quarter, from Rs 1,630.11 crore in the year ago period.

The company’s standalone profit augmented to 417.15 crore in the three months period ended Spetember 13, 2007. It also reported a 25 percent growth in the earning per share (EPS) at Rs 6.12.

The quarterly income zoomed to Rs 2,056.44 crore for the quarter ended September 30, 2007 in comparison with Rs 1,565.84 crore for the same period a year ago.

The company’s directors have also announced an interim dividend at Rs 1 per share.

Due to strong performance, Satyam raised its expectation for the financial year to 26.3 to 26.7 per cent, and earnings per share (EPS) to Rs 25.1.

The company is aiming a consolidated growth at 16.5-17 percent. It expects a revenue growth for the coming quarter to be between 3.6 per cent and 4.1 per cent.

Hormuz Maloo, Technical Analyst, Geojit Financial Services, said, “One can stay invested in this counter. It should move up from current levels.”

The stock markets took notice of the company’s brilliant performance, and the stock gained more than 3 percent at Rs 462 levels in afternoon dealings on yesterday.