India's Satyam Computer Services Ltd handily beat expectations with a 20.6 percent rise in third-quarter profit before a one-off loss, joining larger rivals like Infosys in signalling a pickup in outsourcing spend. The company, now called Mahindra Satyam, is in the last lap of a merger with parent Tech Mahindra Ltd. Profits for the December quarter rose to 3.74 billion rupees ($70.3 million) from 3.10 billion rupees a year earlier, the company said on Thursday. That compares with analysts' estimate of 2.81 billion rupees, according to Thomson Reuters I/B/E/S.Profit after the one-off loss of 2.94 billion rupees was 800 million rupees, Satyam said.Satyam paid $68 million to Aberdeen Global and 22 funds to fully settle claims related to an accounting fraud that led to the sale of the Hyderabad-based company to Tech Mahindra, the company had said on Dec. 13.Satyam was sold in a government-backed auction in 2009 after its founder and former chairman admitted to one of the country's biggest accounting frauds.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI remained unchanged at $30.50. In the past year, the shares have traded as low as $26.20 and as high as $31.06. On average, 765692 shares of TRI exchange hands on a given day and today's volume is recorded at 0.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.91% or $-0.28/share to $30.58. In the past year, the shares have traded as low as $26.47 and as high as $31.22. On average, 860362 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1403092.
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