Hyderabad: Performing above expectations, IT major Satyam Computer Services Limited has posted a 20 per cent increase in total income touching Rs 570.34 crore for the quarter ended June 30, 2003 as against Rs 471.48 crore in the corresponding period in 2002 and upwardly enhanced its revenue guidance for the year.

The company registered net profit of Rs 121.49 crore during the quarter, up by 12 per cent compared to Rs 108.44 crore during the corresponding period in 2002.

Income from software exports touched Rs 545.92 crore as against Rs 458.93 crore in the corresponding period in 2002.

"An encouraging feature of revenue growth has been its dispersion across verticals, both established and nascent, as well as technology segments and geographic regions," the chairman of the NYSE-listed company, B Ramalinga Raju told reporters after a meeting of the Board of Directors, which took on record the Q1 results.

While revising annual revenue guidance upwards from 15 to 17 per cent to 18 to 20 per cent in Dollar terms, the company has retained the EPS (Earning Per Share) at the same level of Rs 15.65 to Rs 16.

"The revision of guidance upwards is by no means an indication of lack of challenges in the environment. The continuing economic uncertainty in our major markets coupled with rising trend of non- tariff barriers does impose challenge on us," Raju said.

PTI