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Journalism of Courage
Indian software services exporter Mahindra Satyam (previously Satyam Computer led by now disgraced B Ramalinga Raju) on Tuesday posted a better-than-expected first-quarter profit.
Net profit for the quarter ended June was at 2.25 billion rupees ($50 million). The year-ago figure was not immediately available.
Analysts had forecast a net profit of 1.34 billion rupees.
Satyam stunned investors in 2009 when its former chairman and founder Ramalinga Raju said profits had been overstated and assets falsified in a fraud allegedly worth more than $1.5 billion. ($1 = 44.970 Indian Rupees)
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