Satyam announced early this week that it is on the recovery (its revenue and net profits grew in the third quarter ended Dec. 31, 2010).

On Monday (14 February) the firm said that revenue had grown to 12.8 billion rupees (US$281 million), up by about three per cent from the previous quarter, while net profit had more than doubled to 590 million rupees (US$12.9 million) from 233 million rupees in the previous quarter. The results are in accordance with Indian accounting rules.

The company is now stable at the $1 billion - $1.1 billion revenue level, and there is no longer an exodus of customers.

Satyam has also started focusing on select markets, but these efforts have not yet translated into high revenue and profits growth for the company, although the outsourcing market is bouncing back.