Indian-based outsourcer Satyam has posted a Q2 (ending September) net profit of $US52 million, a rise of 38.4 percent year on year.

Revenue from software services increased by 8.86 percent netting a total of $268 million, a 41.78 percent increase compared to the same quarter last year.

Satyam founder and chairman Ramalinga Raju said Q2 2005 was the first quarter where the company achieved annualized revenue of $1 billion dollars.

"It was yet another quarter of high, single-digit, broad-based growth continuing the consistent performance witnessed over the last several quarters," Raju said.

"We continue to experience increased momentum in the market and believe that the demand for business solutions using the global delivery model is robust.