The shares of Indian IT sector firm, Mahindra Satyam rose 6 per cent to Rs 76.20 after the company announced a higher than expected profit for the fourth quarter till March 2012.

A combined total of 4.5 million shares have already exchanged hands on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) till afternoon compared to an average of below sub 5 million shares for the last two weeks.

The company said that its net profit rose to Rs 534.21 crore for the fourth quarter till March 2012, recording a hike of 73.2 per cent. The rise comes mainly due to one-time gain of Rs 109 crore and deferred tax asset of Rs 162 crore. The growth returns to the company after two years of efforts undertaken by the management after taking over tainted Satyam technologies in June 2009.

Mahindra Satyam CFO Vasant Krishnan had said, "This quarter we had a benefit of 1.3% on currency rate. The growth was largely volume driven. Efficiency levels are also pretty significant in this quarter."

Company's chairman Vineet Nayyar added that the global economic condition is fragile and the company will aim at maintaining its current level of profitability.