Satyam Computer Services Ltd has reported a net profit of Rs 580.9 crore for Q2. It is 42 per cent more than the previous financial result of the company.

The revenue of the company increased to Rs 2819.29 crore despite global financial crisis and considerable depreciation of rupee in the current quarter.

However, its BPO operations are still suffering losses. It suffered a loss of Rs 20 crore in the present fiscal.

The chairman and founder of the company, B Ramalinga Raju said that the company believes in operational efficiency, a comprehensive services portfolio and an ability to provide true transformation.

These traits helped it for its positive growth. He said that the financial environment of the world would remain tight with the collapsing of the US banking and financial services sector.

However, the present crisis also brings a good scope for transformation. Satayam maintains a cash reserve of Rs 4,000 crore and may carry out acquisitions and mergers in coming days.

The CFO of company, V Srinivas said that company is working on planes to reduce company’s dependence on North American market.