Satyam chief B. Ramalinga Raju in Hyderabad on Friday. (AFP)

Hyderabad, Oct. 20: Satyam Computer Services Ltd, India’s fourth-largest software services exporter, has posted a 35 per cent jump in earnings in the second quarter of this fiscal.

Satyam chairman B. Ramalinga Raju said the revenues and earnings per share far exceeded the guidance following a strong volume growth of 9.5 per cent during the quarter.

Revenues from software services stood at Rs 1,601.88 crore in the second quarter, a 38.69 per cent rise over the corresponding period of the previous year.

He said the guidance for the current fiscal was revised upwards to Rs 6,452 crore-Rs 6,478 crore with an annual growth rate of 34.6 per cent- 35.1 per cent.

The company’s net profit stood at Rs 322.34 crore, registering a 28.57 per cent growth over the corresponding period of the previous year.

Earnings per share (EPS) stood at Rs 4.89, a year-on-year growth of 32.52 per cent.

“The EPS guidance has also been hiked to Rs 20.73- Rs 20.81,” said Raju.

Satyam also plans to recruit 8,000 associates during this fiscal for its global operations.

“We have added 4,025 associates during this quarter itself,” he said, adding Satyam has drawn up an expansion plan for Latin America, Eastern Europe, Brazil and South America.

He also said the company had plans to expand its operations in China and Canada. “We have a staff of 400 in China and we plan to take it to four digits in the next few quarters,” he said.

Satyam’s Vishakhpatnam unit will have 750 associates by March 2007.

The Satyam chairman ruled out any possibility of a hostile takeover bid for the company. “I do not think such a thing will happen,” he said.

When asked about rumours of some companies offering to buy the promoters’ stake in Satyam, he said, “There is no such intention or discussion with anyone.”

He said 8.5 per cent of the equity stake belonging to his family and himself were corporatised into a separate holding recently.