Mumbai, April 10 :    Mumbai, April 10:  India Inc's earnings season got off to a rousing start today with Satyam Computer Services bettering market expectation and recording a whopping 164 per cent rise in net profit for the fourth quarter ended March 31 this year. Net profit of the Hyderabad-based infotech company soared to Rs 111.34 crore compared with Rs 42.09 crore in the same period of the previous year. Satyam attributed the strong performance to its good customer base and the new businesses it generated during the quarter. Contrary to the recent trend, Satyam did not issue any advance profit warning for the current financial year and even said many of the factors that contributed to its strong fourth quarter performance would support its growth in the next few quarters. However, Satyam chairman B. Ramalinga Raju was guarded in his comment on the future and said, 'We are cautiously optimistic about our growth prospects for the current financial year.' Raju said the company took extra initiative to manage its key customers and this resulted in an increase in existing clients' contribution to business to 83 per cent of total revenues (63.27 per cent during fourth quarter of 1999-2000 and 78 per cent during the third quarter of the last financial year). The company would endeavour to constantly enhance long-term relationship with major clients, he added. The top ten customers of Satyam accounted for 49 per cent of revenues as against 56 per cent in the previous quarter, indicating an increase in business from other customers and overall increase in the total number of clients. The company won more than 110 new customers during the year with as many as 32 being roped in the fourth quarter. Acknowledging the strength of its consumer base, Satyam said 'The goal is to increase market share in its top 50 accounts.' The partnerships with enterprise technology vendors like i2, Ariba, Siebel, Vignette and SAP have also helped to win new projects and increase market share at existing accounts, it added. While revenues for the fourth quarter stood at Rs.384.24 crore, up 85.80 per cent over the revenue of Rs.206.79 crore in the corresponding quarter of the previous fiscal, the revenue for the financial year ended March 2001 stood at Rs.1241.67 crore, which represented an increase of 82.86 per cent over Rs 679.01 crore earned in the previous year. The net profit after tax (before extraordinary items) was up 134.43 per cent from Rs 134.86 crore in 1999-2000 to Rs.316.16 crore in the last financial year. The results, which came after market hours, widely surpassed analysts predictions of a 100-110 per cent growth in net profit. 'They are quite stunning,' remarked an analyst. While the scrip may hit the 8 per cent upper circuit limit during tomorrow's trading on the bourses, analysts felt that Raju's cautious optimism on future growth would be closely monitored. Satyam said a significant trend during the fourth quarter was the change in business mix. It witnessed an increase in traditional maintenance business with a marginal decrease in e-commerce projects. While internet and e-commerce provided 23 per cent revenues (30.73 per cent during the third quarter), the traditional maintenance business stood at 23 per cent (18.47 per cent during Q3). The ERP business also grew marginally contributing 8 per cent (6.8 per cent during Q3) to the total revenues.