(Source: Datamonitor)
IT services company Infosys Technologies has reported a 33% increase in net income to $336m for the third quarter 2009, compared to net income of $252m in the year-ago quarter, on revenue up 35% at $1.18 billion. Operating profit grew 46% to $416m from $285m in the same quarter last year.
The India-based company said revenue from financial services grew 29% year-on-year to $414m, while manufacturing services revenue surged 82% to $232m, and telecom services revenue rose 7.5% to $198.6m. Revenue from retail services increased 41.4% to $149m and "others" rose 41% to $191m. During the quarter the company and its subsidiaries added 30 new clients and 5,997 employees.
Infosys chief executive and managing director S Gopalakrishnan said: "In a challenging environment, our focus is on creating value for clients, running an optimized business, and evolving our business model that will allow us to emerge stronger when the global economy starts recovering."
For fiscal year 2009, the company expects consolidated income to be in the range of $4.6 billion to $4.7 billion, and year-on-year growth of 11.8% to 12.8%.
A service of YellowBrix, Inc.
