Infosys Q3 profit up 28 per cent

Bangalore: Infosys Technologies Ltd said its third-quarter profit rose 28 per cent, exceeding expectations, as it added new clients and won more business from existing customers. The net income for the quarter ended December rose to Rs 328 crore against Rs 256 crore a year earlier.

The company added 30 new clients in the third quarter, raised its outlook for the fourth quarter and for the full year ending March 31. The group expects to earn as much as Rs 49.7 per share for the fourth quarter compared with an earlier estimate of Rs 45.60. The revenues may reach as much as Rs 1,331 crore.

It expects earnings per share of Rs 186.7 for the full year, compared with an earlier estimate of Rs 179.3. The revenues for the fiscal is expected to be Rs 4,835 crore.

The company hired 3,666 employees during the quarter to meet rising demand. That includes 326 people added at Progeon Ltd., Infosys transaction processing unit.

Pricing has been stable and despite the largest hiring for a quarter, margins have been maintained, said Mr T.V. Mohandas Pai, Chief Financial Officer, in a statement issued by the company in Bangalore.