BANGALORE: Indian IT major Infosys Technologies has announced an increase of 28.02 percent in its net profit after tax--from Rs 256.31 crore for the quarter ended December 31, 2002 to Rs 328.14 crore for the third quarter ended December 31, 2003.
The company also reported an increase of 28.86 percent in its income from software development for the third quarter ended December 31, 2003 to Rs 1,235.26 crore as compared to an income of Rs 958.64 crore in the corresponding quarter in the previous year.
Earnings per share (EPS) from ordinary activities increased to Rs 49.43 from Rs 38.70 for the corresponding quarter in the previous year, an increase of 27.73 percent.
Infosys further announced that it has added 30 new clients during the quarter. There was a gross addition of 3,666 employees for the quarter for Infosys and its subsidiary, Progeon Ltd taking the total to 23,209 employees by the end of Q3.
"We have reorganized Infosys to face new challenges - increased expectations from clients, a fast-changing economy and a new competitive scenario," said Infosys CEO, president and MD, Nandan M Nilekani. "We have enhanced our focus on vertical markets and on providing business solutions leveraging technology, using our Global Delivery Model."
Progeon Ltd added one client during the quarter and generated revenues of Rs 21.78 crore. The net addition to employees during the quarter was 362 and the employee strength as on December 31, 2003 was 1,400.
The company's outlook for the quarter ending March 31, 2004 under Indian GAAP includes projected Infosys consolidated income from software development services and products to be between Rs 1,319 crore and Rs 1,331 crore. EPS is expected to be Rs 49.70. In its outlook for the fiscal year ending March 31, 2004, the company's consolidated income is projected to be between Rs 4,823 crore and Rs 4,835 crore. EPS is expected to be Rs 186.70.
(CyberMedia News Service)