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January 13, 2011

Infosys Q3 revenue up 23% to $1.6bn

Net profit up 18% on year ago quarter

By CBR Staff Writer

Infosys Technologies has reported revenues of $1.6bn for third quarter of 2010, an increase of 23% compared to $1.3bn for the same period last year.

The company posted a gross profit of $679m, compared to $532m, and an operating profit of $479m, compared to $382m, for the same period last year.

For the quarter ended 31 December 2010, the company posted a net profit of $397m, an increase of 18% compared to $334m for the same period a year ago.

Infosys Technologies CEO and managing director Gopalakrishnan said the weaker economic recovery in developed markets coupled with high unemployment and risk of soverign default could impact industry growth.

For the fiscal year 2011, the company expects the revenue to range between $6.04bn and $6.06bn, while for the quarter ending 31 March 2011 revenues are expected to be in the range of $1,601 million and $1,617 million; with YoY growth of 23.5% to 24.8%.

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