Infosys announces results for 3rd quarter

Bangalore: Infosys Technologies Consolidated results for the quarter ended December 31, 2007. Revenues for the quarter aggregated $1,084 million, up 6.07 percent from $1,022 million for the quarter ended September 30, 2007.

S. Gopalakrishnan, CEO and managing director, said, "We see several opportunities for growth in the marketplace and have concluded several multi-year, multi-million deals during the quarter. We believe that our ability to handle large, complex programs using the Global Delivery Model provides a compelling value proposition to global customers seeking efficiency in a challenging macro-environment."

The company said that Infosys added 47 clients during the quarter and won repeat business from existing clients. Infosys entered into a multi-year multimillion-dollar contract with a healthcare company to provide application services and testing support for a critical business platform. Besides potential cost savings of over $60 million for the client, the engagement offers benefits such as portfolio integration, knowledge management and a scalable support model. Infosys is also partnering with one of the leading providers of specialized, comprehensive Health Care Support solutions as well as another corporation that provides clinical laboratory services.

V. Balakrishnan, chief financial officer, said, "Cash and cash equivalents crossed $ 2 billion. We also crossed a significant milestone reaching $1 billion in net profits in the last twelve months. The currency environment continues to be challenging."

Infosys Technologies