Infosys Technologies has reported consolidated results under IFRS for the quarter ended Dec. 31, 2010. The company reported revenues of $1,585 million with QoQ growth of 6.0 percent and YoY growth of 28.7 percent.

Net income after tax was $397 million with QoQ growth of 6.1 percent and YoY growth of 18.9 percent. Earnings per American Depositary Share (ADS) was 0.69 with QoQ growth of 6.2 percent and YoY growth of 16.9 percent.

Forty clients were added during the quarter by Infosys (News - Alert) and its subsidiaries. Gross addition of 11,067 employees (net addition of 5,311) for the quarter by Infosys and its subsidiaries 1.3 million employees as on Dec. 31, 2010 for Infosys and its subsidiaries.

In a press release, CEO and Managing Director of Infosys Technologies, S. Gopalakrishnan, said, “The weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default could impact industry growth. We are closely working with our clients as they fine tune their strategies for the future.”

V. Balakrishnan, chief financial officer of Infosys Technologies, said, “Uncertainties related to sustainability of the global economic recovery could create greater currency volatility in the near future. Our focus will continue to be on high-quality growth balancing both the revenue growth and margins.”

Infosys defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered, said the company.

Recently, Infosys Technologies was in TMC (News - Alert) news when the company had developed an innovative Digital Smart Home Gateway (News - Alert) powered by the Intel Atom processor E600 series that links multiple home devices, enabling consumers to manage them from a Wi-Fi console, smart phone or remotely via the Web.

Sujata Garud is a TMCnet freelancer with three years of writing/editing experience and two years of market research experience. As an editor she has covered the IT, electronics, banking, pharma, construction, mining and healthcare industries. To see more of her articles, please visit her columnist page.

Edited by Janice McDuffee