Infosys profit up 42 per cent

Infosys's profits rose 42 per cent in the quarter

Profit at Indian services provider Infosys rose 42 per cent to $310m (£158m) in the third quarter, up from $218m (£111m) in the same period last year.

Quarterly revenue was $1.08bn (£552m), up 32 per cent from $821m (£419m) year on year. Overall sales reached $3.03bn (£1.5bn) in the nine months to December.

After re-structuring in line with the US business, Infosys Europe's activities now run along seven core business areas.

The changes reflects a shift in attitude, said Ovum analyst Samad Masood.

"Infosys is now taking Europe seriously and investing at a corporate level to support the growth it wants to achieve here over the next few years," he said.

"The company is the last of the top three Indian vendors to make such a move.

"But given that it is generally the fastest growing among the three, Western vendors could have more to fear from Infosys than the others," said Masood.