13 January,2009 02:51 PM IST | | Sivasankar
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Infosys Technologies has announced its results for the quarter ended on December 31, 2008. The IT major's net profit rose to Rs 1,641 crore,u00a0up by about 14.6 per cent compared to Rs 1,432 crore achieved in the previous quarter. This amounts to a YoY growth ofu00a033.3 percent.
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The company's revenues for the quarter rose 6.8 per cent to Rs 5,786 crore, compared to Rs 5,418 crore in the previous quarter, a YoY growth of 35.5 per cent.
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The earnings per share increased to Rs. 28.66 from Rs. 21.54 in the corresponding quarter in the previous year; the YoY growth was 33.1 per cent.
"In a challenging environment, our focus is on creating value for clients, running an optimized business, and evolving our business model that will allow us to emerge stronger when the global economy starts recovering," said S Gopalakrishnan, CEO and MD.
"In a challenging environment, our focus is on creating value for clients, running an optimized business, and evolving our business model that will allow us to emerge stronger when the global economy starts recovering," said S Gopalakrishnan, CEO and managing director.
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The company has added 30 new clients in the quarter.
Later, addressing the media HR head Mohandas Pai said Infosys wasn't averse of taking Satyam employees. But the Satyam employees should be with the company in this hour of crisis, he said.
He said the Satyam fiasco calls for strict regulation. The cases shouldn't drag on. Strict punishment should be given to the culprits so that such frauds may not occur in future, he said.
Gopalakrishnan said recession is going to stay at least till the end of this year. It may recover towards the end of 2009 or early next year.
Infosys is seeing the total recovery in 18 months. The company will be hiring 20,000 workers next year, and there is no room for any concern. However, during the boom time, there was no differentiation between performers and non-performers. Now employees will be screened based on performance, said Mohandas Pai.
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