Infosys Technologies has reported a better than expected q3,2010 results and has beaten the street expectations.The Net profit of Infosys stood at Rs 1582cr Vs Rs1540 cr in the previous quarter(Q2). The net Revenue of the company increased to Rs 5741 cr Vs Rs 5585cr in previous quarter.

The company also said that global recovery is led by US and IT budgets are expected to be flat.The income of the company grew by 2.8% Q-o-Q and declined by 0.8% Y-o-Y. The net profit of Infosys grew by 2.7% Q-o-Q and declined by 3.6% Y-o-Y. The company added 4429 employees in the third quarter.

The stock has been doing well and gained 4% today to close at 2587 levels. Market analysts are of the view that Infosys will touch Rs 3100 levels in the coming days. The next result is from TCS on Jan 15th. Overall all the IT stocks did well on the back of good infosys Technologies Q3 2010 results

 

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