Bangalore: Software major Infosys Technologies reported a net profit of Rs 328.14 crore for the third quarter ending December, up by 28.02 per cent over Rs 256.31 crore posted in the corresponding quarter last year.

Revenues during September to December 2003 increased to Rs 1,235.26 crore, up by 28.86 per cent over Rs 958.64 crore reported in the same period last year.

Beating market expectations, the Bangalore-based IT bellwether said its earnings per share from ordinary activities increased to Rs 49.93, an increase of 27.73 per cent from Rs 38.70 for the corresponding period last year.

"We have reorganised Infosys to face new challenges - increased expectations from clients, a fast-changing economy and a new competitive scenario," Infosys CEO (chief executive officer), president and managing director Nandan M Nilekani said in a statement to the Stock Exchange.

"We have enhanced our focus on vertical markets and on providing business solutions leveraging technology and using our global delivery model," Nilekani said.

Infosys projected a revenue between Rs 1,260 crore and Rs 1,269 crore for the fourth quarter between January and March 2004.

For the total fiscal, Infosys has projected revenues between Rs 4,712 crore and Rs 4,721 crore.

Infosys had reported a revenue of Rs 3,622.69 crore for the last fiscal with a net profit of Rs 957.93 crore.

The company said it has added 30 new clients during the last quarter with a gross addition of 3,666 employees.

"We have added several high-quality clients in the high-tech and financial services sectors in addition to leading communication service providers," Worldwide Sales head and senior vice president Basab Pradhan said.