Infosys sets up subsidiary in Sweden

Bangalore: Infosys Technologies has incorporated a wholly owned subsidiary in Sweden that would help the company expand its market reach in Europe. The company is yet to capitalise the Swedish subsidiary.

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"We are yet to decide on the investments," said V. Balakrishnan, Chief Financial Officer, Infosys Technologies. "We have a few customers in Sweden and we see a great market opportunity there," he added.

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Including the Swedish subsidiary, Infosys now has a total of six subsidiaries. While Infosys BPO Ltd and Infosys Technologies (Australia) Pty Ltd are profitable, the other subsidiaries such as Infosys Consulting and Infosys Technologies (China) Co Ltd and the Mexican subsidiaries are yet to break-even on a full year basis.

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Infosys China, for the quarter-ended March 31, 2009, achieved a break-even by posting a profit of $1.59 million on revenues of $9.14 million. For the year-ended March 31, 2009, Infosys BPO posted a net profit of $40.67 million on revenues of $279.46 million, while Infosys Australia reported a net profit of $9.95 million on revenues of $119.01 million.

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