India's second largest Software service provider, Infosys crossed the estimated profits in December quarter (Q3) for the year 2013. As stronger economic growth in Europe and the United States revived demand for outsourcing services, the net profit of the company rose to 2,875 crore from 2,369 crore last year. Infosys shares increased to 3.6 percent after the company announced its quarterly earnings this afternoon.

The Revenues were up by only a small margin of 0.5 percent to Rupees 13, 206 crore and Liquid assets including cash and cash equivalents, certificates of deposits and government bonds increased to Rs 27,440 crore as on December 31. However, the company has reduced the workforce for the first time in nearly five years. In December quarter 1823 employees departed the company.

As the Global crisis is getting faded away, Infosys expects more better results in 2014.