IT bellwether Infosys Technologies has reported 14.17 percent growth in consolidated net profit at Rs 1,780 crore for the third quarter ended 31st December 2010.

The company had a net profit of Rs 1,559 crore in the December quarter of the previous fiscal (2009-10), Infosys said in a filing to the Bombay Stock Exchange on Thursday.

The consolidated revenue of the country’s second largest software exporter rose to Rs 7,106 crore against Rs 5,741 crore over the year-ago period.

“The weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default could impact industry growth. We are closely working with our clients, as they fine tune their strategies for the future,” Infosys CEO and MD S Gopalakrishnan said.

For the Q4 ending 31st March, the company expects the revenues to be in the range of Rs 7157- Rs 7,230 crore, while it anticipates the revenue for the full year ending 31st March 2011, in the range of Rs 27,408- Rs 27,481 crore.

Besides, the company has appointed R Seshasayee as an Additional Director with immediate effect. The appointment is subject to the shareholders approval.

On the standalone basis, the company has reported 11.55 percent growth in its net profit at Rs 1,641 in Q3 2010-11, over the same period in the previous fiscal.

Income rose to Rs 6,534 crore in the October-December quarter, against Rs 5,335 crore in the same period last fiscal.

Shares of Infosys on Thursday morning were trading at Rs 3,266.00, down by 3.23 percent on BSE.