Infosys (NYSE: INFY) Announces Results for the Quarter and Year ended March 31, 2013 (1)

BANGALORE, India, April 12, 2013 /PRNewswire/ --

Q4 revenues grew by 1.4% sequentially; FY13 revenues grew by 5.8%

Financial Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended March 31, 2013

        
        - Revenues were $1,938 million for the quarter ended March 31, 2013;
          QoQ growth was 1.4%
          YoY growth was 9.4%
        - Net profit was $444 million for the quarter ended March 31, 2013;
          QoQ growth was 2.3%
          YoY decline was 4.1%
        - Earnings per American Depositary Share (EPADS) was $0.78 for the quarter ended
          March 31, 2013; QoQ growth was 2.6%
          YoY decline was 3.7%
        - The Board of Directors recommended a final dividend of `27 per ADS for fiscal
          2013 (equivalent to final dividend of approximately $0.50 per ADS at the prevailing
          exchange of `54.29 per US$). The Register and Share Transfer Books of the Company will
          be closed from June 1, 2013 to June 15 2013 (both days inclusive)
        - Liquid assets including cash and cash equivalents, current available-for-sale
          financial assets, investment in certificates of deposits and government bonds were
          $4.4 billion versus $4.1 billion as on December 31, 2012

Other highlights:

        
        - Infosys and its subsidiaries added 56 clients during the quarter
        - Gross addition of 8,990 employees (net addition of 1,059) for the quarter by
          Infosys and its subsidiaries
        - 156,688 employees as on March 31, 2013 for Infosys and its subsidiaries
        - The company listed its American Depository Shares (ADS) on NYSE Euronext's
          (NYX) London and Paris markets
        - The company has decided to set aside up to US$100 million to invest in
          products, platforms and solutions ideas in line with Infosys 3.0 strategy

"Global economic uncertainties remain challenging for the IT industry," said S. D. Shibulal, CEO and Managing Director. "We are progressing well on our strategic direction of building a high-quality company which is relevant to our clients. We are making all the investments necessary to differentiate ourselves in the market place while positioning ourselves as a partner of choice for our clients."

"The global currency market continues to be volatile reflecting the uncertain economic environment. Our hedging strategy helps us to minimize the volatility impact," said Rajiv Bansal, Chief Financial Officer. "We have a healthy balance sheet with our cash and cash equivalents at US$ 4.4 billion."

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Outlook*

The company's outlook (consolidated) for the fiscal year ending March 31, 2014, under IFRS is as follows:

Revenues are expected to grow 6% to 10.0%;

* Exchange rates considered for major global currencies: AUD / USD - 1.04; GBP / USD - 1.51; Euro / USD - 1.28

Business Highlights

        
        - We continue to see good adoption our products and platforms from our
          clients. This quarter we had 12 wins (excluding Finacle(TM)) across industries and
          geographies, taking our total number of clients for products and platforms to over 75.
        - In the last quarter we expanded our global footprint with a new delivery
          center in Munich, Germany, an onshore operations center in the Metro Atlanta Area,
          U.S. and a new delivery center for our BPO subsidiary in San Jose, Costa Rica.
        - The District of Columbia awarded us to implement the District of Columbia
          Access System (DCAS). DCAS will be a state-of-the-art health and human services
          solution that provides the District's Health Benefit Exchange, a new integrated
          eligibility system for Medicaid, private health insurance and other programs with new
          case management capabilities that span programs and agencies. This system will be used
          to determine eligibility and to enroll individuals, families, and small businesses
          that purchase health care coverage through the Exchange's online marketplace.
        - Our focus on Cloud and Big Data as new growth areas continues to yield
          results; we currently have more than 200 engagements and 3,500 experts in our Cloud
          practice. Over the last quarter, we won over 10 engagements across Cloud services, Big
          Data and security. Our vision of investing in new growth areas with differentiated
          solutions was strengthened by the launch of Infosys BigDataEdge that radically
          simplifies the complex task of analyzing Big Data to discover relevant information.
        - Mobility is an important focus for enterprises to make their organizations
          more efficient and customer centric and we are helping our clients realize the full
          business potential of mobility. In the last quarter we started 18 new engagements
          across various areas like business and technology consulting, customer outreach,
          mobile marketing, field services, enterprise efficiency.
        - During the fourth quarter, we applied for 21 unique patent applications in
          India and the U.S. With this, we have 532 patent applications undergoing various
          stages of patent prosecution in India, the U.S. and other jurisdictions, and have been
          granted 84 patents by the United States Patent and Trademark Office and three patents
          by the Luxembourg patent office.

Awards and Recognition

        
        - Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock Award for the most
          innovative product/service.
        - The National Association of Software and Services Companies (NASSCOM)
          presented its prestigious Business Innovation Award to Infosys Edge(TM).
        - We have been named a 2013 Computerworld Honors Laureate in recognition of our
          use of information technology to promote and advance public welfare, benefit society
          and business and change the world for the better.
        - Our enterprise mobility services were rated highly by various analysts,
          including a leader rating in The Forrester Wave(TM): Enterprise Mobility Services, Q1
          2013 report.
        - Ovum, the global analyst firm, recognized Flypp(TM) Digital Experience
          Platform as a well-developed ecosystem of services, large repository of apps
          (comparable to Google Play and the App Store) and monetization processes.
        - We won top accolades at the National Council for Work Experience (NCWE) Awards
          2013, marking us as one of UK's best internship providers.

Board of Directors

Mr. Leo Puri has been appointed Additional Director of the Company with effect from April 11, 2013. He will hold office up to the date of the Annual General Meeting, when his appointment as a director will be placed for the approval of the shareholders.

Mr. Puri is a Senior Advisor to McKinsey & Company's Asia-Pacific Financial Institution Practice. He has served as a Senior Partner of the firm, and has 25 years of experience of working in consulting to financial institutions. Between 2007 and 2011, he was a Managing Director with Warburg Pincus & Company, a leading Private Equity Firm, responsible for investments in India and financial institutions in relevant Asian markets.

Welcoming Leo Puri to the Board, K. V. Kamath, Chairman said, "Leo Puri is one of the best known leaders of corporate India. He brings enormous value with his vast experience in the consulting field."

About Infosys Ltd

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