Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarter ended December 31, 2011, June 30, 2012 and September 30, 2012. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
INR Press Release: http://www.multivu.prnewswire.com/mnr/prne/operations/INR-pr...
Fact Sheet: http://www.multivu.prnewswire.com/mnr/pr...
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
December 31, March 31,
2012 2012
ASSETS
Current assets
Cash and cash equivalents $2,740 $4,047
Available-for-sale financial assets 1,339 6
Investment in certificates of deposit - 68
Trade receivables 1,266 1,156
Unbilled revenue 405 368
Prepayments and other current assets 335 300
Total current assets 6,085 5,945
Non-current assets
Property, plant and equipment 1,115 1,063
Goodwill 368 195
Intangible assets 72 34
Available-for-sale financial assets 2 2
Investment in government bonds 12 -
Deferred income tax assets 77 62
Income tax assets 191 204
Other non-current assets 33 32
Total non-current assets 1,870 1,592
Total assets $7955 $7,537
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments - $9
Trade payables 13 5
Current income tax liabilities 227 207
Client deposits 12 3
Unearned revenue 146 107
Employee benefit obligations 109 98
Provisions 39 26
Other current liabilities 562 482
Total current liabilities 1,108 937
Non-current liabilities
Deferred income tax liabilities 16 2
Other non-current liabilities 18 22
Total liabilities 1,142 961
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,402,566 and 571,396,410,
net of 2,833,600 treasury shares each as of
December 31, 2012 and March 31, 2012,
respectively 64 64
Share premium 704 703
Retained earnings 7,223 6,509
Other components of equity (1,178) (700)
Total equity attributable to equity holders
of the company 6,813 6,576
Non-controlling interests - -
Total equity 6,813 6,576
Total liabilities and equity $7,955 $7,537
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
Three Three Nine Nine
months months months months
ended ended ended ended
December December December December
31, 2012 31, 2011 31, 2012 31, 2011
Revenues $1,911 $1,806 $5,460 $5,233
Cost of sales 1,203 1030 3,376 3,077
Gross profit 708 776 2,084 2,146
Operating expenses:
Selling and marketing
expenses 99 88 277 275
Administrative expenses 118 128 355 386
Total operating expenses 217 216 632 661
Operating profit 491 560 1,452 1,485
Other income, net 92 82 308 266
Profit before income taxes 583 642 1,760 1,751
Income tax expense 149 184 479 498
Net profit $434 $458 $1,281 $1,253
Other comprehensive income
Fair value changes on
available - for-sale
financial asset, net of
tax effect - - - $(2)
Exchange differences on
translating foreign
operations (250) (442) (478) (1,004)
Total other comprehensive
income $(250) $(442) $(478) $(1,006)
Total comprehensive income $184 $16 $803 $247
Profit attributable to:
Owners of the company $434 $458 $1,281 $1,253
Non-controlling interests - - - -
$434 $458 $1,281 $1,253
Total comprehensive income
attributable to:
Owners of the company $184 $16 $803 $247
Non-controlling interests - - - -
$184 $16 $803 $247
Earnings per equity share
Basic ($) 0.76 0.80 2.24 2.19
Diluted ($) 0.76 0.80 2.24 2.19
Weighted average equity
shares used in computing
earnings per equity share
Basic 571,400,086 571,377,084 571,398,129 571,356,602
Diluted 571,400,417 571,396,560 571,399,018 571,394,949
NOTE:
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months and nine months ended December 31, 2012 has been taken on record at the Board meeting held on January 11, 11 Ene. (CONTINUA) -
