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 June 30, 2011 September 30, 2011 and December 31, 2011.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.
Unaudited Condensed Consolidated Interim Financial Statements prepared in compliance with IAS 34, Interim Financial Reporting
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
June 30, 2012 March 31, 2012
ASSETS
Current assets
Cash and cash equivalents $3,242 $4,047
Available-for-sale financial assets 389 6
Investment in certificates of deposit 64 68
Trade receivables 1,240 1,156
Unbilled revenue 362 368
Prepayments and other current assets 315 300
Total current assets 5,612 5,945
Non-current assets
Property, plant and equipment 1,009 1,063
Goodwill 183 195
Intangible assets 32 34
Available-for-sale financial assets 1 2
Investment in government bonds 9 -
Deferred income tax assets 60 62
Income tax assets 189 204
Other non-current assets 21 32
Total non-current assets 1,504 1,592
Total assets $7,116 $7,537
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments $49 $9
Trade payables 7 5
Current income tax liabilities 254 207
Client deposits 2 3
Unearned revenue 139 107
Employee benefit obligations 102 98
Provisions 27 26
Other current liabilities 447 482
Total current liabilities 1,027 937
Non-current liabilities
Deferred income tax liabilities 11 2
Other non-current liabilities 21 22
Total liabilities 1,059 961
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,396,851 and 571,396,401,
net of 2,833,600 treasury shares each as of
June 30, 2012 and March 31, 2012,
respectively 64 64
Share premium 703 703
Retained earnings 6,543 6,509
Other components of equity (1,253) (700)
Total equity attributable to equity holders
of the company 6,057 6,576
Non-controlling interests - -
Total equity 6,057 6,576
Total liabilities and equity $7,116 $7,537
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
Three months Three months
ended June ended June
30, 2012 30, 2011
Revenues $1,752 $1,671
Cost of sales 1,059 1,022
Gross profit 693 649
Operating expenses:
Selling and marketing expenses 86 89
Administrative expenses 118 125
Total operating expenses 204 214
Operating profit 489 435
Other income, net 87 99
Profit before income taxes 576 534
Income tax expense 160 150
Net profit $416 $384
Other comprehensive income
Fair value changes on available - for-sale
financial asset, net of tax effect (1) -
Exchange differences on translating foreign
operations (552) (7)
Total other comprehensive income $(553) $(7)
Total comprehensive income $(137) $377
Profit attributable to:
Owners of the company $416 $384
Non-controlling interest - -
$416 $384
Total comprehensive income attributable to:
Owners of the company $(137) $377
Non-controlling interest - -
$(137) $377
Earnings per equity share
Basic ($) 0.73 0.67
Diluted ($) 0.73 0.67
Weighted average equity shares used in
computing earnings per equity share
Basic 571,396,551 571,333,499
Diluted 571,398,141 571,396,376
NOTE:
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months ended June 30, 2012 has been taken on record at the Board meeting held on July 12, 2012
2. A Fact Sheet providing the operating metrics of the company can be downloaded from http://www.infosys.com
http://multivu.prnewswire.com/infosys/factsheet-q1-2013.pdf
http://multivu.prnewswire.com/infosys/inr-pressrelease-6.pdf
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