December March 31,
31, 2013 2013
ASSETS
Current assets
Cash and cash equivalents $ 3,712 $4,021
Available-for-sale financial assets 418 320
Investment in certificates of deposit 106 -
Trade receivables 1,447 1,305
Unbilled revenue 423 449
Derivative financial instruments - 19
Prepayments and other current assets 428 391
Total current assets 6,534 6,505
Non-current assets
Property, plant and equipment 1,202 1,191
Goodwill 354 364
Intangible assets 60 68
Available-for-sale financial assets 203 72
Deferred income tax assets 98 94
Income tax assets 241 201
Other non-current assets 41 44
Total non-current assets 2,199 2,034
Total assets $8,733 $8,539
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments $16 -
Trade payables 29 35
Current income tax liabilities 318 245
Client deposits 7 6
Unearned revenue 142 152
Employee benefit obligations 148 113
Provisions 49 39
Other current liabilities 733 568
Total current liabilities 1,442 1,158
Non-current liabilities
Deferred income tax liabilities 11 23
Other non-current liabilities 49 27
Total liabilities 1,502 1,208
Equity
Share capital - `5 ($0.16) par value 600,000,000 equity
shares authorized, issued and outstanding 571,402,566 each,
net of 2,833,600 treasury shares each as of December 31,
2013 and March 31, 2013, respectively 64 64
Share premium 704 704
Retained earnings 8,405 7,666
Other components of equity (1,942) (1,103)
Total equity attributable to equity holders of the company 7,231 7,331
Non-controlling interests - -
Total equity 7,231 7,331
Total liabilities and equity $8,733 $8,539
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, 2013 31, 2012 31, 2013 31, 2012
Revenues $2,100 $1,911 $6,157 $5,460
Cost of sales 1,341 1,203 3,974 3,376
Gross profit 759 708 2,183 2,084
Operating expenses:
Selling and marketing
expenses 104 99 327 277
Administrative expenses* 129 118 411 355
Total operating expenses 233 217 738 632
Operating profit 526 491 1,445 1,452
Other income, net 117 92 301 308
Profit before income taxes 643 583 1,746 1,760
Income tax expense 180 149 482 479
Net profit $463 $434 $1,264 $1,281
Other comprehensive income
Items that will not be
reclassified to profit or loss:
Re-measurement of the net
defined benefit liability/(asset) 4 - 10 -
Items that may be
reclassified subsequently
to profit or loss:
Fair value changes on
available-for-sale
financial asset, net of
tax effect (10) - (14) -
Exchange differences on
translating foreign operations 91 (250) (844) (478)
Total other comprehensive income $85 ($250) ($848) ($478)
Total comprehensive income $548 $184 $416 $803
Profit attributable to:
Owners of the company $463 $434 $1,264 $1,281
Non-controlling interests - - - -
$463 $434 $1,264 $1,281
Total comprehensive income
attributable to:
Owners of the company $548 $184 $416 $803
Non-controlling interests - - - -
$548 $184 $416 $803
Earnings per equity share
Basic ($) 0.81 0.76 2.21 2.24
Diluted ($) 0.81 0.76 2.21 2.24
Weighted average equity
shares used in computing
earnings per equity share
Basic 571,402,566 571,400,086 571,402,566 571,398,129
Diluted 571,402,566 571,400,417 571,402,566 571,399,018
(*) Administrative expenses for nine months ended December 31, 2013 include a charge of $ 35 million towards visa related matters.
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, 2013 have been taken on record at the Board meeting held on January 10, 2014
2. A Fact Sheet providing the operating metrics of the company can be downloaded from http://www.infosys.com
Fact Sheet: http://multivu.prnewswire.com/mnr/prne/operations/Fact-Sheet...
INR Press Release: http://multivu.prnewswire.com/mnr/prne/operations/INR-Press-...
Contact
Investor Relations
Gargi Ray
+91-80-4116-7747
gargi_ray@infosys.com
Sandeep Mahindroo
+91-80-3980-1018
Sandeep_Mahindroo@infosys.com
Media Relations
Sarah Vanita Gideon, India
+91-80-4156-3373
Sarah_Gideon@Infosys.com
Ken Montgomery, Golin Harris for Infosys, US
+1-415-318-4399
KMontgomery@GolinHarris.com
Photo:
http://photos.prnewswire.com/prnh/201301...
