Infosys (NYSE: INFY) Announces Results for the Quarter Ended June 30, 2013 (1)

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

Q1 revenues grew by 13.6% year-on-year; 2.7% quarter-on-quarter

Financial Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2013

        
        - Revenues were $1,991 million for the quarter ended June 30, 2013
          QoQ growth was 2.7%
          YoY growth was 13.6%
        - Net profit was $ 418 million for the quarter ended June 30, 2013
          QoQ decline was 5.9%
          YoY growth was 0.5%
        - Earnings per American Depositary Share (EPADS) was $0.73 for the quarter ended
          June 30, 2013 QoQ decline was 6.4%
          YoY unchanged.
        - Liquid assets including cash and cash equivalents, available-for-sale
          financial assets, and government bonds were $4.1 billion versus $4.4 billion as on
          March 31, 2013

(Logo: http://photos.prnewswire.com/prnh/201301... )

Other highlights:

        
        - Infosys and its subsidiaries added 66 clients during the quarter
        - Gross addition of 10,138 employees (net addition of 575) for the quarter by
          Infosys and its subsidiaries
        - 157,263 employees as on June 30, 2013 for Infosys and its subsidiaries

"Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, we have done well in Q1 and are cautiously optimistic about rest of the year," said S. D. Shibulal, CEO and Managing Director.

"We maintained our margins and continued making investments in the business," said Rajiv Bansal, Chief Financial Officer. "We have announced compensation increases for FY 14 effective July which will affect our margins in the future quarters."

Outlook

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

        
        - Revenues are expected to grow 6% to 10%;

Business Highlights

        
        - We continue to see good momentum for our offerings in products and
          platforms space. Over nine clients, across countries have adopted Infosys products and
          platforms (excluding Finacle(TM)).
        - CareFirst BlueCross BlueShield awarded us a three-year managed services
          contract to create a cost-effective delivery model and drive efficiencies in
          application support. Infosys Public Services will set up a secure facility within its
          newly established delivery center in Rockville, Maryland to service the contract and
          help CareFirst to consolidate IT support services currently managed by multiple
          vendors.
        - We announced a partnership with IPsoft to offer autonomics-based managed IT
          service to clients. IPsoft and Infosys will set up an Autonomics Center of Excellence
          and an Autonomics Lab at the Infosys Global Education Center in Mysore. The Center of
          Excellence will focus on developing technical competencies and training of Infosys
          employees; the Lab will develop proofs of concept and design autonomics solutions for
          clients.
        - Our focus on Cloud and Big Data as new growth areas continue to yield results.
          The Cloud and Big Data business has executed over 100 engagements. Over the last
          quarter, Infosys won over 15 engagements across Cloud services and Big Data. Infosys
          was also invited to join the global Open Data Center Alliance (ODCA) as a contributing
          member to help define and strengthen worldwide industry standards to support
          enterprise cloud and big data requirements.
        - Our clients continue to invest in using Mobility as a differentiator in their
          customer engagement, business and operations. Over 25 new engagements across various
          industries and areas like field services, customer engagement and enterprise
          efficiency, were started by us in the last quarter.
        - Finacle(TM) sustained its business momentum in the last quarter with 15 new
          wins and 14 banks going live on Finacle(TM) across the Middle East, Africa, Asia and
          Central America. This includes the first Finacle(TM) customer in Mongolia and the
          first successful core banking implementation in recent times in Turkey.
        - During the first quarter, Infosys applied for 18 unique patent applications in
          India and the U.S. With this, it has 528 patent applications undergoing various stages
          in the patent approval process in India, the U.S. and other jurisdictions, has been
          granted 106 patents by the United States Patent and Trademark Office and three patents
          by the Luxembourg patent office.

Awards and Recognition

Infosys has been consistently honored by influencers

        
        - Infosys won the IBM Smarter Commerce Business Partner of the Year Award
          for Australia and New Zealand.
        - The Infosys Engineering Services team emerged as a winner in the 2013
          Simulating Reality contest, organized by MSC Software, for its use of next-generation
          technologies for innovation in the area of engineering design.
        - CorpU, a leading talent development insight and education provider in the
          United States, recognized the Connect Architecture program by Infosys as an
          "Exemplary" practice during the 14th annual CorpU Learning Excellence and Innovation
          Awards.
        - We were named the '2013 Environmental Tracking (ET) Carbon Ranking Leader' for
          our greenhouse gas emissions and disclosure practices.
        - British Telecom's Seamless Desktop program powered by the Infosys AssistEdge
          was awarded the prestigious Global Telecoms Business Innovation Award for 2013 in the
          Consumer Service Innovation category.
        - Infosys Public Services was ranked 15th in the 2013 Healthcare Informatics
          100, based on revenues from healthcare IT products and services.
        - Finacle(TM) won the XCelent Depth of Service award in the Mobile Banking space
          in an assessment of 20 global vendors by Celent.
        - The Metro Atlanta Chamber presented the 2013 Global Impact Award to Infosys
          BPO in the Foreign Direct Investment category for its plans to invest in education and
          training.
        - The 2013 Outstanding 50 Asian Americans in Business Award recognized Ashok
          Vemuri, Member of the Board, Head of Americas and Global Head of Manufacturing &
          Engineering, Infosys for his exemplary business leadership, vision for growth and his
          role in directing the Infosys Foundation activities in the US.

About Infosys Ltd

Infosys [http://www.infosys.com/Pages/index.aspx ] is a global leader in business consulting and technology solutions. As a proven partner focused on building tomorrow's enterprise, Infosys enables clients in more than 30 countries to outperform the competition and stay ahead of the innovation curve.

Ranked in the top tier of Forbes' 100 most innovative companies, Infosys - with $7.4B in annual revenues and 150,000+ employees - provides enterprises with strategic insights on what lies ahead. We help enterprises transform and thrive in a changing world through strategic consulting, operational leadership and the co-creation of breakthrough solutions, including those in mobility, sustainability, big data and cloud computing.

Visit http://www.infosys.com [http://www.infosys.com/Pages/index.aspx ] to see how Infosys is Building Tomorrow's Enterprise(R) today.

Safe Harbor

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