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

BANGALORE, India, October 11, 2013 /PRNewswire/ --

Q2 revenues grew by 15.0% year-on-year; 3.8% quarter-on-quarter

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

Financial Highlights

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

Business Highlights

        
        - Revenues were $2,066 million for the quarter ended September 30, 2013
          QoQ growth was 3.8%
          YoY growth was 15.0%
        - Net profit was $383 million for the quarter ended September 30, 2013
          QoQ decline was 8.4%
          YoY decline was 11.1%
        - Earnings per American Depositary Share (EPADS) was $0.67 for the quarter ended
          September 30, 2013 QoQ decline was 8.2%
          YoY decline was 10.7%
          EPADS for the quarter ended September 30, 2013 is $0.73 per share, excluding the
          provision of $35m for visa related matters. EPADS for the quarter is $0.67 per share,
          including the provision of $35m for visa related matters. The difference is $0.06 per
          share.
        - Liquid assets including cash and cash equivalents, available-for-sale
          financial assets, and government bonds were $4.3 billion as on September 30, 2013
          versus $4.1 billion as on June 30, 2013

Other highlights:

        
        - Infosys and its subsidiaries added 68 clients during the quarter
        - Gross addition of 12,168 employees (net addition of 2,964) for the quarter by
          Infosys and its subsidiaries
        - 160,227 employees as on September 30, 2013 for Infosys and its subsidiaries
        - Declared an interim dividend of `20 per ADS (equivalent to an interim dividend
          of $0.32 per ADS, at the prevailing exchange rate of `62.61 per US$). The record date
          for the payment of dividend is October 18, 2013

"During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings. This growth is a result of our focus on execution, which helps our clients achieve their objectives," said S. D. Shibulal, CEO and Managing Director. "We will continue with planned investments and initiatives to explore new avenues of growth. We remain watchful of the sustainability of improving global economic fundamentals," he added.

"The global currency market remains volatile with the Indian Rupee depreciating by 11% during the quarter. We have an active hedging program to minimize its impact on our margins. We will continue our focus on optimizing costs and enhancing the efficiency of our operations," said Rajiv Bansal, Chief Financial Officer.

Outlook

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

Revenues are expected to grow 9% to 10%;

Business Highlights

        
        - We are pursuing and winning large outsourcing deals. Service innovations
          like Global Agile, Virtual Operations and Integrated Application Management continue
          to provide high levels of differentiation for us in the marketplace and have enabled
          wins across industry verticals. We have recently entered into a four-year engagement
          with Toyota Motor Europe to manage its Pan-European application support. This contract
          covers key operational areas including core automotive processes and corporate
          functions, under a managed service model.
        - On the Business Transformation front, we have enhanced our scale in emerging
          markets and our non-linear revenues by leveraging new business models and pricing
          structures. We continue to leverage our alliances and are driving innovation through
          industry leading intellectual property and solutions.
        - We continue to strengthen our competencies in Oracle and SAP practices. We
          have been rated as a leader in Gartner's Magic Quadrant for Oracle Application
          Implementation and Application Management Services, and for SAP Application Management
          services.
        - Our Products and Platforms business continues to grow at a steady pace with 15
          wins this quarter (excluding Finacle(TM)).
        - Finacle(TM) had 18 new wins across South Asia, South East Asia, the Middle
          East, Europe, and Australia-New Zealand this quarter. We launched Finacle 11E, the
          enterprise edition of Finacle(TM) universal banking solution. Finacle 11E is designed
          to simplify banking transformation with enterprise-class components.
        - We are building momentum in the market with our Cloud and Big Data offerings.
          Last quarter, we won over 15 new projects with clients in these segments. We are a
          leader in Cloud services with more than 4,500 Cloud experts, 200 engagements and 35
          partners. This was validated by IDC's recognition of Infosys as a Major Player in its
          IDC MarketScape for Cloud Professional Services.
        - We are engaging with clients to create innovative solutions around the mobile
          device. This quarter we began over 25 different engagements in various areas such as
          Mobile strategy consulting, Mobile field service, customer engagement, and enterprise
          productivity, among others.
        - In the U.S., we are partnering with leading healthcare and public sector
          organizations through Infosys Public Services Inc., to help them deliver
          patient-centric care and mission outcomes. A Blue Cross Blue Shield Plan awarded us a
          three year managed services contract to support its IT operations and provide
          application maintenance and testing services. This will enable the client to optimize
          efficiency and cost while delivering enhanced care and services to members. We have
          also been selected by a multi-state Medicaid/Medicare Plan to implement a solution
          that meets shared member liability management requirements, as mandated for
          participation in health exchanges under the U.S. Affordable Care Act.
        - During the second quarter, Infosys applied for 21 unique patent applications
          in India and the U.S. With this, we have 536 patent applications undergoing various
          stages of patent prosecution in India, the U.S. and other jurisdictions. We have been
          granted 119 patents by the United States Patent and Trademark Office and 3 patents by
          the Luxembourg patent office.

Awards and Recognition

        
        - Infosys topped the 2013 Institutional Investor Rankings among all Indian
          companies across sectors.
        - Finacle(TM) won the prestigious Best Core Banking Technology award in the
          Innovation in Technology and Transaction Banking Awards 2013, organized by The Banker
          (a Financial Times publication).
        - Infosys China was recognized among the '2013 Top 10 Global Services Providers'
          in China at the 5th Annual China Sourcing Summit.
        - Infosys Public Services Inc. has been named in the 'Healthcare's Hottest
          Companies for 2013
          [http://www.modernhealthcare.com/article/... ]
          ' list by Modern Healthcare, a leading
          healthcare publication for senior decision-makers.

About Infosys Ltd

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