Three months Three months Nine months Nine months ended ended ended ended December 31, December 31, December 31, December 31, 2017 2016 2017 2016 Revenues 2,755 2,551 8,134 7,639 Cost of sales 1,773 1,601 5,208 4,832 Gross profit 982 950 2,926 2,807 Operating expenses: Selling and marketing expenses 136 131 405 402 Administrative expenses 177 179 555 519 Total operating expenses 313 310 960 921 Operating profit 669 640 1,966 1,886 Other income, net 149 121 413 347 Share in associate's profit / (loss) - - - (1) Write-down of investment in associate - - (11) - Profit before income taxes 818 761 2,368 2,232 Income tax expense 22 214 453 635 Net profit 796 547 1,915 1,597 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Re-measurements of the net defined benefit liability/asset 2 (1) 3 (10) Cumulative impact on reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 - - - (5) Equity instruments through other comprehensive income, net - - - - Items that will be reclassified subsequently to profit or loss: Fair valuation of investments, net (4) - 2 - Fair value changes on derivatives designated as cash flow hedge, net 1 4 (6) 4 Foreign currency translation 229 (189) 182 (243) Total other comprehensive income, net of tax 228 (186) 181 (254) Total comprehensive income 1,024 361 2,096 1,343 Profit attributable to: Owners of the Company 796 547 1,915 1,597 Non-controlling interests - - - - 796 547 1,915 1,597 Total comprehensive income attributable to: Owners of the Company 1,024 361 2,096 1,343 Non-controlling interests - - - - 1,024 361 2,096 1,343 Earnings per equity share Basic ($) 0.35 0.24 0.84 0.70 Diluted ($) 0.35 0.24 0.84 0.70 Weighted average equity shares used in computing earnings per equity share Basic 2,275,074,804 2,285,651,730 2,282,186,771 2,285,638,678 Diluted 2,276,381,570 2,286,229,042 2,284,287,492 2,286,076,462
NOTES:
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months and nine months ended December 31, 2017 have been taken on record at the Board meeting held on January 12, 2018
2. A Fact Sheet providing the operating metrics of the company can be downloaded from http://www.infosys.com
3. Other income for three months and nine months ended December 31, 2017 includes interest on income tax refund of $ 31 million and $ 41 million respectively
4. During the quarter ended December 31, 2017, on account of the conclusion of an Advance Pricing Agreement ("APA") with the U.S. Internal Revenue Service ("IRS"), the Company has in accordance with the APA, reversed income tax expense provision of $ 225 million which pertains to previous periods which are no longer required. Consequently, profit for the period has increased and therefore has led to an increase in Basic earnings per equity share by $0.10 for quarter ended December 31, 2017 and $0.09 for nine months ended December 31, 2017
5. During the quarter ended June 30, 2017, the Company has written down the entire carrying value of the investment in its associate DWA Nova LLC, an Infosys Innovation Fund Investment. The impact of write down on Q1 18 net profit is $ 11 million
IFRS-INR Press Release: https://www.infosys.com/investors/reports-filings/quarterly-...
Fact Sheet: https://www.infosys.com/investors/reports-filings/quarterly-...
Contacts Investor Relations Sandeep Mahindroo +91-80-3980-1018 Sandeep_Mahindroo@infosys.com Media Relations Sarah Vanita Gideon +91-80-4156-3998 Sarah_Gideon@infosys.com Chiku Somaiya +1-7136706752 Chiku.Somaiya@infosys.com
Photo: http://mma.prnewswire.com/media/610722/I...
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