Three months Three months Nine months Nine months ended ended ended ended December 31, December 31, December 31, December 31, 2018 2017 2018 2017 Revenues 2,987 2,755 8,740 8,134 Cost of sales 1,956 1,773 5,660 5,208 Gross profit 1,031 982 3,080 2,926 Operating expenses Selling and marketing expenses 161 136 464 405 Administrative expenses 195 177 578 555 Total operating expenses 356 313 1,042 960 Operating profit 675 669 2,038 1,966 Other income, net(3) 105 149 317 413 Reduction in the fair value of Disposal Group held for sale(4) - - (39) - Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale"(5) (65) - (65) - Share in net profit/(loss) of associate, including impairment(6) - - - (11) Profit before income taxes 715 818 2,251 2,368 Income tax expense(7) 213 22 633 453 Net profit 502 796 1,618 1,915 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Re-measurements of the net defined benefit liability/asset, net (4) 2 (3) 3 Equity instruments through other comprehensive income, net 8 - 10 - Items that will be reclassified subsequently to profit or loss: Fair valuation of investments, net 6 (4) (3) 2 Fair value changes on derivatives designated as cash flow hedge, net 8 1 5 (6) Foreign currency translation 295 229 (634) 182 Total other comprehensive income/(loss), net of tax 313 228 (625) 181 Total comprehensive income 815 1,024 993 2,096 Profit attributable to: Owners of the Company 502 796 1,618 1,915 Non-controlling interests - - - - 502 796 1,618 1,915 Total comprehensive income attributable to: Owners of the Company 815 1,024 993 2,096 Non-controlling interests - - - - 815 1,024 993 2,096 Earnings per equity share(8) Basic ($) 0.12 0.17 0.37 0.42 Diluted ($) 0.12 0.17 0.37 0.42 Weighted average equity shares used in computing earnings per equity share(8) 4,347,673,46 4,564,373,54 Basic 6 4,550,149,608 4,347,130,342 2 4,352,731,38 4,568,574,98 Diluted 7 4,552,763,140 4,352,705,150 4
NOTES:
1) The audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the three months and nine months ended December 31, 2018 have been taken on record at the Board meeting held on January 11, 2019. 2) A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com [http://www.infosys.com ]. 3) Other income for three monthsand nine months ended December 31, 2017 includes interest on income tax refund of $31 million and $41 million respectively. 4) In the three months ended March 2018, Kallidus and Skava (together referred to as "Skava") and Panaya, were classified as "Held for Sale". Consequently, a reduction in the fair value amounting to $18 million and $39 million in respect of Panaya was recognized for the year ended March 31, 2018 and three months ended June 30, 2018, respectively. 5) During the three months ended December 31, 2018, based on evaluation of proposals received and progress of negotiations with potential buyers, the Company concluded that it is no longer highly probable that sale would be consummated by March 31, 2019. Accordingly, Panaya and Skava have been de-classified from "Held for Sale" in accordance with IFRS 5. On such reclassification, the Company recognized additional depreciation and amortization expenses of $12 million and an adjustment in respect of excess of carrying amount over recoverable amount of $65 million in respect of Skava during the three months ended December 31, 2018. 6) During the nine months ended December 31, 2017, the Company has written down the entire carrying value of $11 million in its associate DWA Nova LLC. 7) 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 reversed income tax expense provision of $225 million which pertains to previous periods which are no longer required. 8) Previous period share numbers and EPS have been adjusted for September 2018 bonus issue in accordance with IAS 33, Earnings per share
IFRS-INR press Release: https://www.infosys.com/investors/reports-filings/quarterly-...
Factsheet: https://www.infosys.com/investors/reports-filings/quarterly-...
Photo: https://mma.prnewswire.com/media/633365/...
CONTACT: Contact: 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, +1-71367-06752,Chiku.Somaiya@infosys.com
