Infosys: Second Consecutive Quarter of Double Digit Growth in Constant Currency (4)

Three months ended March 31, 2019 Three months ended March 31, 2018 Year ended March 31, 2019 Year ended March 31, 2018 Revenues 3,060 2,805 11,799 10,939 --- Cost of sales 2,028 1,793 7,687 7,001 --- Gross profit 1,032 1,012 4,112 3,938 --- Operating expenses --- Selling and marketing expenses 174 147 638 552 --- Administrative expenses 200 172 778 727 --- Total operating expenses 374 319 1,416 1,279 --- Operating profit 658 693 2,696 2,659 --- Other income, net (B3) 94 100 411 513 --- Reduction in the fair value of Disposal Group held for sale(A3) (18) (39) (18) --- Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale"(A4) (65) --- Share in net profit/(loss) of associate, including impairment(A2) (11) --- Profit before income taxes 752 775 3,003 3,143 --- Income tax expense(A1)(B4) 171 204 803 657 --- Net profit 581 571 2,200 2,486 --- Other comprehensive income --- Items that will not be reclassified subsequently to profit or loss: --- Re-measurements of the net defined benefit liability/ asset, net 6 (3) 9 --- Equity instruments through other comprehensive income, net 1 10 1 --- Items that will be reclassified subsequently to profit or loss: --- Fair valuation of investments, net 3 (2) --- Fair value changes on derivatives designated as cash flow hedge, net (2) 3 (6) --- Foreign currency translation 74 (164) (560) 18 --- Total other comprehensive income/(loss), net of tax 75 (159) (550) 22 --- Total comprehensive income 656 412 1,650 2,508 --- Profit attributable to: --- Owners of the Company 580 571 2,199 2,486 --- Non-controlling interests 1 1 --- 581 571 2,200 2,486 Total comprehensive income attributable to: --- Owners of the Company 655 412 1,649 2,508 --- Non-controlling interests 1 1 --- 656 412 1,650 2,508 Earnings per equity share (A1) (A5) --- Basic ($) 0.13 0.13 0.51 0.55 --- Diluted ($) 0.13 0.13 0.51 0.55 --- Weighted average equity shares used in computing earnings per equity share( A5) --- Basic 4,347,129,592 4,346,554,120 4,347,130,157 4,510,664,644 --- Diluted 4,353,023,863 4,349,617,024 4,353,420,772 4,515,147,740 ---

NOTES:

A. Notes pertaining to previous quarters / periods

1. 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. 2. During the year ended March 31, 2018, the Company has written down the entire carrying value of $11 million in its associate DWA Nova LLC. 3. In the three months ended March 2018, Kallidus and Skava (together referred to as "Skava") and Panaya, were classified as "Held for Sale" resulting in a reduction in the fair value amounting to $18 million and $39 million in respect of Panaya for the year ended March 31, 2018 and three months ended June 30, 2018, respectively. 4. During the three months ended December 31, 2018, the Company declassified Panaya and Skava from "Held for Sale" and recognized an adjustment in respect of excess of carrying amount over recoverable amount of $65 million in respect of Skava during the year ended March 31, 2019. 5. Share numbers and EPS have been adjusted for September 2018 bonus issue.

B. Notes pertaining to the current quarter

1. The audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the three months and year ended March 31, 2019 have been taken on record at the Board meeting held on April 12, 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 includes $7 million for each of the quarter and year ended March 31, 2019, and $41 million for the year ended March 31, 2018 towards interest on income tax refund. 4. During the quarter ended March 31, 2019, on account of the conclusion of an Advance Pricing Agreement ("APA") in an overseas jurisdiction, the Company has reversed income tax expense provision of $14 million which pertains to previous periods.

IFRS--INR Press Release: https://www.infosys.com/investors/reports-filings/quarterly-... [https://www.infosys.com/investors/reports-filings/quarterly-...] Fact Sheet: https://www.infosys.com/investors/reports-filings/quarterly-... [https://www.infosys.com/investors/reports-filings/quarterly-...]

Logo: https://mma.prnewswire.com/media/633365/... [https://mma.prnewswire.com/media/633365/...]

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