Date post: | 17-Jul-2016 |
Category: |
Documents |
Upload: | shyam-sunder |
View: | 214 times |
Download: | 1 times |
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 1 of 6
Statement of Comprehensive Income for three months ended,
(As per IFRS) In` crore, except share data
Particulars
Jun 30, Growth % Q1 16 over
Q1 15
Mar 31, 2015 Growth % Q1 16 over
Q4 15 2015 2014
Revenues 14,354 12,770 12.4 13,411 7.0
Cost of sales 9,123 8,046 13.4 8,174 11.6
Gross Profit 5,231 4,724 10.7 5,237 (0.1)
Operating Expenses:
Selling and marketing expenses 820 666 23.1 736 11.4
Administrative expenses 964 847 13.8 1,052 (8.4)
Total Operating Expenses 1,784 1,513 17.9 1,788 (0.2)
Operating Profit 3,447 3,211 7.3 3,449 (0.1)
Other Income, net 758 829 (8.6) 881 (14.0)
Share in associate's profit/(loss) - - - (1) (100.0)
Profit before income taxes 4,205 4,040 4.1 4,329 (2.8)
Income tax expense 1,175 1,154 1.8 1,232 (4.6)
Net Profit 3,030 2,886 5.0 3,097 (2.1)
Earnings per equity share
Basic (`) 13.26 12.63 5.0 13.55 (2.1)
Diluted (`) 13.26 12.63 5.0 13.55 (2.1)
Note – Previous period EPS numbers have been restated due to issue of bonus shares in Dec-14 and Jun-15
Statement of Comprehensive Income for three months ended,
(As per IFRS) In US $ million, except share data
Particulars
Jun 30, Growth % Q1 16 over
Q1 15
Mar 31, 2015 Growth % Q1 16 over
Q4 15 2015 2014
Revenues 2,256 2,133 5.7 2,159 4.5
Cost of sales 1,434 1,344 6.7 1,317 8.9
Gross Profit 822 789 4.1 842 (2.5)
Operating Expenses:
Selling and marketing expenses 129 111 16.2 118 9.3
Administrative expenses 152 142 7.0 169 (10.1)
Total Operating Expenses 281 253 11.1 287 (2.1)
Operating Profit 541 536 0.9 555 (2.4)
Other Income, net 119 139 (14.4) 141 (15.6)
Share in associate's profit/(loss) - - - - -
Profit before income taxes 660 675 (2.2) 696 (5.1)
Income tax expense 184 193 (4.7) 198 (7.1)
Net Profit 476 482 (1.3) 498 (4.5)
Earnings per equity share
Basic ($) 0.21 0.21 (1.3) 0.22 (4.5)
Diluted ($) 0.21 0.21 (1.3) 0.22 (4.5)
Note – Previous period EPS numbers have been restated due to issue of bonus shares in Dec-14 and Jun-15
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 2 of 6
Revenues by Geographical Segment
(In %)
Quarter ended LTM
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Jun 30, 2015 Jun 30, 2014
North America 63.2 62.8 60.8 62.1 60.5
Europe 22.4 23.1 24.5 23.6 24.6
India 2.2 2.5 2.4 2.4 2.6
Rest of the world 12.2 11.6 12.3 11.9 12.3
Total 100.0 100.0 100.0 100.0 100.0
Revenues by Service Offering
(in %)
Quarter ended LTM
Jun 30, 2015
Mar 31, 2015
Jun 30, 2014
Jun 30, 2015
Jun 30, 2014
Business IT Services 62.3 62.3 62.9 62.6 62.0
Application Development 14.0 14.3 15.8 14.8 15.8
Application Maintenance 19.9 19.7 18.7 19.5 19.1
Infrastructure Management Services 8.3 8.1 7.9 8.1 7.3
Testing Services 8.9 8.9 9.5 9.1 9.0
Product Engineering Services 3.5 3.5 3.4 3.5 3.3
Business Process Management 5.0 5.3 5.3 5.2 5.3
Others 2.7 2.5 2.3 2.4 2.2
Consulting, Package Implementation & Others 32.8 32.7 32.3 32.6 32.9
Products, Platforms and Solutions 4.9 5.0 4.8 4.8 5.1
Products 3.2 3.4 3.2 3.1 3.5
BPM Platform 1.0 1.0 1.2 1.1 1.2
Others 0.7 0.6 0.4 0.6 0.4
Total 100.0 100.0 100.0 100.0 100.0
Revenues by Project Type *
(in %)
Quarter ended LTM
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Jun 30, 2015 Jun 30, 2014
Fixed Price 42.4 43.8 40.1 42.6 40.7
Time & Materials 57.6 56.2 59.9 57.4 59.3
Total 100.0 100.0 100.0 100.0 100.0
* Excluding products
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 3 of 6
Revenues by Industry
(in %)
Quarter ended LTM
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Jun 30, 2015 Jun 30, 2014
Banking & Financial Services, Insurance
33.1 33.6 33.4 33.2 33.5
Banking & financial services 27.1 27.2 27.4 27.0 27.3
Insurance 6.0 6.4 6.0 6.2 6.2
Manufacturing 24.0 23.8 23.2 23.6 23.0
Retail & Life Sciences 24.1 23.5 23.8 23.6 24.1
Retail & CPG 15.0 15.1 15.8 15.1 15.8
Transport & Logistics 1.5 1.6 1.5 1.5 1.6
Life Sciences 5.6 5.1 4.6 5.1 4.7
Healthcare 2.0 1.7 1.9 1.9 2.0
Energy, Utilities, Communications & Services
18.8 19.1 19.6 19.6 19.4
Energy & Utilities 4.2 4.5 5.1 4.8 5.1
Telecom 8.4 8.3 8.7 8.6 8.4
Others 6.2 6.3 5.8 6.2 5.9
Total 100.0 100.0 100.0 100.0 100.0
Client Data
Quarter ended Year ended
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Mar 31, 2015 Mar 31, 2014
Number of Clients
Active 987 950 910 950 890
Added during the period (gross) 79 52 61 221 238
Number of million dollar clients*
1 Million dollar + 535 529 520 529 501
5 Million dollar + 248 244 235 244 232
10 Million dollar + 161 159 148 159 148
25 Million dollar + 83 83 78 83 78
50 Million dollar + 49 47 43 47 42
75 Million dollar + 28 29 24 29 24
100 Million dollar + 14 15 12 15 13
200 Million dollar + 6 4 3 4 3
300 Million dollar + 1 - 1 - 1
Client contribution to revenues
Top client 3.7% 3.5% 3.4% 3.3% 3.8%
Top 5 clients 14.0% 13.9% 13.7% 13.5% 14.4%
Top 10 clients 23.0% 22.7% 22.9% 22.7% 23.8%
Repeat business 98.4% 96.6% 99.0% 97.8% 97.7%
Days Sales Outstanding 68 65 66 65 62
*LTM (Last twelve months) Revenues
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 4 of 6
Effort and Utilization - Consolidated IT Services
(in %)
Quarter ended LTM
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Jun 30, 2015 Jun 30, 2014
Effort
Onsite 29.2 28.9 29.2 28.8 29.9
Offshore 70.8 71.1 70.8 71.2 70.1
Revenues
Onsite 56.1 55.2 54.5 55.2 55.2
Offshore 43.9 44.8 45.5 44.8 44.8
Utilization
Including trainees 75.7 72.8 74.8 74.9 73.3
Excluding trainees 80.2 78.6 80.1 80.9 77.8
Person Months Data - Consolidated IT Services
Quarter ended LTM
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Jun 30, 2015 Jun 30, 2014
Billed – Onsite 91,424 85,746 80,066 342,078 319,926
– Offshore 221,449 211,045 193,980 844,100 748,712
TOTAL 312,873 296,791 274,046 1,186,178 1,068,638
Non Billable 77,465 81,011 68,098 280,782 304,994
Trainee 22,794 29,658 24,413 117,505 84,260
Sales & Support 24,874 23,644 22,344 94,402 90,602
TOTAL 438,006 431,104 388,901 1,678,867 1,548,494
Consolidated IT Services
Quarter ended LTM
Jun 30,
2015 Sequential
growth % Mar 31,
2015 Sequential
growth % Jun 30,
2014 Sequential
growth % Jun 30,
2015
Year on
Year growth
%
Jun 30, 2014
Year on
Year growth
%
Effort - (Person months)
Onsite 91,424 6.6 85,746 2.1 80,066 2.2 342,078 6.9 319,926 5.5
Offshore 221,449 4.9 211,045 0.4 193,980 3.2 844,100 12.7 748,712 11.0
Total 312,873 5.4 296,791 0.9 274,046 2.9 1,186,178 11.0 1,068,638 9.3
Revenues – ($ million)
Onsite 1,143.54 6.3 1,075.98 (2.3) 1,050.43 2.1 4,411.26 5.7 4,171.79 8.3
Offshore 896.22 2.6 873.36 (3.8) 876.16 3.0 3,583.73 6.0 3,380.14 12.2
Total 2,039.76 4.6 1,949.34 (3.0) 1,926.59 2.5 7,994.99 5.9 7,551.93 10.0
Revenue per FTE
(In US $ K)
Quarter ended Year Ended
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Mar 31, 2015 Mar 31, 2014
Revenue per FTE - Consolidated 51.7 52.3 52.6 52.3 51.9
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 5 of 6
Employee Metrics
(Nos.)
Quarter ended Year ended
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Mar 31, 2015 Mar 31, 2014
Total employees 1,79,523 1,76,187 1,61,284 1,76,187 1,60,405
S/W professionals 1,68,583 1,66,046 1,51,848 1,66,046 1,51,059
Billable 1,58,025 1,54,504 137,038 1,54,504 1,37,391
Banking product group 5,515 5,357 5,721 5,357 6,254
Trainees 5,043 6,185 9,089 6,185 7,414
Sales & Support 10,940 10,141 9,436 10,141 9,346
Gross addition 11,889 14,471 11,506 53,386 39,985
Of which lateral addition 5,886 8,334 3,954 23,156 12,247
Attrition 8,553 7,922 10,627 37,604 36,268
Net addition 3,336 6,549 879 15,782 3,717
Attrition % (Annualized standalone) 14.2% 13.4% 23.4% 18.9% 18.7%
Attrition % (Annualized consolidated) 19.2% 18.3% 26.4% 22.3% 22.9%
Infrastructure (as on Jun 30, 2015)
Completed Work in progress Land acquired during the
Quarter (acres)
Built-up area (Sq. Ft.)
No. of seats Built-up area (Sq. Ft.)
No. of seats
Bangalore 50,82,350 34,330 288,000 1,745 5.4
Bhubaneswar 10,54,403 4,974 8,40,511 3,786 -
Chandigarh 11,93,052 6,525 - - -
Chennai 42,75,136 25,080 - - -
Delhi - NCR 1,28,043 988 1,50,174 1,000 -
Hyderabad 49,24,082 25,871 1,68,809 - -
Jaipur 3,74,139 3,400 4,04,106 4,000 -
Mangalore 19,45,636 6,902 6,04,000 4,800 -
Mysore (including ILI)* 1,15,37,626 15,618 5,46,000 5,000 -
Pune 62,47,705 36,802 4,44,323 - -
Thiruvananthapuram 20,31,866 7,589 5,76,365 4,894 -
Global Centers
2,008,452 18,293 810,658 4,500 -
Total 4,08,02,490 1,86,372 48,32,946 29,725 5.4
*Infosys Leadership Institute
Rupee Dollar Rate ( ` )
Quarter ended Year ended
Jun 30, 2015 Mar 31, 2015 Jun 30, 2014 Mar 31, 2015 Mar 31, 2014
Period closing rate 63.65 62.50 60.18 62.50 59.92
Period average rate 63.63 62.08 59.85 61.18 60.75
Fact Sheet
Consolidated Financial Data - First Quarter, Fiscal 2016
www.infosys.com
Page 6 of 6
Constant Currency Reporting
Reported revenues Q1 16 Q4 15 Q3 15 Q2 15 Q1 15
Revenues ($ mn) 2,256 2,159 2,218 2,201 2,133
Sequential growth % 4.5 (2.6) 0.8 3.1 2.0
YoY growth % 5.7 3.2 5.6 6.5 7.1
Constant currency – Q o Q Q1 16 Q4 15 Q3 15 Q2 15 Q1 15
Revenues ($ mn) 2,254 2,208 2,258 2,217 2,124
Sequential growth (%) 4.4 (0.4) 2.6 3.9 1.5
Constant currency – Y o Y Q1 16 Q4 15 Q3 15 Q2 15 Q1 15
Revenues ($ mn) 2,365 2,256 2,265 2,197 2,123
YoY growth (%) 10.9 7.8 7.9 6.3 6.6
Notes:
Basis of computation
1. Foreign exchange rates are as per FEDAI.
2. Average rates for major global currencies:
Average rate of USD Q1 16 FY 15 Q4 15 Q3 15 Q2 15 Q1 15
AUD 0.78 0.87 0.78 0.85 0.92 0.93
EURO 1.11 1.26 1.11 1.25 1.32 1.37
GBP 1.55 1.61 1.51 1.58 1.66 1.69
3. Proportion of revenues from major global currencies:
Revenue by currency (%) Q1 16 FY 15 Q4 15 Q3 15 Q2 15 Q1 15
AUD 7.3 7.6 6.6 7.4 8.2 8.2
EURO 8.9 10.2 9.4 10.3 10.4 10.6
GBP 6.3 5.9 5.9 5.8 5.9 5.8
Q1 2016 Geographical segment – growth
North America grew by 5.1% sequentially; and 5.1% in constant currency
Europe grew by 1.2% sequentially; and 0.7% in constant currency
India declined by 6.2% sequentially; and 4.3% in constant currency
Rest of the world grew by 9.7% sequentially; and 9.9 % in constant currency
Industry segment – growth
FSI grew by 2.8% sequentially; and 2.6% in constant currency
MFG grew by 5.4% sequentially; and 5.5% in constant currency
RCL grew by 7.3% sequentially; and 7.3% in constant currency
ECS grew by 2.6% sequentially; and 2.5% in constant currency
IFRS – INR
Press Release
Infosys Limited – Press Release Page 1 of 8
Infosys (NSE, BSE: INFY) Announces Results for the Quarter ended June 30, 2015
Q1 revenue growth at 7.0% QoQ, highest in 15 quarters *
Volume growth at 5.4% QoQ, highest in 19 quarters
Gross client addition at 79
Largest client crosses $ 300 mn; added 2 clients in $ 200 mn bucket
6 large deals signed in Q1 with TCV of $ 688 mn
Quarterly annualized attrition for Infosys Limited at 14.2% compared to 23.4% in Q1
15
FY 16 revenue guidance retained at 10%-12% in constant currency
*in USD terms excluding acquisitions
Bangalore, India – July 21, 2015
Financial Highlights
Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended June 30,
2015
Quarter ended June 30, 2015
Revenues were `14,354 crore for the quarter ended June 30, 2015 QoQ growth was 7.0% YoY growth was 12.4%
Net profit was `3,030 crore for the quarter ended June 30, 2015 QoQ decline was 2.1% YoY growth was 5.0%
Earnings per share (EPS) was `13.26 for the quarter ended June 30, 2015 QoQ decline was 2.1%
YoY growth was 5.0%
Liquid assets including cash and cash equivalents, available-for-sale financial assets and government
bonds were `30,235 crore as on June 30, 2015 as compared to `32,585 crore as on March 31, 2015
Infosys spent `45 crore in Q1, towards Corporate Social Responsibility (CSR) which is primarily being
carried out through the Infosys Foundation, its philanthropic arm. The Infosys Foundation is engaged
in several programs aimed at alleviating hunger, promoting education, computing literacy, improving
health, assisting rural development, supporting arts and helping the destitute
Other Q1 Highlights
Volume growth of 5.4%
6 large deals signed with TCV of $ 688 mn
Added 79 clients
Utilization (excluding trainees) expanded 160 bps to 80.2%
Quarterly annualized attrition for Infosys Limited at 14.2% compared to 23.4% in Q1 15
IFRS – INR
Press Release
Infosys Limited – Press Release Page 2 of 8
“I am very pleased with our performance in the first quarter. Our efforts in redesigning our clients’ experience
and our widespread adoption of innovation, both in grassroots and breakthroughs, are starting to bear fruit in
large deal wins and in the growth of large clients”, said Dr. Vishal Sikka, CEO and MD. “While we are still early
in our journey to become the leading next-generation services company, this gives us good momentum for the
rest of the year.”
“The organization realignment made earlier this year for deeper client and operational focus has resulted in
strong volume growth”, said Mr. U. B. Pravin Rao, COO. “We continued the roll out of employee engagement
initiatives around collaboration and simplification of internal processes in order to retain the industry’s best
talent.”
“We are operating within our stated margin band, balancing strategic investments and client focus with
operational efficiencies”, said Rajiv Bansal, CFO. “Pricing environment is competitive which we are addressing
through automation and improvement in productivity.”
Outlook*
The Company’s outlook (consolidated) for the fiscal year ending March 31, 2016, under IFRS is as follows:
Revenues are expected to grow 10%-12% in constant currency;
Revenues are expected to grow 11.5%-13.5% in INR terms
*Conversion: 1 US$ = `63.65 for rest of the fiscal 2016
Business Highlights
We made significant client additions this quarter, including six large deals, each greater than USD$50 million in
total contract value. We continue to focus on strengthening client relationships and delivering new and
innovative solutions.
Client wins
This quarter, we signed a multi-year agreement with Deutsche Bank encompassing bespoke
development, application maintenance services, digital and mobility services, package implementation,
and testing services. We are now a strategic partner under Deutsche Bank’s Supplier Partnership
Program.
Kim Hammonds, Global Chief Information Officer, Deutsche Bank said, “Deutsche Bank is
committed to applying innovative technology to enhance its efficiency and service to clients. Working
with Infosys will help the bank achieve these goals.”
We were selected as a strategic partner by Allied Irish Banks, p.l.c. (AIB), a financial services group
operating predominantly in the Republic of Ireland and the U.K. As part of this engagement, Infosys will
provide application development and management services, along with transformation and innovation
services. We will also set up a 200-seat facility in Dublin to house the staff who will be transferred from
AIB.
We have won a multi-year contract with ServiceFirst, an internal shared service of the Australian State
of New South Wales organization. The total commercial value of the deal is US $76 million and will
include BPO and SAP services.
This quarter, we completed the implementation of Infosys Smart Oilfield Services Solution for SAP ERP
at FTS International (FTSI), the largest private well completion company in North America. This will
enable the company to achieve a significant milestone in its strategic business transformation. Within
14 months, we helped FTSI implement 15 SAP modules across 20 locations for over 1,400 users, thus
enabling the company to improve operating metrics and to leverage an upgraded IT platform for future
growth.
IFRS – INR
Press Release
Infosys Limited – Press Release Page 3 of 8
FTSI Chief Information Officer and Chief HR Officer Sharon S. Stufflebeme said, “Infosys’
tremendous footprint, level of expertise in SAP deployment, ability to work with both IT and business
teams as well as its oil and gas experience made it the perfect partner for us in this important milestone
in our strategic business transformation.”
NBTY Inc., a global manufacturer, marketer, distributor and retailer of market-leading vitamins and
nutritional supplements entered into a multi-year partnership with us. As part of this agreement, we will
provide development and support services for NBTY’s IT systems including enterprise-wide application
development and maintenance services.
Andrea Simone, Sr. Vice President & Global CIO, NBTY Inc. said, “We are creating a global, world-
class IT architecture that will provide competitive advantage to NBTY in continuously driving profitable
growth. We selected Infosys as a strategic partner to provide next-generation application services and
to work with us on transformation initiatives that are expected to drive business and IT innovation.”
A global luxury fashion retailer has chosen us as its preferred global IT partner. We will drive efficiencies
and value by implementing a global IT shared services model and a client offshore delivery center to
support all regions.
A global mining company engaged us to streamline its finance and procurement process outsourcing,
as well as end-to-end IT services management including service desk, infrastructure and application
management.
A leading office equipment major selected us as its strategic partner for application development and
maintenance, testing and product implementation.
Platforms
To date we have had more than 127 client engagements where the Infosys Information Platform has been used
and have completed 16 pilot programs using this platform. We are encouraged by the traction we are seeing
with Panaya post the acquisition, and have won 15 new deals across different industries through our joint
offerings.
A European logistics company selected the Infosys Information platform to deliver near real-time data-based
tracking and reporting of operational metrics and project business volumes for capacity planning.
We won a project from a global pharmaceutical company to develop a predictive equipment maintenance
process based on equipment operating conditions and maintenance history information using the capabilities
of the Infosys Information Platform.
Another pharmaceutical company engaged us to develop a big data and analytics technology platform
architecture. The client also implemented the Infosys Information Platform to deliver on a range of operational
reporting in areas such as supply chain and inventory management using data from source systems such as
SAP.
Products
This quarter, the shareholders authorized the transfer of business of Finacle and Edge Services to EdgeVerve
with effect from August 1, 2015 or such other date as may be decided by the Board, for a consideration of upto
` 3,400 crore and upto ` 220 crore respectively. EdgeVerve Systems is a wholly-owned subsidiary of Infosys.
EdgeVerve
EdgeVerve saw a great beginning to the year with 14 wins and 4 client go-lives.
A large consumer health and medical devices company selected ProcureEdge to power its source-to-
settle transformation. ProcureEdge will be implemented worldwide by the client to bring transformation
and savings across its buying organization. A large European telecom company expanded its use of
AssistEdge to include over 5,000 operators in its call centres, enabling them to simplify and automate
business processes by integrating multiple disparate systems; thereby reducing call handling time and
IFRS – INR
Press Release
Infosys Limited – Press Release Page 4 of 8
improving customer service. AssistEdge is also providing analytics-based insights to help the client
proactively allocate resources and take preventive steps to manage issues.
Finacle
This quarter, Finacle sustained strong business momentum with 19 wins and 12 go-lives across the
globe. Wins in the quarter included Corporation Bank and Indian Overseas Bank, both of which opted
for our industry leading core banking solution. Building on last quarter’s success with Qantas Credit
Union, Finacle also added another client in Australia for digital transformation.
Finacle continued to expand its solutions suite with three new offerings - Finacle Assure, Finacle Youth
Banking solution and Finacle SME Enable. Finacle also extended its partnership with Microsoft Corp
making its suite of solutions available on Microsoft Azure cloud.
Acquisitions, Investments and Partnerships
This quarter, we completed the acquisition of Kallidus Inc. (d.b.a Skava) and its affiliate, a leading
provider of digital experience solutions, including mobile commerce and in-store shopping experiences
to large retail clients. The acquisition of Skava is part of Infosys’ strategy to help clients bring new digital
experiences to their customers through IP-led technology offerings, new automation tools and
unparalleled skill and expertise in these new emerging areas.
This quarter, the shareholders in the AGM have approved to enter into a contract to acquire the
healthcare business from Infosys Public Services Inc. (IPS), a wholly-owned subsidiary of Infosys for
an estimated consideration of upto ` 625 crores with effect from a day as may be decide by the Board
of Directors
We are encouraged by the traction we are seeing with Panaya post the acquisition, and have won 15
new deals through our joint offerings.
We have joined the Industrial Internet Consortium (IIC), an open membership group established to
improve the integration between the physical and the digital worlds and accelerate the adoption of
Internet of Things. We will focus on the development of future IIC testbeds with key ecosystem partners,
leveraging our expertise in predictive analytics as applied to maintenance, operations, information,
service and energy. Our work on predictive analytics solutions for asset efficiency will be anchored on
open-source and open-access ingredients for rapid innovation by the community.
We continue to enhance our capabilities in Design Thinking across the organization, and have trained
more than 39,000 employees till date. We have also seen a positive response from clients with whom
we have various design thinking engagements.
Arif Rehman, Director, Supply Chain Operations, Cisco said, “Infosys has been a strategic partner
on our journey to catalyze innovation across the Global Manufacturing Operations organization. They
have been working closely with us from an organizational perspective to incorporate Design Thinking
and an innovator's mindset into how our teams collaborate, ideate and prototype towards more user-
centric solutions. What I appreciate the most is their ability to take a concept like innovation and
contextualize it into the day to day workings of our very analytical, knowledge-centric workforce.”
Innovation Fund
This quarter, we set aside US$10 million from our global Innovation Fund for Ireland-based start-ups. Earlier
this year, Infosys announced the US$500 million Innovation Fund earmarked for investments in the growth of
disruptive new technologies.
IFRS – INR
Press Release
Infosys Limited – Press Release Page 5 of 8
Awards and Recognition
We were honored with the Technology Partner Award at the 11th annual Manufacturing Leadership (ML)
Awards ceremony event for playing a primary role in enabling Toyota Motor Sales (TMS), USA achieve
outstanding performance in customer value.
This quarter we won the Key Supplier Award in recognition of specific services that we provide Avaya
in information technology, research and development. We also received the Award for Best Outsource
Services Supplier – surpassing over 1,200+ other Avaya suppliers who provide direct and indirect
materials / services.
We were awarded 'IT Services Provider of the Year – Banking Financial Services and Insurance Sector'
by Frost & Sullivan
Infosys Finacle™ was given the highest score for all six use cases in the Gartner Critical Capabilities
for International Retail Core Banking assessment. The report evaluated 20 leading core banking
companies for each of the use cases defined by Gartner.
We were identified as a ‘Leader’ in the Everest Group’s Life Sciences ITO PEAK Matrix 2015.
We were featured as a ‘Leader’ and ‘Star Performer’ in Everest Group’s Banking AO PEAK Matrix 2015.
At The Asian Banker Summit in Hong Kong, Finacle won the Outstanding Technology Implementation
Award with DBS Bank, Singapore, while also bagging The Asian Banker Vendor Satisfaction Survey
Gold Award for 2015.
We received the Global Solar EPC Award for solar installations across our campuses in India.
Beyond Business
For this fiscal, Infosys has pledged `270 crore towards Corporate Social Responsibility (CSR) which is primarily
being carried out through the Infosys Foundation, its philanthropic arm.
During this quarter, the Infosys Foundation USA, announced a partnership with Code.org to expand access to
computer science education for millions of students across the United States. The program includes
professional development for teachers, curriculum development and social outreach programs. Infosys
Foundation USA has also committed its support to Code.org’s annual Hour of Code initiative, a global grassroots
campaign that has introduced millions of students to computer science in over 180 countries.
Infosys became the first Indian company to join RE100, a global platform for major companies committed to
100% renewable power. As part of its commitment to RE100, Infosys aims to become carbon neutral by 2018.
The company is already working to reduce its per capita electricity consumption by 50 per cent from its 2007-
2008 levels and source all its electricity from renewable resources by 2018.
About Infosys Ltd Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable
clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the
competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that
combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 179,000+
employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Safe Harbor
IFRS – INR
Press Release
Infosys Limited – Press Release Page 6 of 8
Certain statements in this press release concerning our future growth prospects are forward-looking statements
regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities
Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results
to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations
in foreign exchange rates, our ability to manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly
skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our ability to manage our international operations,
reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system
failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal
or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and
general economic conditions affecting our industry. Additional risks that could affect our future operating results
are more fully described in our United States Securities and Exchange Commission filings including our Annual
Report on Form 20-F for the fiscal year ended March 31, 2015 and our Forms 6- K for the quarters ended June
30, 2014, September 30, 2014 and December 31, 2014. These filings are available at www.sec.gov. Infosys
may, from time to time, make additional written and oral forward-looking statements, including statements
contained in the company's filings with the Securities and Exchange Commission and our reports to
shareholders. In addition, please note that the date of this press release is July 21, 2015, and any forward-
looking statements contained herein are based on assumptions that we believe to be reasonable as of this date.
The company does not undertake to update any forward-looking statements that may be made from time to
time by or on behalf of the company unless it is required by law.
Contact Investor Relations Sandeep Mahindroo
+91 80 3980 1018 [email protected]
Media Relations Sarah Vanita Gideon, India +91 80 4156 3373 [email protected]
Cristin Balog
+1 650 320 4126
Infosys Limited and subsidiaries
Consolidated Balance Sheets as of
IFRS – INR
Press Release
Infosys Limited – Press Release Page 7 of 8
(In ` crore except share data)
June 30, 2015 March 31, 2015
ASSETS
Current assets
Cash and cash equivalents 28,142 30,367
Available-for-sale financial assets 736 874
Trade receivables 10,548 9,713
Unbilled revenue 2,953 2,845
Prepayments and other current assets 4,010 3,296
Derivative financial instruments 41 101
Total current assets 46,430 47,196
Non-current assets
Property, plant and equipment 9,511 9,125
Goodwill 3,635 3,091
Intangible assets 944 638
Investment in associate 95 93
Available-for-sale financial assets 1,371 1,345
Deferred income tax assets 484 537
Income tax assets 4,612 4,089
Other non-current assets 302 238
Total non-current assets 20,954 19,156
Total assets 67,384 66,352
LIABILITIES AND EQUITY
Current liabilities
Trade payables 196 140
Derivative financial instruments 6 3
Current income tax liabilities 3,162 2,818
Client deposits 21 27
Unearned revenue 1,183 1,052
Employee benefit obligations 1,163 1,069
Provisions 474 478
Other current liabilities 6,920 5,796
Total current liabilities 13,125 11,383
Non-current liabilities
Deferred income tax liabilities 284 160
Other non-current liabilities 116 46
Total liabilities 13,525 11,589
Equity
Share capital- ̀ 5 par value 240,00,00,000 (120,00,00,000) equity
shares authorized, issued and outstanding 228,56,10,264 (114,28,05,132), net of 1,13,34,400 (56,67,200) treasury shares, as of June 30, 2015 (March 31, 2015), respectively 1,144 572
Share premium 2,236 2,806
Retained earnings 49,947 50,978
Other components of equity 532 407
Total equity attributable to equity holders of the company 53,859 54,763
Non-controlling interests - -
Total equity 53,859 54,763
Total liabilities and equity 67,384 66,352
Infosys Limited and subsidiaries
Consolidated Statements of Comprehensive Income
(In ` crore except share and per equity share data)
IFRS – INR
Press Release
Infosys Limited – Press Release Page 8 of 8
Three months ended June 30, 2015
Three months ended June 30, 2014
Revenues 14,354 12,770
Cost of sales 9,123 8,046
Gross profit 5,231 4,724
Operating expenses:
Selling and marketing expenses 820 666
Administrative expenses 964 847
Total operating expenses 1,784 1,513
Operating profit 3,447 3,211
Other income, net 758 829
Share of net profit/(loss) in associate - -
Profit before income taxes 4,205 4,040
Income tax expense 1,175 1,154
Net profit 3,030 2,886
Other comprehensive income
Items that will not be reclassified to profit or loss:
Re-measurement of the net defined benefit liability/(asset) (7) (20)
Items that may be reclassified subsequently to profit or loss:
Fair value changes on available-for-sale financial asset (12) 17
Exchange differences on translation of foreign operations 144 -
Total other comprehensive income, net of tax 125 (3)
Total comprehensive income 3,155 2,883
Profit attributable to:
Owners of the company 3,030 2,886
Non-controlling interests - -
3,030 2,886
Total comprehensive income attributable to:
Owners of the company 3,155 2,883
Non-controlling interests - -
3,155 2,883
Earnings per equity share
Basic (`) 13.26 12.63
Diluted (`) 13.26 12.63
Weighted average equity shares used in computing earnings per equity share
Basic 228,56,10,264 228,56,10,264
Diluted 228,56,72,309 228,56,10,264
NOTE: 1. The audited Consolidated interim Balance sheets and Consolidated interim Statements of Comprehensive Income for the three months ended June 30, 2015 have been taken on record at the Board meeting held on July 21, 2015. 2. A Fact Sheet providing the operating metrics of the company can be downloaded from www.infosys.com 3. Previous period share count and EPS has been restated due to issue of bonus shares in Dec-14 and Jun-15
IFRS – USD
Press Release
Infosys Limited – Press Release Page 1 of 8
Infosys (NYSE: INFY) Announces Results for the Quarter ended June 30, 2015
Q1 revenue growth at 4.5% QoQ; highest in 15 quarters *
Volume growth at 5.4% QoQ, highest in 19 quarters
Gross client addition at 79
Largest client crosses $ 300 mn; added 2 clients in $ 200 mn bucket
6 large deals signed in Q1 with TCV of $ 688 mn
Quarterly annualized attrition for Infosys Limited at 14.2% compared to 23.4% in Q1
15
FY 16 revenue guidance retained at 10%-12% in constant currency; increased to
7.2%-9.2% in USD terms
*Excluding acquisitions
Bangalore, India – July 21, 2015
Financial Highlights
Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended June 30,
2015
Quarter ended June 30, 2015
Revenues were $ 2,256 million for the quarter ended June 30, 2015
QoQ growth was 4.5% in reported terms; 4.4% in constant currency terms
YoY growth was 5.7% in reported terms; 10.9% in constant currency terms
Net profit was $ 476 million for the quarter ended June 30, 2015
QoQ decline was 4.5%
YoY decline was 1.3%
Earnings per share (EPS) was $ 0.21 for the quarter ended June 30, 2015
QoQ decline was 4.5%
YoY decline was 1.3%
Liquid assets including cash and cash equivalents, available-for-sale financial assets and government
bonds were $ 4,750 million as on June 30, 2015 as compared to $ 5,214 million as on March 31, 2015
Infosys spent $ 7 million in Q1, towards Corporate Social Responsibility (CSR) which is primarily being
carried out through the Infosys Foundation, its philanthropic arm. The Infosys Foundation is engaged
in several programs aimed at alleviating hunger, promoting education, computing literacy, improving
health, assisting rural development, supporting arts and helping the destitute
Other Q1 Highlights
Volume growth of 5.4%
6 large deals signed with TCV of $ 688 mn
Added 79 clients
Utilization (excluding trainees) expanded 160 bps to 80.2%
Quarterly annualized attrition for Infosys Limited at 14.2% compared to 23.4% in Q1 15
IFRS – USD
Press Release
Infosys Limited – Press Release Page 2 of 8
“I am very pleased with our performance in the first quarter. Our efforts in redesigning our clients’ experience
and our widespread adoption of innovation, both in grassroots and breakthroughs, are starting to bear fruit in
large deal wins and in the growth of large clients”, said Dr. Vishal Sikka, CEO and MD. “While we are still early
in our journey to become the leading next-generation services company, this gives us good momentum for the
rest of the year.”
“The organization realignment made earlier this year for deeper client and operational focus has resulted in
strong volume growth”, said Mr. U. B. Pravin Rao, COO. “We continued the roll out of employee engagement
initiatives around collaboration and simplification of internal processes in order to retain the industry’s best
talent.”
“We are operating within our stated margin band, balancing strategic investments and client focus with
operational efficiencies”, said Rajiv Bansal, CFO. “Pricing environment is competitive which we are addressing
through automation and improvement in productivity.”
Outlook*
The Company’s outlook (consolidated) for the fiscal year ending March 31, 2016, under IFRS is as follows:
Revenues are expected to grow 10%-12% in constant currency;
Revenues are expected to grow 7.2%-9.2% in USD terms
*Conversion: AUD/USD – 0.77; Euro/USD – 1.12; GBP/USD – 1.57 for rest of fiscal 2016
Business Highlights
We made significant client additions this quarter, including six large deals, each greater than USD$50 million in
total contract value. We continue to focus on strengthening client relationships and delivering new and
innovative solutions.
Client wins
This quarter, we signed a multi-year agreement with Deutsche Bank encompassing bespoke
development, application maintenance services, digital and mobility services, package implementation,
and testing services. We are now a strategic partner under Deutsche Bank’s Supplier Partnership
Program.
Kim Hammonds, Global Chief Information Officer, Deutsche Bank said, “Kim Hammonds, Global
Chief Information Officer, Deutsche Bank said, “Deutsche Bank is committed to applying innovative
technology to enhance its efficiency and service to clients. Working with Infosys will help the bank
achieve these goals.”
We were selected as a strategic partner by Allied Irish Banks, p.l.c. (AIB), a financial services group
operating predominantly in the Republic of Ireland and the U.K. As part of this engagement, Infosys will
provide application development and management services, along with transformation and innovation
services. We will also set up a 200-seat facility in Dublin to house the staff who will be transferred from
AIB.
We have won a multi-year contract with ServiceFirst, an internal shared service of the Australian State
of New South Wales organization. The total commercial value of the deal is US $76 million and will
include BPO and SAP services.
This quarter, we completed the implementation of Infosys Smart Oilfield Services Solution for SAP ERP
at FTS International (FTSI), the largest private well completion company in North America. This will
enable the company to achieve a significant milestone in its strategic business transformation. Within
14 months, we helped FTSI implement 15 SAP modules across 20 locations for over 1,400 users, thus
IFRS – USD
Press Release
Infosys Limited – Press Release Page 3 of 8
enabling the company to improve operating metrics and to leverage an upgraded IT platform for future
growth.
FTSI Chief Information Officer and Chief HR Officer Sharon S. Stufflebeme said, “Infosys’
tremendous footprint, level of expertise in SAP deployment, ability to work with both IT and business
teams as well as its oil and gas experience made it the perfect partner for us in this important milestone
in our strategic business transformation.”
NBTY Inc., a global manufacturer, marketer, distributor and retailer of market-leading vitamins and
nutritional supplements entered into a multi-year partnership with us. As part of this agreement, we will
provide development and support services for NBTY’s IT systems including enterprise-wide application
development and maintenance services.
Andrea Simone, Sr. Vice President & Global CIO, NBTY Inc. said, “We are creating a global, world-
class IT architecture that will provide competitive advantage to NBTY in continuously driving profitable
growth. We selected Infosys as a strategic partner to provide next-generation application services and
to work with us on transformation initiatives that are expected to drive business and IT innovation.”
A global luxury fashion retailer has chosen us as its preferred global IT partner. We will drive efficiencies
and value by implementing a global IT shared services model and a client offshore delivery center to
support all regions.
A global mining company engaged us to streamline its finance and procurement process outsourcing,
as well as end-to-end IT services management including service desk, infrastructure and application
management.
A leading office equipment major selected us as its strategic partner for application development and
maintenance, testing and product implementation.
Platforms
To date we have had more than 127 client engagements where the Infosys Information Platform has been used
and have completed 16 pilot programs using this platform. We are encouraged by the traction we are seeing
with Panaya post the acquisition, and have won 15 new deals across different industries through our joint
offerings.
A European logistics company selected the Infosys Information platform to deliver near real-time data-based
tracking and reporting of operational metrics and project business volumes for capacity planning.
We won a project from a global pharmaceutical company to develop a predictive equipment maintenance
process based on equipment operating conditions and maintenance history information using the capabilities
of the Infosys Information Platform.
Another pharmaceutical company engaged us to develop a big data and analytics technology platform
architecture. The client also implemented the Infosys Information Platform to deliver on a range of operational
reporting in areas such as supply chain and inventory management using data from source systems such as
SAP.
Products
This quarter, the shareholders authorized the transfer of business of Finacle and Edge Services to EdgeVerve
with effect from August 1, 2015 or such other date as may be decided by the Board, for a consideration of upto
` 3,400 crore (app. $ 550 million) and upto ` 220 crore (app. $ 35 million) respectively. EdgeVerve Systems is
a wholly-owned subsidiary of Infosys.
EdgeVerve
EdgeVerve saw a great beginning to the year with 14 wins and 4 client go-lives.
A large consumer health and medical devices company selected ProcureEdge to power its source-to-
settle transformation. ProcureEdge will be implemented worldwide by the client to bring transformation
IFRS – USD
Press Release
Infosys Limited – Press Release Page 4 of 8
and savings across its buying organization. A large European telecom company expanded its use of
AssistEdge to include over 5,000 operators in its call centres, enabling them to simplify and automate
business processes by integrating multiple disparate systems; thereby reducing call handling time and
improving customer service. AssistEdge is also providing analytics-based insights to help the client
proactively allocate resources and take preventive steps to manage issues.
Finacle
This quarter, Finacle sustained strong business momentum with 19 wins and 12 go-lives across the
globe. Wins in the quarter included Corporation Bank and Indian Overseas Bank, both of which opted
for our industry leading core banking solution. Building on last quarter’s success with Qantas Credit
Union, Finacle also added another client in Australia for digital transformation.
Finacle continued to expand its solutions suite with three new offerings - Finacle Assure, Finacle Youth
Banking solution and Finacle SME Enable. Finacle also extended its partnership with Microsoft Corp
making its suite of solutions available on Microsoft Azure cloud.
Acquisitions, Investments and Partnerships
This quarter, we completed the acquisition of Kallidus Inc. (d.b.a Skava) and its affiliate, a leading
provider of digital experience solutions, including mobile commerce and in-store shopping experiences
to large retail clients. The acquisition of Skava is part of Infosys’ strategy to help clients bring new digital
experiences to their customers through IP-led technology offerings, new automation tools and
unparalleled skill and expertise in these new emerging areas.
This quarter, the shareholders in the AGM have approved to enter into a contract to acquire the
healthcare business from Infosys Public Services Inc. (IPS), a wholly-owned subsidiary of Infosys for
an estimated consideration of upto ` 625 crores (app. $ 100 million) with effect from a day as may be
decide by the Board of Directors
We are encouraged by the traction we are seeing with Panaya post the acquisition, and have won 15
new deals through our joint offerings.
We have joined the Industrial Internet Consortium (IIC), an open membership group established to
improve the integration between the physical and the digital worlds and accelerate the adoption of
Internet of Things. We will focus on the development of future IIC testbeds with key ecosystem partners,
leveraging our expertise in predictive analytics as applied to maintenance, operations, information,
service and energy. Our work on predictive analytics solutions for asset efficiency will be anchored on
open-source and open-access ingredients for rapid innovation by the community.
We continue to enhance our capabilities in Design Thinking across the organization, and have trained
more than 39,000 employees till date. We have also seen a positive response from clients with whom
we have various design thinking engagements.
Arif Rehman, Director, Supply Chain Operations, Cisco said, “Infosys has been a strategic partner
on our journey to catalyze innovation across the Global Manufacturing Operations organization. They
have been working closely with us from an organizational perspective to incorporate Design Thinking
and an innovator's mindset into how our teams collaborate, ideate and prototype towards more user-
centric solutions. What I appreciate the most is their ability to take a concept like innovation and
contextualize it into the day to day workings of our very analytical, knowledge-centric workforce.”
Innovation Fund
This quarter, we set aside US$10 million from our global Innovation Fund for Ireland-based start-ups. Earlier
this year, Infosys announced the US$500 million Innovation Fund earmarked for investments in the growth of
disruptive new technologies.
Awards and Recognition
IFRS – USD
Press Release
Infosys Limited – Press Release Page 5 of 8
We were honored with the Technology Partner Award at the 11th annual Manufacturing Leadership (ML)
Awards ceremony event for playing a primary role in enabling Toyota Motor Sales (TMS), USA achieve
outstanding performance in customer value.
This quarter we won the Key Supplier Award in recognition of specific services that we provide Avaya
in information technology, research and development. We also received the Award for Best Outsource
Services Supplier – surpassing over 1,200+ other Avaya suppliers who provide direct and indirect
materials / services.
We were awarded 'IT Services Provider of the Year – Banking Financial Services and Insurance Sector'
by Frost & Sullivan
Infosys Finacle™ was given the highest score for all six use cases in the Gartner Critical Capabilities
for International Retail Core Banking assessment. The report evaluated 20 leading core banking
companies for each of the use cases defined by Gartner.
We were identified as a ‘Leader’ in the Everest Group’s Life Sciences ITO PEAK Matrix 2015.
We were featured as a ‘Leader’ and ‘Star Performer’ in Everest Group’s Banking AO PEAK Matrix 2015.
At The Asian Banker Summit in Hong Kong, Finacle won the Outstanding Technology Implementation
Award with DBS Bank, Singapore, while also bagging The Asian Banker Vendor Satisfaction Survey
Gold Award for 2015.
We received the Global Solar EPC Award for solar installations across our campuses in India.
Beyond Business
For this fiscal, Infosys has pledged `270 crore towards Corporate Social Responsibility (CSR) which is primarily
being carried out through the Infosys Foundation, its philanthropic arm.
During this quarter, the Infosys Foundation USA, announced a partnership with Code.org to expand access to
computer science education for millions of students across the United States. The program includes
professional development for teachers, curriculum development and social outreach programs. Infosys
Foundation USA has also committed its support to Code.org’s annual Hour of Code initiative, a global grassroots
campaign that has introduced millions of students to computer science in over 180 countries.
Infosys became the first Indian company to join RE100, a global platform for major companies committed to
100% renewable power. As part of its commitment to RE100, Infosys aims to become carbon neutral by 2018.
The company is already working to reduce its per capita electricity consumption by 50 per cent from its 2007-
2008 levels and source all its electricity from renewable resources by 2018.
About Infosys Ltd
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable
clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the
competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that
combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.25 billion in annual revenues and 179,000+
employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Safe Harbor
Certain statements in this press release concerning our future growth prospects are forward-looking statements
regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities
IFRS – USD
Press Release
Infosys Limited – Press Release Page 6 of 8
Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results
to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations
in foreign exchange rates, our ability to manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly
skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our ability to manage our international operations,
reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system
failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal
or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and
general economic conditions affecting our industry. Additional risks that could affect our future operating results
are more fully described in our United States Securities and Exchange Commission filings including our Annual
Report on Form 20-F for the fiscal year ended March 31, 2015 and our Forms 6- K for the quarters ended June
30, 2014, September 30, 2014 and December 31, 2014. These filings are available at www.sec.gov. Infosys
may, from time to time, make additional written and oral forward-looking statements, including statements
contained in the company's filings with the Securities and Exchange Commission and our reports to
shareholders. In addition, please note that the date of this press release is July 21, 2015, and any forward-
looking statements contained herein are based on assumptions that we believe to be reasonable as of this date.
The company does not undertake to update any forward-looking statements that may be made from time to
time by or on behalf of the company unless it is required by law.
Contact Investor Relations Sandeep Mahindroo
+91 80 3980 1018 [email protected]
Media Relations Sarah Vanita Gideon, India +91 80 4156 3373 [email protected]
Cristin Balog
+1 650 320 4126
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Interim Balance Sheets as of
(Dollars in millions except equity share data)
IFRS – USD
Press Release
Infosys Limited – Press Release Page 7 of 8
June 30, 2015 March 31, 2015
ASSETS
Current assets
Cash and cash equivalents 4,421 4,859
Available-for-sale financial assets 116 140
Trade receivables 1,657 1,554
Unbilled revenue 464 455
Prepayments and other current assets 630 527
Derivative financial instruments 6 16
Total current assets 7,294 7,551
Non-current assets
Property, plant and equipment 1,494 1,460
Goodwill 571 495
Intangible assets 149 102
Investment in Associates 15 15
Available-for-sale financial assets 215 215
Deferred income tax assets 77 85
Income tax assets 724 654
Other non-current assets 48 38
Total non-current assets 3,293 3,064
Total assets 10,587 10,615
LIABILITIES AND EQUITY
Current liabilities
Trade payables 31 22
Derivative Financial Instruments 1 -
Current income tax liabilities 497 451
Client deposits 3 4
Unearned revenue 186 168
Employee benefit obligations 183 171
Provisions 74 77
Other current liabilities 1,087 927
Total current liabilities 2,062 1,820
Non-current liabilities
Deferred income tax liabilities 45 25
Other non-current liabilities 18 8
Total liabilities 2,125 1,853
Equity
Share capital- `5 ($0.16) par value 2,400,000,000 (1,200,000,000) equity shares authorized, issued and outstanding 2,285,610,264 (1,142,805,132), net of 11,334,400 (5,667,200) treasury shares as of June 30, 2015 (March 31, 2015), respectively 199 109
Share premium 569 659
Retained earnings 9,930 10,090
Other components of equity (2,236) (2,096)
Total equity attributable to equity holders of the company 8,462 8,762
Non-controlling interests - -
Total equity 8,462 8,762
Total liabilities and equity 10,587 10,615 Infosys Limited and subsidiaries Unaudited Condensed Consolidated Interim Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
IFRS – USD
Press Release
Infosys Limited – Press Release Page 8 of 8
Three months ended June 30, 2015
Three months ended June 30, 2014
Revenues 2,256 2,133
Cost of sales 1,434 1,344
Gross profit 822 789
Operating expenses:
Selling and marketing expenses 129 111
Administrative expenses 152 142
Total operating expenses 281 253
Operating profit 541 536
Other income, net 119 139
Share in associate's profit / (loss) - -
Profit before income taxes 660 675
Income tax expense 184 193
Net profit 476 482
Other comprehensive income
Items that will not be reclassified to profit or loss:
Re-measurement of the net defined benefit liability/(asset) (1) (3)
Items that may be reclassified subsequently to profit or loss:
Fair value changes on available-for-sale financial asset (2) 3
Exchange differences on translation of foreign operations (137) (36)
Total other comprehensive income, net of tax (140) (36)
Total comprehensive income 336 446
Profit attributable to:
Owners of the company 476 482
Non-controlling interests - -
476 482
Total comprehensive income attributable to:
Owners of the company 336 446
Non-controlling interests - -
336 446
Earnings per equity share
Basic ($) 0.21 0.21
Diluted ($) 0.21 0.21
Weighted average equity shares used in computing earnings per equity share
Basic 2,285,610,264 2,285,610,264
Diluted 2,285,672,309 2,285,610,264
NOTE: 1. The unaudited Condensed Consolidated interim Balance sheets and Condensed Consolidated interim Statements of Comprehensive Income for the three months ended June 30, 2015 have been taken on record at the Board meeting held on July 21, 2015 2. A Fact Sheet providing the operating metrics of the company can be downloaded from www.infosys.com
3. Previous period share count and EPS has been restated due to issue of bonus shares in Dec-14 and Jun-15