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Infosys (NYSE: INFY) Announces Results For The Quarter And Year Ended March 31, 2013

Stocks in this article: INFY

"The global currency market continues to be volatile reflecting the uncertain economic environment. Our hedging strategy helps us to minimize the volatility impact," said Rajiv Bansal, Chief Financial Officer.  "We have a healthy balance sheet with our cash and cash equivalents at US$ 4.4 billion."

     (Logo: http://photos.prnewswire.com/prnh/20130122/589162 )

Outlook*

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

Revenues are expected to grow 6% to 10.0%;

*  Exchange rates considered for major global currencies: AUD / USD - 1.04; GBP / USD - 1.51; Euro / USD - 1.28

Business Highlights

  • We continue to see good adoption our products and platforms from our clients. This quarter we had 12 wins (excluding Finacle™) across industries and geographies, taking our total number of clients for products and platforms to over 75.
  • In the last quarter we expanded our global footprint with a new delivery center in Munich, Germany, an onshore operations center in the Metro Atlanta Area, U.S. and a new delivery center for our BPO subsidiary in San José, Costa Rica.
  • The District of Columbia awarded us to implement the District of Columbia Access System (DCAS). DCAS will be a state-of-the-art health and human services solution that provides the District's Health Benefit Exchange, a new integrated eligibility system for Medicaid, private health insurance and other programs with new case management capabilities that span programs and agencies. This system will be used to determine eligibility and to enroll individuals, families, and small businesses that purchase health care coverage through the Exchange's online marketplace.
  • Our focus on Cloud and Big Data as new growth areas continues to yield results; we currently have more than 200 engagements and 3,500 experts in our Cloud practice. Over the last quarter, we won over 10 engagements across Cloud services, Big Data and security. Our vision of investing in new growth areas with differentiated solutions was strengthened by the launch of Infosys BigDataEdge that radically simplifies the complex task of analyzing Big Data to discover relevant information.
  • Mobility is an important focus for enterprises to make their organizations more efficient and customer centric and we are helping our clients realize the full business potential of mobility. In the last quarter we started 18 new engagements across various areas like business and technology consulting, customer outreach, mobile marketing, field services, enterprise efficiency.
  • During the fourth quarter, we applied for 21 unique patent applications in India and the U.S. With this, we have 532 patent applications undergoing various stages of patent prosecution in India, the U.S. and other jurisdictions, and have been granted 84 patents by the United States Patent and Trademark Office and three patents by the Luxembourg patent office.

Awards and Recognition

  • Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock Award for the most innovative product/service.
  • The National Association of Software and Services Companies (NASSCOM) presented its prestigious Business Innovation Award to Infosys Edge™.
  • We have been named a 2013 Computerworld Honors Laureate in recognition of our use of information technology to promote and advance public welfare, benefit society and business and change the world for the better.
  • Our enterprise mobility services were rated highly by various analysts, including a leader rating in The Forrester Wave™: Enterprise Mobility Services, Q1 2013 report.
  • Ovum, the global analyst firm, recognized Flypp™ Digital Experience Platform as a well-developed ecosystem of services, large repository of apps (comparable to Google Play and the App Store) and monetization processes.
  • We won top accolades at the National Council for Work Experience (NCWE) Awards 2013, marking us as one of UK's best internship providers.

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