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Infosys (NYSE: INFY) Announces Results For The Quarter Ended September 30, 2013

Stocks in this article: INFY

BANGALORE, India, October 11, 2013 /PRNewswire/ --

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Financial Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2013

Business Highlights

  • Revenues were $2,066 million for the quarter ended September 30, 2013  QoQ growth was 3.8%  YoY growth was 15.0%
  • Net profit was $383 million for the quarter ended September 30, 2013  QoQ decline was 8.4%  YoY decline was 11.1%
  • Earnings per American Depositary Share (EPADS) was $0.67 for the quarter ended September 30, 2013  QoQ decline was 8.2%  YoY decline was 10.7% EPADS for the quarter ended September 30, 2013 is $0.73 per share, excluding the provision of $35m for visa related matters. EPADS for the quarter is $0.67 per share, including the provision of $35m for visa related matters. The difference is $0.06 per share.
  • Liquid assets including cash and cash equivalents, available-for-sale financial assets, and government bonds were $4.3 billion as on September 30, 2013 versus $4.1 billion as on June 30, 2013

Other highlights:

  • Infosys and its subsidiaries added 68 clients during the quarter
  • Gross addition of 12,168 employees (net addition of 2,964) for the quarter by Infosys and its subsidiaries
  • 160,227 employees as on September 30, 2013 for Infosys and its subsidiaries
  • Declared an interim dividend of `20 per ADS (equivalent to an interim dividend of $0.32 per ADS, at the prevailing exchange rate of `62.61 per US$). The record date for the payment of dividend is October 18, 2013

"During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings. This growth is a result of our focus on execution, which helps our clients achieve their objectives,"  said S. D. Shibulal, CEO and Managing Director. "We will continue with planned investments and initiatives to explore new avenues of growth. We remain watchful of the sustainability of improving global economic fundamentals," he added.

"The global currency market remains volatile with the Indian Rupee depreciating by 11% during the quarter. We have an active hedging program to minimize its impact on our margins. We will continue our focus on optimizing costs and enhancing the efficiency of our operations, "   said Rajiv Bansal, Chief Financial Officer.


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