Infosys Announces Results for the Quarter Ended December 31, 2012

Bangalore, India (ots/PRNewswire) -

Q3 Revenues Grow by 6.3% Quarter on Quarter

Financial Highlights

Consolidated results under International Financial Reporting
Standards (IFRS) for the quarter ended December 31, 2012

- Revenues were $1,911 million for the quarter ended December 31, 
2012;
  QoQ growth was 6.3%
  YoY growth was 5.8%
- Revenues excluding Lodestone were $1,872 million;
  QoQ growth was 4.2%
  YoY growth was 3.7%
- Net income after tax was $434 million for the quarter ended 
December 31, 2012
  against $431 million for the quarter ended September 30, 2012
- Earnings per American Depositary Share (EPADS) was $0.76 for the 
quarter ended
  December 31, 2012 against $0.75 for the quarter ended September 30,
2012
- Liquid assets including cash and cash equivalents, current 
available-for-sale
  financial assets, investment in certificates of deposits and 
government bonds were
  $4.1 billion versus $4.3 billion as on September 30, 2012

Other highlights:

- The company won 8 large outsourcing deals amounting to US$ 731 
million of
  total contract value
- 14 new wins for Infosys' products and platforms
- Infosys and its subsidiaries added 53 clients during the quarter
- Gross addition of 7,499 employees (net addition of 977) for the 
quarter by
  Infosys and its subsidiaries.
- 155,629 employees as on December 31, 2012 for Infosys and its 
subsidiaries
- Completed the acquisition of Lodestone Holding AG, a leading 
management
  consultancy based in Switzerland
- Infosys American Depositary Shares (ADS) have started trading on 
the New York
  Stock Exchange (NYSE) under the ticker symbol 'INFY'. The company 
is in the process of
  listing its ADS on the Paris and London exchanges of NYSE Euronext.

"We have done well in this quarter despite an uncertain environment,"
said S. D. Shibulal, CEO and Managing Director. "We continue to gain
confidence from a strong pipeline of large deals. However, the
broader economic environment remains difficult. Even so, we remain
cautiously optimistic about the January-March quarter," he added.

"We were able to maintain our margins through efficiency improvements
despite increased operating expenses. We remain focused on making the
right investments for profitable and sustainable growth in the longer
term," said Rajiv Bansal, Chief Financial Officer.

Outlook*

The company's outlook (consolidated) for the fiscal year ending March
31, 2013, under IFRS is as follows:

Revenues** are expected to be at least $7,450 million;

Earnings per American Depositary Share (EPADS) is expected to be at
least $2.97;

* Exchange rates considered for major global currencies: AUD / USD -
1.04; GBP / USD - 1.62; Euro / USD - 1.32 for rest of fiscal 2013

** Includes $104 million from Lodestone

Business Highlights

- The company won 8 large outsourcing deals amounting to US$ 731 Mn 
of total
  contract value
- Our offerings in the Products and Platforms space continue to see 
good
  momentum. This quarter we had 14 wins across industries and 
geographies. Infosys
  products and platforms (excluding Finacle(TM)) are now adopted by 
more than 70 global
  clients.
- A Blue Cross Blue Shield Plan selected us as a strategic partner to
provide
  enterprise-wide testing services and establish a Test CoE within 
its IT organization,
  aimed at creating testing processes and frameworks to support the 
company's ongoing
  transformation due to US healthcare reform. Another Blue Cross Blue
Shield Plan is
  leveraging Infosys iTransform(TM) product and services to help its 
ICD-10 migration,
  mandated by the U.S. federal government.
- Our focus on Cloud as a new growth area continues to yield results 
and the
  Cloud business currently has more than 190 engagements and 3,500 
experts. Over the
  last quarter, we won more than 15 engagements across Cloud 
services, Big Data and
  Security. Our vision of being a Cloud Ecosystem Integrator has 
gained increasing
  acceptance with clients and we are working with more than 30 
partners to help clients
  create and manage their unified hybrid cloud environments.
- During the third quarter, Infosys applied for seven patent 
applications in
  India and the U.S. With this, it has 525 patent applications in 
India, the U.S. and
  other jurisdictions, and has been granted 71 patents by the United 
States Patent and
  Trademark Office and two patents by the Luxembourg patent office.

Awards and Recognition

Infosys has been consistently honored by influencers

- We were declared the winners of 2012 Asia's Most Admired Knowledge
  Enterprises (MAKE) study by Teleos, in association with The KNOW 
Network for the 10th
  time, for developing knowledge based products and services.
- Infosys BPO Ltd. has been awarded the prestigious 2012 Optimas 
Award for
  'Managing Change', recognizing exemplary achievements in workforce 
management and for
  successfully integrating new employees from around the globe into 
the organization.
- Infosys BPO Ltd. won the Gold Award for Marketing Excellence in the
category
  of 'Marketing with Social and Interactive Media' at the Information
Technology
  Services Marketing Association (ITSMA) Awards 2012.
- We have received the Microsoft Platform Modernization Award for 
sales
  achievement for our Legacy Modernization solution, which helps 
customers migrate to
  Microsoft platforms.
- We were awarded the National Energy Conservation Award 2012 for our
energy
  conservation efforts at our campuses in Jaipur and Pune.
- We have been awarded the global No. 1 position for our corporate 
governance
  practices by IR Global Rankings (IRGR).
- Finacle(TM) from Infosys has been ranked as a long-term leader in 
The
  Forrester Wave(TM): Global Banking Platforms, Q4 2012

About Infosys Ltd

Infosys partners with global enterprises to drive their
innovation-led growth. That's why Forbes ranked Infosys 19th among
the top 100 most innovative companies. As a leading provider of
next-generation consulting, technology and outsourcing solutions,
Infosys helps clients in more than 30 countries realize their goals.

Visit http://www.infosys.com and see how Infosys , with its 150,000+
people, is Building Tomorrow's Enterprise(R) today.

Safe Harbor

Certain statements in this release concerning our future growth
prospects are forward-looking statements, 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, 2012 and on Form 6-K for the
quarter ended December 31, 2011, June 30, 2012 and September 30,
2012. These filings are available at http://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. 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.

INR Press Release: http://www.multivu.prnewswire.com/mnr/prne/operati
ons/INR-press-release-Version-4.pdf

Fact Sheet: http://www.multivu.prnewswire.com/mnr/prne/operations/Fac
tsheet-Q3-2013.pdf

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Balance Sheets as of

(Dollars in millions except share data)

December 31,      
March 31, 
                                                       2012          
2012
ASSETS
Current assets
Cash and cash equivalents                            $2,740         
$4,047
Available-for-sale financial assets                   1,339          
6
Investment in certificates of deposit                     -          
68
Trade receivables                                     1,266          
1,156
Unbilled revenue                                        405          
368
Prepayments and other current assets                    335          
300
Total current assets                                  6,085          
5,945
Non-current assets
Property, plant and equipment                         1,115          
1,063
Goodwill                                                368          
195
Intangible assets                                        72          
34
Available-for-sale financial assets                       2          
2
Investment in government bonds                           12          
-
Deferred income tax assets                               77          
62
Income tax assets                                       191          
204
Other non-current assets                                 33          
32
Total non-current assets                              1,870          
1,592
Total assets                                          $7955         
$7,537
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments                          -          
$9
Trade payables                                           13          
5
Current income tax liabilities                          227          
207
Client deposits                                          12          
3
Unearned revenue                                        146          
107
Employee benefit obligations                            109          
98
Provisions                                               39          
26
Other current liabilities                               562          
482
Total current liabilities                             1,108          
937
Non-current liabilities
Deferred income tax liabilities                          16          
2
Other non-current liabilities                            18          
22
Total liabilities                                     1,142          
961
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,402,566 and 571,396,410,
net of 2,833,600 treasury shares each as of
December 31, 2012 and March 31, 2012,
respectively                                             64          
64
Share premium                                           704          
703
Retained earnings                                     7,223          
6,509
Other components of equity                          (1,178)          
(700)
Total equity attributable to equity holders
of the company                                        6,813          
6,576
Non-controlling interests                                 -          
-
Total equity                                          6,813          
6,576
Total liabilities and equity                         $7,955         
$7,537

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Statements of Comprehensive Income

(Dollars in millions except share and per equity share data)

Three        Three         Nine     
Nine 
                                months       months       months     
months
                                 ended        ended        ended     
ended
                              December     December     December     
December
                              31, 2012     31, 2011     31, 2012     
31, 2011

Revenues                        $1,911       $1,806       $5,460     
$5,233
Cost of sales                    1,203         1030        3,376     
3,077
Gross profit                       708          776        2,084     
2,146
Operating expenses:
Selling and marketing
expenses                            99           88          277     
275
Administrative expenses            118          128          355     
386
Total operating expenses           217          216          632     
661
Operating profit                   491          560        1,452     
1,485
Other income, net                   92           82          308     
266
Profit before income taxes         583          642        1,760     
1,751
Income tax expense                 149          184          479     
498
Net profit                        $434         $458       $1,281     
$1,253
Other comprehensive income
Fair value changes on
available - for-sale
financial asset, net of
tax effect                           -            -            -     
$(2)
Exchange differences on
translating foreign
operations                        (250)        (442)        (478)    
(1,004)
Total other comprehensive
income                           $(250)       $(442)       $(478)    
$(1,006)
Total comprehensive income        $184          $16         $803     
$247
Profit attributable to:
Owners of the company             $434         $458       $1,281     
$1,253
Non-controlling interests            -            -            -     
-
                                  $434         $458       $1,281     
$1,253
Total comprehensive income
attributable to:
Owners of the company             $184          $16         $803     
$247
Non-controlling interests            -            -            -     
-
                                  $184          $16         $803     
$247
Earnings per equity share
Basic ($)                         0.76         0.80         2.24     
2.19
Diluted ($)                       0.76         0.80         2.24     
2.19
Weighted average equity
shares used in computing
earnings per equity share
Basic                      571,400,086  571,377,084  571,398,129  
571,356,602
Diluted                    571,400,417  571,396,560  571,399,018  
571,394,949

NOTE:

1. The unaudited Condensed Consolidated Balance sheets and Condensed
Consolidated Statements of Comprehensive Income for the three months
and nine months ended December 31, 2012 has been taken on record at
the Board meeting held on January 11, 2013

2. A Fact Sheet providing the operating metrics of the company can be
downloaded from http://www.infosys.com

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | PRN

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