Infosys Ltd. — Interim / Quarterly Report 2014

Jan 9, 2014

Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Statement of Comprehensive Income for three months ended,

|(Asper IFRS)||||In_crore, except share data_|_In_crore, except share data|
|---|---|---|---|---|---|
||Dec 31,||Growth (%)|Sep 30, 2013|Growth %
Q3 14 over
Q2 14|
|Particulars||||||
||2013|2012||||
|||||||
|Revenues|13,026|10,424|25.0|12,965|0.5|
|Cost of sales|8,321|6,566|26.7|8,384|(0.8)|
|Gross Profit|4,705|3,858|22.0|4,581|2.7|
|OperatingExpenses:||||||
|Selling and marketing expenses|644|541|19.0|757|(14.9)|
|_Administrative expenses_|802|640|25.3|987|(18.7)|
|Total Operating Expenses|1,446|1,181|22.4|1,744|(17.1)|
|Operating Profit|3,259|2,677|21.7|2,837|14.9|
|Other Income, net|731|503|45.3|510|43.3|
|Profit before income taxes|3,990|3,180|25.5|3,347|19.2|
|Income tax expense|1,115|811|37.5|940|18.6|
|Net Profit|2,875|2,369|21.4|2,407|19.4|
|Earningsper equityshare#||||||
|Basic(**)**|**50.32**|**41.47**|**21.3**|**42.12**|**19.5**| |**Diluted(**)|50.32|41.47|21.3|42.12|19.5*|

*Administrative expenses for the three months ended September 30, 2013 include a provision of ` 219 crore towards visa related matters.

# EPS for the three months ended September 30, 2013 is _45.96 per share, excluding the provision of_ 219 crore for visa related matters. EPS for the three months ended September 30, 2013 is _42.12 per share, including the provision of_ 219 crore for visa related matters. The difference is ` 3.84 per share.

Statement of Comprehensive Income for nine months ended,

|(Asper IFRS)|In_crore, except share data_|_In_crore, except share data|In_crore, except share data_| |---|---|---|---| ||**Dec 31,**||| |**il**|||**Growth (%)**| |**Partcuars**|**2013**|**2012**|| ||||| |Revenues|**37,258**|**29,898**|**24.6**| |Cost of sales|24,024|18,478|30.0| |**Gross Profit**|**13,234**|**11,420**|**15.9**| |OperatingExpenses:|||| |_Selling and marketing expenses_|1,985|1,516|30.9| |_Administrative expenses*_|2,489|1,937|28.5| |**Total Operating Expenses**|**4,474**|**3,453**|**29.6**| |**Operating Profit**|**8,760**|**7,967**|**10.0**| |Other Income,net|1,818|1,685|7.9| |**Profit before income taxes**|**10,578**|**9,652**|**9.6**| |Income tax expense|2,922|2,625|11.3| |**Net Profit**|**7,656**|**7,027**|**9.0**| |Earningsper equityshare#|||| |**Basic(**)|133.99|122.99|8.9|
|Diluted(`)|133.99|122.99|8.9|

*Administrative expenses for the nine months ended December 31, 2013 include a charge of ` 219 crore towards visa related matters.

# EPS for the nine months ended December 31, 2013 is _137.83 per share, excluding the charge of_ 219 crore for visa related matters. EPS for the nine months ended December 31, 2013 is _133.99 per share, including the charge of_ 219 crore for visa related matters. The difference is ` 3.84 per share.

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Statement of Comprehensive Income for three months ended,

(Asper IFRS)				in US $ million, except share data	in US $ million, except share data
	Dec	31,	Growth (%)	Sep 30, 2013	Growth % Q3 14 over Q2 14
Particulars
	2013	2012
Revenues	2,100	1,911	9.9	2,066	1.7
Cost of sales	1,341	1,203	11.5	1,337	0.3
Gross Profit	759	708	7.2	729	4.1
OperatingExpenses:
Selling and marketing expenses	104	99	5.1	120	(13.3)
Administrative expenses*	129	118	9.3	158	(18.4)
Total Operating Expenses	233	217	7.4	278	(16.2)
Operating Profit	526	491	7.1	451	16.7
Other Income, net	117	92	27.2	81	44.4
Profit before income taxes	643	583	10.3	532	20.9
Income tax expense	180	149	20.8	149	20.8
Net Profit	463	434	6.7	383	20.9
Earningsper equityshare#
Basic($)	0.81	0.76	6.6	0.67	20.9
Diluted($)	0.81	0.76	6.6	0.67	20.9

*Administrative expenses for the three months ended September 30, 2013 include a provision of $ 35 million towards visa related matters.

# EPS for the three months ended September 30, 2013 is $ 0.73 per share, excluding the provision of $ 35 Million for visa related matters. EPS for the three months ended September 30, 2013 is $ 0.67 per share, including the provision of $ 35 million for visa related matters. The difference is $ 0.06 per share.

Statement of Comprehensive Income for nine months ended,

(Asper IFRS)	in US $ million, except share data	in US $ million, except share data	in US $ million, except share data
	Dec 31,
l			Growth (%)
Particuars	2013	2012
Revenues	6,157	5,460	12.8
Cost of sales	3,974	3,376	17.7
Gross Profit	2,183	2,084	4.8
OperatingExpenses:
Selling and marketing expenses	327	277	18.1
Administrative expenses*	411	355	15.8
Total Operating Expenses	738	632	16.8
Operating Profit	1,445	1,452	(0.5)
Other Income,net	301	308	(2.3)
Profit before income taxes	1,746	1,760	(0.8)
Income tax expense	482	479	0.6
Net Profit	1,264	1,281	(1.3)
Earningsper equityshare#
Basic($)	2.21	2.24	(1.3)
Diluted($)	2.21	2.24	(1.3)

*Administrative expenses for the nine months ended December 31, 2013 include a charge of $ 35 million towards visa related matters.

# EPS for the nine months ended December 31, 2013 is $ 2.27 per share, excluding the charge of $ 35 million for visa related matters. EPS for the nine months ended December 31, 2013 is $ 2.21 per share, including the charge of $ 35 million for visa related matters. The difference is $ 0.06 per share.

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Revenues by Geographical Segment

(in %)

		Quarter ended	Quarter ended	LTM	LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
North America	60.0	61.5	61.0	60.8	62.8
Europe	24.9	24.0	24.0	24.4	22.6
India	2.6	2.4	2.2	2.5	2.0
Rest of the world	12.5	12.1	12.8	12.3	12.6
Total	100.0	100.0	100.0	100.0	100.0

Revenues by Service Offering

Revenues by Service Offering
				(in %)
		Quarter ended		LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
Business IT Services	61.3	61.4	61.9	61.3	63.3
Application Development	15.9	16.0	15.8	15.7	16.7
Application Maintenance	19.2	19.1	20.0	19.4	20.8
Infrastructure Management Services	6.9	7.2	6.9	7.1	6.6
Testing Services	8.7	8.4	8.4	8.5	8.3
Product Engineering Services	3.2	3.3	3.2	3.2	3.4
Business Process Management	5.3	5.1	5.2	5.2	4.9
Others	2.1	2.3	2.4	2.2	2.6
Consulting, Package Implementation & Others
	33.4	33.3	32.6	33.3	30.9
Products, Platforms and Solutions	5.3	5.3	5.5	5.4	5.8
Products	3.8	3.7	3.9	3.8	4.1
BPM Platform	1.1	1.2	1.3	1.2	1.3
Others	0.4	0.4	0.3	0.4	0.4
Total	100.0	100.0	100.0	100.0	100.0

Revenues by Project Type[*]

				(in %)	(in %)
		Quarter ended		LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
Fixed Price	41.0	40.2	41.3	40.4	39.8
Time & Materials	59.0	59.8	58.7	59.6	60.2
Total	100.0	100.0	100.0	100.0	100.0

* Excluding products

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Revenues by Industry

(in %)

		Quarter ended		LTM	LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
Banking & Financial Services, Insurance		33.4	33.7		34.0
	33.5			33.7
Banking &financial services	27.2	27.1	26.8	27.2	27.2
Insurance	6.3	6.3	6.9	6.5	6.8
Manufacturing	22.8	23.2	21.7	22.7	21.8
Retail & Life Sciences	24.6	24.2	24.1	24.3	23.7
Retail & CPG	16.0	15.7	16.0	15.7	16.4
Transport & Logistics	1.6	1.8	1.8	1.7	1.7
Life Sciences	5.0	4.6	4.8	4.8	4.1
Healthcare	2.0	2.1	1.5	2.1	1.5
Energy, Utilities, Communications & Services	19.1	19.2	20.5	19.3	20.5
Energy & Utilities	5.2	5.1	5.4	5.1	5.4
Telecom	7.9	8.3	9.6	8.5	9.9
Others	6.0	5.8	5.5	5.7	5.2
Total	100.0	100.0	100.0	100.0	100.0

Client Data

		Quarter ended	Quarter ended	Year ended	Year ended
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Mar 31, 2013	Mar 31, 2012
Number of Clients
Active	888	873	776	798	694
Added duringtheperiod(gross)	54	68	89	235	172
Number of million dollar clients*
1 Million dollar +	495	469	419	448	399
5 Million dollar +	226	221	209	213	190
10 Million dollar +	148	146	136	137	132
20 Million dollar +	88	86	81	80	79
30 Million dollar +	69	66	62	62	64
40 Million dollar +	55	51	50	49	50
50 Million dollar +	41	40	40	40	40
60 Million dollar +	36	34	34	33	28
70 Million dollar +	30	30	25	28	23
80 Million dollar +	21	22	20	19	17
90 Million dollar +	17	17	15	17	16
100 Million dollar +	15	15	12	12	13
200 Million dollar +	4	3	3	3	2
300 Million dollar +	1	–	–	–	1
Client contribution to revenues
Topclient	3.7%	3.9%	3.6%	3.8%	4.3%
Top5 clients	14.1%	15.0%	14.6%	15.2%	15.5%
Top10 clients	23.5%	24.5%	23.9%	24.6%	24.6%
Repeat business	97.3%	98.3%	97.5%	97.8%	97.8%
Account receivables-LTM(in days)#	65	62	62	64	60
*LTM (Last twelve months) Revenues # excluding Lodestone

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Effort and Utilization

(in %)

		Quarter ended		LTM	LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
Effort
Onsite	24.6	25.6	24.6	25.4	24.6
Offshore	75.4	74.4	75.4	74.6	75.4
Revenues
Onsite	51.1	52.5	51.4	52.2	50.4
Offshore	48.9	47.5	48.6	47.8	49.6
Utilization
Includingtrainees	74.1	73.7	70.1	72.8	68.5
Excludingtrainees	78.0	77.8	73.2	76.4	72.8

Person Months Data

		Quarter ended		LTM	LTM
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Dec 31, 2013	Dec 31, 2012
Billed – Onsite	85,356	87,383	77,970	341,084	294,093
– Offshore	261,516	253,828	238,595	1,000,957	903,739
TOTAL	346,872	341,211	316,565	1,342,041	1,197,832
Non Billable	97,789	97,310	115,826	414,365	447,837
Trainee	23,429	24,670	19,229	87,516	101,791
Sales & Support	26,716	27,108	26,643	107,826	100,092
TOTAL	494,806	490,299	478,263	1,951,748	1,847,552

Consolidated IT Services

			Quarter ended	Quarter ended				LTM	LTM
								Year on Year growth %		Year on Year growth %
	Dec 31, 2013	Sequential growth %	Sep 30, 2013	Sequential growth %	Dec 31, 2012	Sequential growth %	Dec 31, 2013		Dec 31, 2012
Effort - (Person months)
Onsite	79,375	(3.4)	82,156	0.7	73,603	3.7	320,249	14.8	279,072	7.8
Offshore	185,744	2.6	181,107	4.3	167,320	1.3	708,759	9.5	647,035	9.0
Total	265,119	0.7	263,263	3.1	240,923	2.0	1,029,009	11.1	926,107	8.6
Revenues	–($ million)
Onsite	1,039.88	(1.3)	1,053.10	2.1	952.71	7.5	4,104.25	15.9	3,540.63	6.5
Offshore	846.15	4.8	807.42	6.1	761.56	3.6	3,169.30	7.7	2,942.39	4.9
Total	1,886.03	1.4	1,860.52	3.8	1,714.27	5.7	7,273.56	12.2	6,483.02	5.8

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Employee Metrics

Employee Metrics
					(Nos.)
		Quarter ended		Year e	nded
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Mar 31, 2013	Mar 31, 2012
Total employees	1,58,404	1,60,227	1,55,629	1,56,688	1,49,994
S/Wprofessionals	1,48,740	1,50,489	1,46,250	1,47,008	1,41,788
Billable	1,35,869	1,36,426	134,660	1,35,392	1,24,953
Banking productgroup	6,977	6,580	7,460	7,249	8,139
Trainees	5,894	7,483	4,130	4,367	8,696
Sales & Support	9,664	9,738	9,379	9,680	8,206
Gross addition	6,682	12,168	8,390	37,036	45,605
Of which lateral addition	3,333	3,806	4,351	16,781	14,966
Attrition	8,505	9,204	6,522	30,342	26,431
Net addition	(1,823)	2,964	1,868	6,694	19,174
Attrition %(LTM)*	18.1%	17.3%	15.1%	16.3%	14.7%

* Excluding subsidiaries

Employee Metrics – Subsidiaries

Employee Metrics – Subsidiaries
				(Nos.)
		Quarter ended		Year ended
	Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Mar 31, 2013	Mar 31, 2012
Infosys BPO Limited – consolidated	26,475	26,834	23,714	24,634	20,523
Infosys Technologies(Australia)Pty. Ltd.*	-	-	-	-	674
Infosys Technologies (China) Company Ltd.	2,921	3,067	3,066	3,073	3,092
Infosys Technologies S.De R.L. De C. V., Mexico	795	835	753	797	631
Infosys Technologies(Sweden)AB	2	2	6	4	11
Infosys Tecnologia DO Brasil LTDA	601	547	371	393	210
Infosys Public Services Inc.	178	182	179	182	33
Infosys Technologies (Shanghai) Company Ltd.	-	4	55	17	31
Lodestone HoldingAG - consolidated	1,511	1,450	891	1,191	-

* Employees of Infosys Australia were transferred to Infosys Limited consequent to merger of its operations with the parent company

Infrastructure (as on Dec 31, 2013)

	Completed	Completed	Work in	progress	Land acquired during the Quarter(acres)
	Built-up area	No. of seats	Built-up area	No. of seats
	(Sq. Ft.)		(Sq. Ft.)
Bangalore	47,88,391	33,931	2,66,587	2,020	14.89
Bhubaneswar	8,79,721	3,974	5,34,767	4,320	-
Chandigarh	12,26,033	6,769	-	-	-
Chennai	42,60,674	25,240	-	-	-
Gurgaon	1,01,183	988	1,35,209	1,250	-
Hyderabad	39,05,350	21,840	10,48,204	4,148	-
Jaipur	4,52,139	4,367	4,04,106	4,000	-
Mangalore	14,33,469	6,712	10,25,967	4,800
Mysore(includingILI)*	95,29,485	11,759	19,84,011	3,864	-
Pune	54,82,482	32,470	13,12,473	4,304	-
Thiruvananthapuram	6,18,201	4,643	21,39,267	8,479	-
Global Centers	16,88,535	15,960	-	-	-
Total	3,43,65,663	1,68,653	88,50,591	37,185	14.89

*Infosys Leadership Institute

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Subsidiaries Performance

(US $ Mn)

			Quarter ended	Quarter ended			Year ended	Year ended
	Dec 31, 2013		Sep 30, 2013		Dec 31, 2012		Mar 31, 2013
Subsidiaries
	Revenues	Net Income	Revenues	Net Income	Revenues	Net Income	Revenues	Net Income
Infosys BPO Limited – consolidated	136.52	24.72	132.13	18.87	125.16	19.32	471.22	79.04
Infosys Technologies (Australia) Pty. Ltd.*
	-	(0.06)	-	0.10	-	0.19	0.42	0.31
Infosys Technologies (China) CompanyLimited	29.25	0.55	31.68	0.10	26.56	0.69	104.37	(1.88)
Infosys Technologies S.de R.L. de C V.,Mexico
	9.52	(0.38)	10.51	0.87	7.99	(0.06)	30.12	(0.37)
Infosys Technologies (Sweden) AB	0.11	(0.05)	0.11	0.00	0.22	(0.01)	1.11	(0.01)
Infosys Tecnologia DO Brasil LTDA	7.92	(0.33)	8.66	(2.27)	4.80	(2.20)	23.59	(3.11)
Infosys Public Services Inc.	42.89	(2.01)	43.32	(2.18)	26.80	(1.11)	110.40	(1.90)
Infosys Technologies (Shanghai) Co Ltd
	-	(0.32)	-	(0.36)	0.02	(1.65)	0.14	(2.85)
Lodestone HoldingAG - consolidated	119.30	3.32	98.13	1.21	39.35	2.53	109.64	(0.90)

* Employees of Infosys Australia were transferred to Infosys Limited consequent to merger of its operations with the parent company

Rupee Dollar Rate ( ` )

	Quarter ended		Year ended	Year ended
Dec 31, 2013	Sep 30, 2013	Dec 31, 2012	Mar 31, 2013	Mar 31, 2012
61.81	62.61	55.00	54.29	50.88
62.03	62.77	54.55	54.54	48.10

Constant Currency Reporting

Reported revenues	Q3 14	Q2 14	Q1 14	Q4 13	Q3 13
Revenues($mn)	2,100	2,066	1,991	1,938	1,911
Sequential growth %	1.7	3.8	2.7	1.4	6.3
YoYgrowth %	9.9	15.0	13.6	9.4	5.8
Constant currency –Q oQ	Q3 14	Q2 14	Q1 14	Q4 13	Q3 13
Revenues($mn)	2,091	2,074	2,005	1,944	1,902
Sequential growth %	1.2	4.2	3.4	1.7	5.8
Constant currency – Y o Y	Q3 14	Q2 14	Q1 14	Q4 13	Q3 13
Revenues($mn)	2,122	2,086	1,999	1,946	1,910
YoY growth %	11.0	16.1	14.1	9.9	5.8

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Fact Sheet

Consolidated Financial Data - Third Quarter, Fiscal 2014

Notes:

Basis of computation

1. Foreign exchange rates are as per FEDAI.

2. Average rates for major global currencies:

Average rate of USD	Q3 14	Q2 14	Q1 14	FY 13	Q4 13	Q3 13
AUD	0.92	0.92	0.98	1.03	1.03	1.04
EURO	1.37	1.34	1.31	1.29	1.32	1.30
GBP	1.62	1.56	1.54	1.58	1.54	1.61
3. Proportion of revenues from majorglobal currencies:
Revenues by currency (%)	Q3 14	Q2 14	Q1 14	FY 13	Q4 13	Q3 13
AUD	7.9	7.6	7.9	8.3	8.1	8.3
EURO	10.4	10.1	9.8	8.8	10.4	9.6
GBP	6.0	5.9	5.6	6.4	6.1	6.2

Q3 2014

Geographical segment – growth

North America declined by 0.8% sequentially and in constant currency.

Europe grew by 5.5% sequentially; and 3.5% in constant currency.

India grew by 9.2% sequentially; and 8.1% in constant currency.

Rest of the world grew by 4.9% sequentially; and 5.2% in constant currency.

Industry segment – growth

FSI grew by 2.0% sequentially; and 1.5% in constant currency.

MFG grew by 0.1% sequentially; and declined by 0.3% in constant currency.

RCL grew by 3.4% sequentially; and 2.9% in constant currency.

ECS grew by 0.8% sequentially; and 0.3% in constant currency.

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