Infosys Ltd. — Interim / Quarterly Report 2016

Oct 12, 2015

	しゃくらく
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	こうちょう イン・スプレー
ntosys

CIN: L85110KA1981PLC013115

Website: www.infosys.com; email: investors@infosys.com; T: 91 80 2852 0261; F: 91 80 2852 0362 Regd. Office: Electronics City, Hosur Road, Bangalore - 560 100, India.

Audited financial results of Infosys Limited for the quarter and half-year ended September 30, 2015.

				(in ₹ crore, except equity share and per equity share data)
Particulars	Quarter ended September 30,	Quarter ended June 30	Quarter ended September 30,	Half-year ended September 30		Year ended March 31,
	2015	2015	2014	$\frac{2015}{ }$	2014	2015
Income from software services and products	13,525	12,738	11,863	26,263	23,182	47,300
Expenses:
Employee benefit expenses	6,985	6,817	6,340	13,802	12,574	25,115
Deferred consideration pertaining to acquisition	\$	Ş	ន្ល	5	113	219
Cost of technical sub-contractors	1,035	965	679	2,000	1 296	2,909
Travel expenses	425	432	366	857	706	1,360
Cost of software packages and others	335	291	198	626	466	979
Communication expenses	80	8	3	160	178	384
Professional charges	123	132	2	255	134	396
Depreciation and amortization expense	272	252	251	524	443	913
Other expenses	423	449	464	872	$\overline{9}3$	1.976
Total expenses	9,724	9,464	8,527	19,187	16,841	34,251
Profit from operations before other income	3,801	3,274	3,336	7,076	6,341	13,049
Other income	774	719	333	1,493	1,623	3,337
Profit before exceptional item and tax	4,575	3,993	4,169	8,569	7,964	16,386
Profit on transfer of business (1)	3,036		412	3,036	412	412
Profit before tax	7,611	3,993	4,581	11,605	8,376	16,798
Tax expense	1,305	1,096	1,216	2,401	2,291	4,634
Net Profit for the period	6,306	2,897	3,365	9,204	6,085	12,164
Paid-up equity share capital (par value ₹5/- each fully paid) (2)	1,148	1,148	286	1,148	286	$\cdot$ 574
	47,494	47,494	41806		41806
Earnings per share (par value ₹5/- each) # Reserves and surplus				47494		47,494
Before exceptional item
Basic	14.24	12.61	12.92	26.85	24.82	51.17
Diluted	14.24	12.61	12.92	26.85	24.82	51.17
After exceptional item
Basic	27.45	12.67	14.72	40.07	26.62	52.96
Diluted	27.45	12.61	14.72	40.07	26.62	52.96
Total Public Shareholding *
Number of shares	159,98,70,171	160,06,77,720	39,66,88,097	159,98,70,171	39,66,88,097	80,65,15,515
Percentage of shareholding	69.65	69.69	69.08	69.65	69.08	7023
Promoters and Promoter Group Shareholding
Pledged / Encumbered
Number of shares
Percentage of shares (as a % of the total shareholding of promoter and promoter group)
Percentage of shares (as a % of the total share capital of the company)
Non-encumbered
Number of shares	30,04,31,272	30.04,31,272	9,14,08,078	30,04,31,272	9,14,08.078	15,02,15,636
Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00	100.00	100.00	100.00	100.00	100.00
Percentage of shares (as a % of the total share capital of the company)	13.08	13.08	15.92	13.08	15.92	13.08
$^{\overline{\eta}}$ Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary.

⁽²⁾ net of treasury shares as at September 30, 2014

# adjusted for bonus issues wherever applicable

* Total Public Shareholding as defined under Clause 40A of the Listing Agreement excludes shares held by the founders and American Depository Receipt Holders and as at September 30, 2015, June 30,
2015 and March 31, 2015,

1. The audited financial statements for the quarter and half-year ended September 30, 2015 have been taken on record by the Board of Directors at its meeting held on October 12, 2015. The statutory
   auditors have expressed

2. Senior Management Changes

Mr. Rajiv Bansal, Executive Vice President and the Chief Financial Officer (CFO) of Infosys since October 2012, has informed the company of his intention to resign. He will be replaced by M.D. Ranganath
effective end of bu

3. Investments

On April 24, 2015, the Board of Directors of Infrosys has authorized the Company to execute a Business Transfer Agreement and related documents with EdgeVerve, to transfer the business of Finacle and
Edge Services. Post th

1. The Board approved the 2015 Incentive Compensation Plan, amending the existing 2011 RSU Plan. The 2011 RSU plan has been amended in accordance with the SEBI (share based employee benefits)
   regulations, 2014 and will be

The Board further approved the issuance of new shares, so as not to cumulatively exceed 2% of the shares outstanding, in order to support grants made over time under the 2015 Incentive Compensation
Plan. Approval to issue

5. Information on dividends for the quarter and half-year ended September 30, 2015

$(n, \tilde{r})$ The Board declared an interim dividend of ₹10/- per equity share . The record date for the payment of interim dividend is October 19, 2015. The interim dividend will be paid on October 21, 2015. The interim
dividend decla

						Ì
Particulars	Quarter ended September 30,	Quarter ended June 30,	September 30,	Quarter ended Half-year ended September 30,		March 31, Year ended
	2015	2015	2014	2015	2014	2015
ividend per share (par value ₹5/- each)
Interim dividend	10.00		30.00 (1)	10.00	$30.00^{(1)}$	30.00 (1)
Final dividend	ī	Ï	î	t	í	$29.50^{(2)}$
1755年7月12日 - 1755年12月 l . . . .

$^{(7)}$ not adjusted for bonus issues on December 3, 2014 and June 17, 2015
(2) not adjusted for bonus issue on June 17, 2015

The final dividend of ₹29.50/- per equity share (not adjusted for bonus issue on June 17, 2015) for fiscal 2015 was approved by the shareholders at the Annual General Meeting of the Company held on June
22, 2015 and the sa

1. Other Information

						$(m \, 7 \, core)$
Particulars	Quarter ended September 30,	Quarter ended June 30,	Quarter ended September 30,	Half-year ended September 30,		Year ended March 31
	2015	2015	2014	2015	2014	2015
Staff costs	6.985	6.817	6340	13.802	12.574	25.115
Items exceeding 10% of aggregate expenditure
Details of other income:
Interest received on deposits with banks and others	603	540	636	1.245	1244	2.592
Dividend received on investment in mutual fund units	å	22	ą	$\frac{4}{1}$	œ	146
Gain on sale of investment						ă
Miscellaneous income, net	5	$\frac{8}{3}$	$\frac{8}{1}$	$\overline{6}$	শ্ৰ	3
Gains / (losses) on foreign currency, net	71	$\overline{25}$	0 0	\$	266	525
Total	774	719	833	L67 1	1,623	3,337

1. Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended September 30, 2015

Nature of complaints received	Opening balance	Additions	Disposal	Closing balance
Non-receipt of Dividend / Annual Report		ន ភ	$\frac{8}{5}$
8. Statement of assets and liabilities (Standalone-Audited)
í				(in $\vec{\tau}$ crore)

		$(in \in \text{core})$
Particulars	As at
	2015	September 30, March 31, 2015
EQUITY AND LIABILITIES
Shareholders' funds
Share capital	1,148	574
Reserves and surplus	53.363	47,494
Sub-total-Shareholders' funds	54,511	48,068
Non-current liabilities
Deferred tax liabilities (net)	ŧ
Other long-term liabilities	$\overline{21}$	္က
Sub-total-Non-current liabilities	121	నె
Current liabilities
Trade payables	275	124
Other current liabilities
Short-term provisions	7,002 7,021	5,546
Sub-total-Current liabilities		8,045
	14 708	イマ ワイド

Short-term provisions	7,002	8,045
Sub-total-Current liabilities
	14,298	13,715
TOTAL - EQUITY AND LIABILITIES	68,930	61,813
ASSETS
Non-current assets
Fixed assets	8,502
Non-current investments		8,116
Deferred tax assets (net)	7,227	6,108
	399	33
Long-term loans and advances	5,256	4,378
Other non-current assets	$\overline{4}$
Sub-total-Non-current assets		$\overline{28}$
Current assets	21,398	19,061
Current investments
Trade receivables	537	749
Cash and cash equivalents	9,256	8,627
Short-term loans and advances	26,863	27,722
	10,876	5,654
Sub-total-Current assets	47,532	42,752
TOTAL - ASSETS	68,930	61,813
The above disclosure is in compliance with clause 41(V)(h) and Annexure IX of the Listing Agreement. The disclosure is an extract of the audited Standalone Balance Sheet of Infosys Limited as at September 30, 2015

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$\sim$ $^{-1}$ $_{\rm B}$

						(in ₹ arore)
Particulars	Quarter ended September 30	Quarter ended June 30,	Quarter ended September 30	Half-year ended September 30,		Year ended March 31
	2015	2015	2014	2015	2014	2015
Revenue by industry segment
Financial Services and Insurance (FSI)	4.418	4,353	3,992	8,771	7,888	16, 175
Manufacturing (MFG)	3,123	2,847	2,537	5,970	4,976	10,230
Energy & utilities, Communication and Services (ECS)	2663	2,501	2,534	5,164	4,823	9,756
Retail, Consumer Packaged Goods and Logistics (RCL)	2,399	2,197	2,097	4,596	4,159	8,369
Life Sciences and Healthcare (LSH)	922	840	703	1,762	1,336	2,770
Total	13,525	12,738	11,863	26,263	23,182	47,300
Less: Inter-segment revenue
Net revenue from operations	13.525	12,738	11,863	26,263	23,182	47,300
Segment profit before tax and depreciation
Financial Services and Insurance (FSI)	1,316	1,235	1,211	2,552	2,352	4,905
Manufacturing (MFG)	884	747	719	1,631	1,395	2,798
Energy & utilities, Communication and Services (ECS)	882	685	796)	1,568	1,398	2,920
Retail, Consumer Packaged Goods and Logistics (RCL)	717	$\frac{1}{2}$	662	, 359	1,300	2,620
Life Sciences and Healthcare (LSH)	274	218	199	490	339	723
Total	4,073	3,526	3,587	7,600	6,784	13,966
Less: Other unallocable expenditure	272	252	251	524	43	917
Add: Unallocable other income	774	719	833	1,493	1,623	3,337
Profit before exceptional item and tax	4,575	3,993	4,169	8,569	7,964	16,386
Exceptional item (1)	3,036		412	3,036	412	412
Profit before tax	7,611	3,993	4,581	11,605	8,376	16,798
(1) Exceptional item perfains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary

Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary.

Notes on segment information:

Primary segments

The Company's operations predominantly relate to providing end-to-end business to enable dients to enhance business performance. Revenues represented along industries served constitute the
primary basis of the segmental in

Segmental capital employed

Assets and liabilities used in the company's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not
practicable to provide

By order of the Board for Infosys Limited

October 12, 2015 Bangalore, India

Chief Executive Officer and Managing Director

Dr. Vishal Sikka

$\mathcal{L}^{\circ}$

Certain statements in this nelses concerning our future growth monography and the system of the consident index in the formula of the consideration of the same independent in the formula of the final point of the sease con