Infosys Ltd. — Interim / Quarterly Report 2016

Jan 14, 2016

Infosys Limited CIN : L85110KA1981PLC013115

Regd. Office: Electronics City, Hosur Road, Bangalore 560 100, India.

Website: www.infosys.com ; email: investors@infosys.com ; T: 91 80 2852 0261 ; F: 91 80 2852 0362

Extract of Audited consolidated financial results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2015 prepared in compliance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

			(in`crore)
	Quarter ending	Nine months ending	Quarter ending December
Particulars	December 31,	December 31,	31,
	2015	2015	2014
Revenues	15,902	45,891	13,796
Net profit	3,465	9,894	3,250
Paid-up equity share capital (par value`5/- each, fully paid)	1,144	1,144	572
Share premium, retained earnings and other components of equity	54,191	54,191	47,244
Earnings per share (par value`5/- each) #
Basic	15.16	43.29	14.22
Diluted	15.16	43.29	14.22

adjusted for bonus issues wherever applicable

Notes:

1. The audited consolidated financial statements for the quarter and nine months ended December 31, 2015 have been taken on record by the Board of Directors at its meeting held on January 14, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited consolidated financial statements. The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

2. Changes to the Board

i. On January 14, 2016, the Board appointed Dr. Punita Kumar Sinha as an independent director with immediate effect.

ii. Ms. Carol M. Browner resigned as member of the Board effective November 23, 2015. The Board placed on record its deep sense of appreciation for the services rendered by her during her tenure as a director.

iii. The Board recommended the re-appointment of Prof. Jeffrey S. Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016 to hold office up to April 13, 2018, and not be liable to retire by rotation. Prof. Lehman’s current term of office as an Independent Director expires on April 13, 2016. The appointment is subject to the approval of the shareholders.

3. Investments

On November 16, 2015, Infosys has acquired 100% membership interest in Noah Consulting , LLC (Noah) , a leading provider of advanced information management consulting services for the oil and gas industry. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $33 million (approximately 216 crore), contingent consideration of up to $5 million (approximately 33 crore) and an additional payout of up to $32 million (approximately `212 crore).

4. Audited financial results of Infosys Limited (Standalone Information)

4. Audited financial results of Infosys Limited (Standalone Information)
			(in`crore)
Particulars	Quarter ended	Nine months ending	Quarter ending December
	December 31,	December 31,	31,
	2015	2015	2014
Revenues	13,562	39,825	12,192
Profit before exceptional item and tax	4,376	12,945	4,252
Profit on transfer of business*	-	3,036	-
Profit before tax	4,376	15,981	4,252
Profit for the period	3,183	12,387	3,055

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

The above is an extract of the detailed format of Quarterly Financial Results filed with Stock Exchanges under Regulation 33 of the SEBI ( Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Stock Exchange website www.nseindia.com and www.bseindia.com and on the Company's website www.infosys.com

Certain statements in this advertisement concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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, 2015. These filings are available at 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. In addition, please note that the date of this advertisement is January 14, 2016, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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 unless it is required by law.