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Friday, January 09, 2015

Infosys Announces Results for the Quarter Ended December 31, 2014

Financial Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2014

Quarter ended December 31, 2014

  • Revenues were $ 2,218 million for the quarter ended December 31, 2014
    • QoQ growth was 2.6% in constant currency; 0.8% in reported terms;
    • YoY growth was 5.6% 
  • Net profit was $ 522 million for the quarter ended December 31, 2014
    • QoQ growth was 2.2%
    • YoY growth was 12.7% 
  • Earnings per share (EPS) was $ 0.46 for the quarter ended December 31, 2014
    • QoQ growth was 2.2%
    • YoY growth was 12.2%
  • Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were $ 5,532 million as on December 31, 2014 as compared to $ 5,444 million as on September 30, 2014.
  • The company has expanded its Innovation Fund from the current $ 100 million to $ 500 million to support the creation of a global eco-system of strategic partners.
  • Infosys has pledged INR 254 crore ($ 40 million) for FY 15 towards Corporate Social Responsibility (CSR) which is primarily being carried out through the Infosys Foundation, its philanthropic arm. The Infosys Foundation is engaged in several programs aimed at alleviating hunger, promoting education, computing literacy, improving health, assisting rural development, supporting arts and helping the destitute.

Other Highlights

  • Infosys and its subsidiaries added 59 clients (gross) during the quarter.
  • Gross addition of 13,154 employees during the quarter.
  • 169,638 employees as on December 31, 2014 at Infosys and its subsidiaries.
  • Highest utilization (excluding trainees) in 11 years
  • Best volume growth in 3 years
  • Made 100% variable payout for Q3

"We are excited by several breakthrough results in Q3. Our 'renew and new' strategy, is being received well by our clients and our ecosystem and we are already seeing its early adoption," said Dr. Vishal Sikka, CEO and Managing Director. "Based on our strong performance, we are intensifying our efforts to deepen employee engagement, client ecosystem and strengthen our foundation of education as we build a next-generation services company that innovates for consistent profitable growth."

"During the quarter, we saw broad-based volume growth, increased utilization and strong client additions," said U. B. Pravin Rao, Chief Operating Officer. "We have made 100% variable payout for Q3 and have seen a further decline in attrition as a result of multiple initiatives taken over the last few quarters."

"Our sequential revenue growth in Q3 was adversely impacted to the extent of 1.8% due to USD appreciation against other major currencies," said Rajiv Bansal, Chief Financial Officer. "We made required investments keeping in mind short-term priorities and long-term aspirations."

To view an unabridged version of this press release, visit: http://www.infosys.com/investors/reports-filings/quarterly-results/2014-2015/q3/Documents/Q3-2015-AD.pdf

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