INFOSYS LIMITED
Q2FY 2013 (SEP,2012)
INFOSYS LTD has declared
good results for Q2 FY 2012 ending Sep, 2013.
HIGH LIGHTS
Consolidated results under
International Financial Reporting Standards (IFRS) for Q/E Sep 30, 2012 :-
Ø Revenues were Rs.9,858 Cr for Q/e
Sept 30, 2012; YoY growth was 21.7%
Ø Net profit after tax was Rs.2,369 Cr
for the quarter ended Sep 30, 2012; YoY growth was 24.3%
Ø
Earnings
per share (EPS) was Rs.41.46 for the quarter ended Sep 30, 2012; YoY growth was
24.3%
OTHER HIGH LIGHTS
Ø 39 clients were added during the
quarter by Infosys and its subsidiaries
Ø Gross addition of 10,420 employees
(net addition of 2,610) for the quarter by Infosys and its subsidiaries
Ø 1,53,761 employees as on Sep 30, 2012
for Infosys and its subsidiaries
Ø
Declared
an interim dividend of Rs.15 per share.
“Global economic uncertainties continue to face the
industry,” said S. D. Shibulal, CEO and Managing Director. “We have increased
employee wages, used some of our cash in a transformational acquisition of a
consulting business and enhanced our investment in R&D and solutions. These
initiatives will position us well in the industry and provide a strong platform
for future growth.”
While the performance certainly is lesser than that
of TCS, yet, it is certainly very good. The client acquisition is going apace.
From recent Statements of Infy Management personnel, we find, they are likely
to be more aggressive in bagging clients in future, competing with their
rivals.
As International and Indian economic environment improves,
INFOSYS will certainly be in a much better position than at present to bag more
contracts in number and value both.
Business outlook*
The company’s outlook (consolidated)
for the fiscal year ending March 31, 2013, under IFRS is as follows:
Ø Revenues are expected to be at least Rs.39,582
Cr; YoY growth of 17.3%
Ø
Earnings
per share (EPS) is expected to be at least Rs.160.61; YoY growth of 10.3%
Ø
*
Conversion 1 US$ = Rs.53.00
for rest of fiscal 2013
CURRENT MP : Rs.2388
52 week high/low
price : 2994.00/2060.55
OPERATING RESULTS TABLE
(Rs.Cr)
INFOSYS
|
Sep,2012
|
Sep,2011
|
Growth%
|
Jun,2012
|
%ofQ2FY13 on Q1FY13
|
Revenues
|
9,858
|
8,099
|
21.7
|
9,616
|
2.5
|
Cost Of Sales
|
6,102
|
4,744
|
28.6
|
5,810
|
5
|
Gross Profit
|
3,756
|
3,355
|
12
|
3,806
|
-1.3
|
Operating Expenses
|
|||||
Sell.&Mktg Exp
|
506
|
456
|
11
|
469
|
7.9
|
Admn.Exp.
|
653
|
618
|
5.7
|
644
|
1.4
|
TotalOptgExp
|
1,159
|
1,074
|
7.9
|
1,113
|
4.1
|
Optg Pft
|
2,597
|
2,281
|
13.9
|
2,693
|
-3.6
|
OtherIncome
|
706
|
387
|
82.4
|
476
|
48.3
|
Profit Bef.I.tax
|
3,303
|
2,668
|
23.8
|
3,169
|
4.2
|
IncomeTax
|
934
|
762
|
22.6
|
880
|
6.1
|
Net Proft
|
2,369
|
1,906
|
24.3
|
2,289
|
3.5
|
E.P.S.
|
|||||
Basic
|
41.46
|
33.36
|
24.3
|
40.06
|
3.5
|
Diluted
|
41.46
|
33.36
|
24.3
|
40.06
|
3.5
|
REVENUE PERCENTAGE (%)
BY SERVICE OFFERING
BY SERVICE OFFERING
SERVICES
|
Q2FY13
|
Q1FY13
|
Q2FY12
|
LTM0912
|
LTM0911
|
BusinessIT Services
|
64.5
|
64
|
63.6
|
63.7
|
62.5
|
ApplicationDevlop.
|
17
|
17.1
|
17.2
|
17
|
16.3
|
ApplicationMtcs
|
21.4
|
20.9
|
21.6
|
21.3
|
22.1
|
Infra.MngmntServ.
|
6.8
|
6.6
|
5.7
|
6.4
|
5.9
|
TestingServices
|
8.6
|
8.3
|
8.2
|
8.2
|
7.7
|
ProductEngg.Serv.
|
3.4
|
3.5
|
3.4
|
3.5
|
2.9
|
BusinessProc.Mngt
|
4.7
|
4.9
|
4.7
|
4.7
|
4.8
|
Others
|
2.6
|
2.7
|
2.8
|
2.6
|
2.8
|
Consul,PkgImpl.Etc
|
30
|
29.9
|
31.2
|
30.4
|
31.6
|
Products,P/Fs etc
|
5.5
|
6.1
|
5.2
|
5.9
|
5.9
|
Products
|
3.8
|
4.5
|
4.2
|
4.4
|
4.9
|
BPMPlatform
|
1.3
|
1.3
|
0.7
|
1.2
|
0.7
|
Others
|
0.4
|
0.3
|
0.3
|
0.3
|
0.3
|
Total
|
100
|
100
|
100
|
100
|
100
|
REVENUE %
BY INDUSTRY
BY INDUSTRY
INDUSTRY
|
Q2FY13
|
Q1FY13
|
Q2FY12
|
LTM0912
|
LTM0911
|
BFSI
|
33.7
|
34.3
|
35.3
|
34.4
|
35.7
|
Bnkg&F/Ssanking
|
27
|
27.7
|
28.2
|
27.5
|
28.2
|
Insurance
|
6.7
|
6.6
|
7.1
|
6.9
|
7.5
|
Manufacturing
|
22.1
|
22
|
20.2
|
21.4
|
20.1
|
Retail/Life Scns
|
24
|
23.7
|
22.9
|
23.5
|
22
|
Retail&CPG
|
17
|
16.9
|
15.6
|
16.2
|
15.2
|
Trans &Logistics
|
1.7
|
1.7
|
1.7
|
1.8
|
1.9
|
LifeScncs
|
3.9
|
3.7
|
3.8
|
3.9
|
3.7
|
Healthcare
|
1.4
|
1.4
|
1.8
|
1.6
|
1.2
|
Energy,comn Utility
|
20.2
|
20
|
21.6
|
20.7
|
22.2
|
Energy,Utility
|
5.3
|
4.6
|
5.7
|
5.5
|
5.8
|
Telecom
|
9.9
|
10.1
|
10.4
|
10
|
11.3
|
Others
|
5
|
5.3
|
5.5
|
5.2
|
5.1
|
Total
|
100
|
100
|
100
|
100
|
100
|
Geographical segment – growth
Ø North
America grew by 2.2% both sequentially and in constant currency.
Ø Europe grew
by 4.7% sequentially; and 5.1% in constant currency.
Ø India
declined by 15.4% sequentially
Ø
Rest of the world grew by 3.6% sequentially; and 1.8%
in constant currency.
Industry segment – growth
Ø FSI grew by 0.6% sequentially; and 0.3% in constant
currency.
Ø MFG grew by 2.8% sequentially; and 2.9% in constant
currency.
Ø RCL grew by 3.9% both sequentially and in constant
currency.
Ø ECS grew by 4.1% sequentially; and 3.7% in constant
currency.
CLIENT DATA
Number Of clients
|
Q2FY13
|
Q1FY13
|
Q2FY12
|
FY12
|
FY11
|
Active
|
715
|
711
|
647
|
694
|
620
|
Added During the Period (Gross)
|
39
|
51
|
45
|
172
|
139
|
Number Of Mln $ Clients
|
|||||
1 Mln $ +
|
413
|
403
|
388
|
399
|
366
|
5 Mln $ +
|
205
|
199
|
188
|
190
|
187
|
10 Mln $ +
|
134
|
132
|
128
|
132
|
126
|
20 Mln $ +
|
82
|
83
|
80
|
79
|
73
|
30 Mln $ +
|
61
|
64
|
59
|
64
|
53
|
40 Mln $ +
|
52
|
53
|
47
|
50
|
41
|
50 Mln $ +
|
40
|
41
|
35
|
40
|
28
|
60 Mln $ +
|
32
|
31
|
25
|
28
|
24
|
70 Mln $ +
|
22
|
24
|
21
|
23
|
19
|
80 Mln $ +
|
19
|
18
|
17
|
17
|
15
|
90 Mln $ +
|
14
|
16
|
14
|
16
|
11
|
100 Mln $ +
|
11
|
12
|
11
|
13
|
11
|
200 Mln $ +
|
3
|
3
|
2
|
2
|
2
|
300 Mln $ +
|
–
|
1
|
1
|
1
|
–
|
Client Contr.to Rev.
|
|||||
TopClient
|
4.00%
|
4.10%
|
4.60%
|
4.30%
|
4.70%
|
Top 5 Clnts
|
16.00%
|
16.20%
|
15.90%
|
15.50%
|
15.40%
|
Top10 Clnts
|
25.40%
|
25.30%
|
25.20%
|
24.60%
|
25.70%
|
RepeatBusiness
|
98.20%
|
99.10%
|
98.50%
|
97.80%
|
98.00%
|
ActsReceivable-LTM days
|
65
|
64
|
61
|
60
|
63
|
Patents
During the second quarter, Infosys applied for 33 patent
applications in India and the U.S. With this, Infosys has an aggregate of 533
unique patent applications (at various prosecution stages) in India, U.S. and other
jurisdictions and has been granted 56 patents by the United States Patent and
Trademark Office and two patent by Luxembourg patent office.
Liquidity
As on Sep 30, 2012, cash and cash equivalents, including
investments in available-for-sale financial assets, certificates of deposits
and government bonds was `22,570 Cr( `18,601 Cr as on Sep 30, 2011).
“Our operating cash flows continue to be strong while
our cash and cash equivalents crossed US $4bn,” said V. Balakrishnan, Member of
the Board and Chief Financial Officer. “We are focused on high quality growth
despite global currency and economic volatility.”
Senior
Management Changes
After six years at the helm of the Company’s finances,
Mr. V. Balakrishnan, Member of the Board and CFO, will be giving up his
position as CFO from October 31, 2012. Mr. Rajiv Bansal, currently Vice
President –Finance, will take over as CFO from November 1, 2012.
Mr. V. Balakrishnan will continue as a member of the
Board and will be responsible for three key businesses -Business Process
Management (or Infosys BPO), Finacle™ and the India Business Unit.
“Rajiv Bansal has
been a very bright star in the Finance Department. He has been with Infosys for
13 years and has been heading the finance function under Bala for the past four
years. We wish this outstanding professional the best in his new role,” said
Kris Gopalakrishnan.
Interestingly, similar change in the Finance segment is
taking place in TCS too in Feb’2013.
As earlier said, it is likely that INFOSYS will compete
much better (for Clients) in future with its competitors and reward its
investors much better.
* * *
E N D * * *
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