INFOSYS Limited
Infosys Ltd has announced
Results for the Quarter and Year ended March 31, 2014.
Ø FY
14 revenue growth doubled to 11.5% in USD terms; increased to 24.2% in INR
terms;
Ø Q4
operating margins expand 50 bps sequentially to 25.5%;
Ø Dividend
pay -out ratio increased to 40% of post-tax profits;
Ø FY
15 revenues expected to grow 7%-9% in USD terms; 5.6%-7.6% in INR terms
Financial Highlights
Consolidated results for
the year and quarter Ended March 31, 2014
Year ended March 31, 2014
Ø Revenues
were Rs.50,133 crore for the year ended March 31, 2014 YoY growth was 24.2%
Ø Net
profit was Rs.10,648 crore for the year
ended March 31, 2014 YoY growth was 13.0%
Ø Earnings
per share (EPS) was Rs.186.35for the year ended March 31, 2014 YoY growth was
13.0%
Quarter ended March 31, 2014
Ø Revenues
were Rs.12,875 crore for the quarter ended March 31, 2014 QoQ decline was 1.2%;
YoY growth was 23.2%
Ø Net
profit was Rs.2,992 crore for the quarter ended March 31,2014 QoQ growth was
4.1% ;YoY growth was 25.0%
Ø Earnings
per share (EPS) was Rs.52.36 for the quarter ended March 31, 2014 QoQ growth was
4.1% ; YoY growth was 25.0%
Liquid assets including
cash and cash equivalents, available-for-sale financial assets, certificates of
deposits and government bonds were Rs.30,251 crore as on March 31, 2014 versus Rs.27,440
crore as on December 31, 2013 and Rs.23,958 crore as on March 31, 2013 .
The Board of Directors
recommended a final dividend of Rs.43 per share for fiscal 2014. The Register
and Share Transfer Books of the Company will be closed from May 31, 2014 to
June 14, 2014 (both days inclusive).
The Company‟s
current policy is to pay dividends up to 30% of post -tax
profits. The Board has Decided to increase the dividend pay-out ratio to up to
40% of post-tax profits effective fiscal 2014
Other
highlights:
Ø Infosys
and its subsidiaries added 50 clients during the quarter and 238 during the
year .
Ø Gross
addition of 10,997 employees during the quarter and 39,985 during the year by
Infosys and its subsidiaries .
Ø 160,405
employees as on March 31, 2014 for Infosys and its subsidiaries
“I am pleased that we have
been able to double our growth rate for the full year compared to last year,
though performance in the last quarter of FY 14 has been disappointing.” said
S. D. Shibulal, CEO and Managing Director.
“We have guided for a
revenue growth of 7%-9% next year and remain firmly focused on building the
growth momentum by making all the necessary investments in our business.”
“Our cash and cash
equivalents crossed Rs.30,000 crore during the quarter. We have increased the Dividend
payout ratio to up to 40% of post-tax profits effective FY 14 to enhance
returns for our shareholders.” Said Rajiv Bansal, Chief Financial Officer.
Outlook
The company‟s
outlook (consolidated) for the fiscal year ending March 31,
2015, under IFRS is as follows:
Revenues are expected to
grow 5.6%-7.6%
Conversion 1 US$ = Rs.60.00
Business Highlights
Large outsourcing agreements
signed with enterprises across Energy, Communications, Financial Services,
Government and Healthcare sectors .
Selected by Volvo Cars as
a strategic supplier to provide application development services for its global
operations.
Won an outsourcing deal
from a large European bank to manage its overall Applications Portfolio.
Extended our contract with
District of Columbia to implement the next phase of its health insurance
marketplace (DC Health Link). This includes modernizing its legacy eligibility
system and additional health and social programs.
Engaged by a top
healthcare solution provider to enhance its flagship revenue cycle management product
and help its customers comply with regulatory requirements.
Chosen by a French global manufacturing
conglomerate to build an Agricultural Research Tool for its coffee platform and
help the company monitor and report data around production and usage metrics.
Signed a 3-year contract
to extend digital marketing support worldwide under a managed services model
for a global grocery manufacturing and processing conglomerate.
Sustained business
momentum across advanced technology solutions with 20 new deals signed for Cloud
and Big Data offerings ;
15 new deals signed for
mobility offerings and 12 new deals signed for Engineering Services .
Continued expansion of Infosys
Finacle™globally with 7 new wins and 11 go-lives at banks across Europe, South
America, Africa, Middle East and Asia Pacific.
Set up a 100 seat delivery
center in Araraquara, Brazil to provide SAP Application Management services to
Citrosuco, the world‟s leading orange juice
producer.
Commenced work on 4 new
campuses in the Indian cities of Indore, Mohali, Noida and Nagpur .
Applied for 18 unique
patent applications in India and the USA during the fourth quarter,adding to a
total of 541 patent applications undergoing various stages of patent
prosecution in India, the U.S. and other jurisdictions.
Granted 153 patents by the
United States Patent and Trademark Office, 3 patents by the Luxembourg Patent Office
and 1patent by the Australian Patent Office.
Board Changes
The Board appointed Ms
Carol M Browner as an Additional Director of the Company. Her appointment shall
be effective on the date Ms. Browner receives her Director Identification
Number from the Ministry of Corporate
Affairs
Ms. Carol M. Browner
served as Director of the White House Office of Energy and Climate Change
Policy in the Obama administration from 2009 to 2011. She serves as a
Distinguished Senior Fellow at the center for American Progress and as Counselor
to the Albright Stonebridge Group. Ms. Browner previously served as Administrator
of the Environmental Protection Agency (EPA) during the Clinton administration
from 1993 to 2001 and was the longest - serving administrator in the history of
the EPA . She graduated from the University of Florida and the University of
Florida College of Law. Ms. Browner headed the Florida Department of Environmental
Regulation from 1991 to 1993. Earlier in her career, she worked in the Florida
House of Representatives and served as legislative assistant to US Senators
Lawton Chiles and Al Gore. She serves as director and advisor to several non - profits
and private companies, including as director on the boards of Bunge Limited,
Center for American Progress and as chair of the Board for the League of
Conservation Voters, as advisor to Harvest Power and Opower, as Commissioner of
the Global Oceans Commission.
About Infosys Ltd
Infosys is a global leader
in consulting, technology and outsourcing solutions. We enable clients, in more
than 30 countries, to stay a step ahead of emerging business trends and
outperform the competition. We help them transform and thrive in a changing
world by co-creating breakthrough solutions that combine strategic insights and
execution excellence.
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