Friday, January 9, 2015


Infosys Limited


Press Release Excerpts

Infosys (NSE, BSE: INFY) Announced Results for the Quarter ended December31, 2014

Q3  revenues at Rs.13,796 crore;
Growth of 3.4 % QoQ; 5.9% YoY

Constant currency revenue growth of 2.6% QoQ in US dollar terms

Operating margins at 26.7%; increase of 60 bps QoQ; 170 bps YoY

Net profit at Rs.3,250 crore; growth of 5.0 % QoQ; 13.0 % YoY

Volume growth of 4.2% QoQ (best in 3 years) ; 11.0%YoY

FY 15 revenue guidance maintained 7% - 9% at Sep 30th exchange rates

Financial Highlights

Consolidated results
under (IFRS for Q/E December 31, 2014

 Revenues were Rs.13,796 crore for the quarter ended December 31, 2014; QoQ growth was 3.4%; YoY growth was 5.9%

 Net profit was Rs.3,250 crore for the quarter ended December 31, 2014 ;  QoQ growth was 5.0% YoY growth was 13.0%

 Earnings per share (EPS) was Rs.28.44 for the quarter ended December 31, 2014 QoQ growth was 5.0 % YoY growth was 13.0%

Liquid assets including cash and cash equivalents, available - for-sale financial assets,  certificates of  deposits and government bonds were  Rs.34,873 crore  as on December 31, 2014  as compared to  Rs.33,616 crore 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 Rs.254 crore 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”

Business Highlights

Over this quarter, we have been actively planning and executing the elements required to realize our strategy of renewing the core and innovating into new frontiers, based on a culture of learning and creativity. We are seeing strong traction and acceptance of our new strategy with clients , as we continue to invest in strategic partnerships, education and automation.
 Deutsche Bank selected Infosys as one of its strategic partners to help consolidate and renew its enterprise application landscape with the benefits of cloud re-platforming, mobile access, analytics and other operational efficiencies.
 A global software products company has chosen Infosys to help renew its core Finance, HR and Legal IT platforms. Infosys, through a multi-year partnership, will leverage its expertise in software development and engineering to co-innovate with the client.
 We have covered over 9,000 employees across the company with design thinking training; more than 400 of these are at senior levels. We have gone further and got our clients to embrace design thinking concepts. We currently have a pipeline of workshops for over 25 clients planned.
 A financial services company selected Infosys as its primary partner for technology services worldwide. Infosys will build a next-generation authorization platform, new mobile payment solutions and help transform the client’s billing systems. Infosys will also renew the client’s application maintenance, testing and production support infrastructure.
 Infosys continues to expand and enter into strategic partnerships to offer new solutions to clients:
O Partnered  with Tableau Software, a global leader in rapid-fire, easy -to-use business analytics software , to integrate their offerings into the Big Data solutions offered to clients
O Entered into an engineering partnership with DreamWorks Animation, through which Infosys will deploy its global talent pool, available across Cloud, Big Data, Java and open source capabilities, to develop next
-generation solutions based on DreamWorks technology
 We have partnered with Stanford Global School of Business to create a comprehensive executive education program with a suite of business management skills and courses in corporate innovation processes. This initiative will include 200 executives, each of whom will participate in a part - time, year-long program over three years.
 We have established an Artificial Intelligence (AI) Center of Excellence to enable our developers to infuse AI and machine learning into the development and authoring experience to increase productivity multifold. Till date, 1,000 developer s have been trained on machine learning and we plan to train over 500 more every quarter.

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