Infosys (NYSE: INFY) Announces Results for the Quarter Ended September 30, 2016

Infosys

Infosys (NYSE: INFY) Announces Results for the Quarter Ended September 30, 2016

PR66145

BANGALORE, Oct. 14 /PRNewswire=KYODO JBN/ --

Q2 sequential revenue growth at 3.5% in USD terms; 3.9% in constant currency

terms

Q2 year on year revenue growth at 8.2% in USD terms; 8.9% in constant currency

terms

H1 year on year revenue growth at 9.5% in reported terms; 10.5% in constant

currency terms

Operating margins expanded 80 bps sequentially to 24.9%

Volume growth at 4.0% during the quarter

Q2 Utilization excluding trainees up by 200 bps sequentially to 82.5%

FY 17 revenue guidance revised to 8.0% - 9.0% in constant currency  

Financial Highlights:  

Consolidated results under International Financial Reporting Standards (IFRS)

for the quarter ended September 30, 2016

Quarter ended September 30, 2016

Revenues were $2,587  million for the quarter ended September 30, 2016

QoQ growth of 3.5% in reported terms; 3.9% in constant currency terms

YoY growth of 8.2% in reported terms; 8.9% in constant currency terms  

Operating profit was $644 million for the quarter ended September 30, 2016

QoQ growth of 7.0%

YoY growth of 5.6%

Net profit was $539 million for the quarter ended September 30, 2016

QoQ growth of 5.5%

YoY growth of 3.8%

Earnings per share (EPS) was $0.24 for the quarter ended September 30, 2016

QoQ growth of 5.5%

YoY growth of 3.8%

Liquid assets including cash and cash equivalents and investments were $5,349

million as on September 30, 2016 as compared to $4,918 million as on June 30,

2016 and $4,894 million as on September 30, 2015.

The Board of Directors declared an interim dividend of INR 11 per share ($0.17

per ADS based on USD-INR rate of 66.62). The record date for interim dividend

is October 24, 2016 and the payment will be made on October 26, 2016

     (Logo: http://photos.prnewswire.com/prnh/20130122/589162 )

"We focused on strong execution in Q2 with our core IT services business

showing good progress on the strength of our innovation and operational

initiatives. While we continue to navigate an uncertain external environment,

we remain focused on executing our strategy and increasing momentum of our

software plus services model. Considering our performance in the first half of

the year and the near-term uncertain business outlook, we are revising our

revenue guidance." said Dr. Vishal Sikka, CEO. "Longer-term, I believe it's

increasingly clear that our industry's future lies in evolving from a

cost-based, people-only model, to one in which people are amplified by software

and AI, and are freed to innovate in areas that are strategic to our clients'

future. And in this all-important transformation, I am glad to see us make

continued progress."

"We had well-rounded growth during the quarter in our market segments. Our

delivery and support teams executed well on their plans for resource management

during the quarter, leading to an uptick in utilization." said U B Pravin Rao,

COO. "I am also pleased that the changes we made to employee engagement,

policies and rewarding high performers continue to help retain our high quality

workforce."

"Our margins expanded during the quarter on the back of further improvement in

operational efficiency." said M.D. Ranganath, CFO. "Operating cash flows for

the quarter were healthy and we effectively navigated a volatile currency

environment through prudent hedging."

Outlook*

The Company's revenue outlook (consolidated) for the fiscal year ending March

31, 2017, under IFRS is as follows:

Revenues are expected to grow 8.0% - 9.0% in constant currency*

The above constant currency guidance translates to 8.2% - 9.2% in USD terms

based on March 31st rates, 7.5% - 8.5% based on June 30th rates and 7.5% - 8.5%

based on September 30th rates

*FY 16 constant Currency rates - AUD/USD - 0.73; Euro/USD - 1.10; GBP/USD -

1.51

Currency rates as of March 31, 2016 - AUD/USD - 0.77; Euro/USD - 1.14; GBP/USD

- 1.44

Currency rates as of June 30, 2016 - AUD/USD - 0.75; Euro/USD - 1.11; GBP/USD -

1.35

Currency rates as of September 30, 2016 - AUD/USD - 0.76; Euro/USD - 1.12;

GBP/USD - 1.30

Board Changes  

On the recommendations of the Nomination and Remuneration Committee, the Board

of Directors inducted Mr. D.N. Prahlad as an Independent Director of the Board

effective October 14, 2016

D. N. Prahlad is the founder and CEO of Surya Software Systems Private Limited,

Bangalore. Surya focuses on products for financial risk management of financial

institutions in general and banks in particular. He is on the advisory board of

Computer Science and Automation Department of Indian Institute of Science,

Bangalore. Prahlad is a B.Sc. with honours in mathematics from Bangalore

University and B.E. (Electrical technology and Electronics) from Indian

Institute of Science, Bangalore.

Prior to founding Surya, Prahlad played a key role in the rapid growth of

Infosys, being associated with the company during its formative years.

Welcoming D.N. Prahlad, Mr. Seshasayee, Chairman of the Board said, "We are

delighted to welcome Prahlad, a distinguished technologist to the Board.

Prahlad brings with him, not only his deep knowledge of the Company, but also

sharp insights into the Industry".

Nomination and Remuneration Committee

The Board of Directors in their meeting held on October 14, 2016, on

recommendation of Nomination and Remuneration Committee, have approved the

revised annual compensation of Pravin Rao, Chief Operating Officer and Whole

Time Director of the Company, with effect from November 1, 2016, subject to the

approval of the shareholders. The compensation includes fixed compensation of

INR 4.62 crores per annum and a variable compensation of up to INR 3.88 crores

per annum. Additionally, based on fiscal 2016 performance, 27,250 restricted

stock units (RSU) and 43,000 stock options would be granted under 2015 Stock

Incentive Compensation Plan ( 2015 plan) approved by the shareholders in the

postal ballot dated March 31, 2016. These RSU and stock options would vest over

a period of 4 years which shall be exercisable within the period as approved by

the committee. The exercise price of the RSUs will be equal to the par value of

the shares and the exercise price of the stock options would be market price as

on the date of grant as approved by the shareholders. RSU and stock options, in

future periods, will be granted on achievement of performance conditions, as

may be decided by the Nomination and Remuneration Committee.

The Board of Directors in their meeting held on October 14, 2016, on

recommendation of Nomination and Remuneration Committee, have approved the

revised compensation structure of M.D. Ranganath, Mohit Joshi, Sandeep Dadlani,

Rajesh K Murthy, Ravikumar S., David Kennedy, Krishnamurthy Shankar and

Manikantha AGS with effect from November 1, 2016. The revised aggregate

compensation of the above individuals includes fixed compensation of INR 24

crores and variable compensation of upto INR 20 crores. Additionally, based on

fiscal 2016 performance, restricted stock units (RSU) of 245,750 and stock

options of 502,550 will be granted on November 1, 2016 under 2015 Stock

Incentive Compensation Plan (2015 plan) approved by the shareholders in the

postal ballot dated March 31, 2016. These RSU and stock options would vest over

a period of 4 years which shall be exercisable within the period as approved by

the committee. The exercise price of RSU will be equal to the par value of the

shares and the exercise price of the stock options would be market price as on

the date of grant. The Audit committee in their meeting held on October 13,

2016, resolved to include Mohit Joshi, Sandeep Dadlani, Rajesh K Murthy,

RaviKumar S., Krishnamurthy Shankar and David Kennedy as key managerial

personnel as defined under IndAS 24 - Related Party Disclosures effective from

the date of the meeting.  Vishal Sikka, Pravin Rao, M.D. Ranganath and

Manikantha AGS are key managerial personnel as defined under Section 2 (51) of

the Companies Act, 2013.

The Nomination and Remuneration Committee of the Board of Directors of Infosys

Limited at its meeting held on October 13, 2016, based on fiscal 2016

performance, approved the grant of upto 906,275 RSU and upto 943,810 stock

options which shall be made on November 1, 2016, to a total of upto 425

eligible and identified high-performing executives of the Company and its

subsidiaries under 2015 Stock Incentive Compensation Plan (2015 plan) approved

by the shareholders in the postal ballot dated March 31, 2016. The RSUs and

stock options shall vest over a period of 4 years from the date of grant, which

shall be exercisable within the period as approved by the committee. The

exercise price of the RSUs will be equal to the par value of the shares and the

exercise price of the stock options would be market price as on the date of

grant.

Business Highlights

We continued to execute on our Renew-New strategy through automation and

innovation, fueling this through our culture of learning and education.

Renew

In Q2, we deepened existing client relationships in core services, won large

traditional deals, and focused on driving automation and grassroots innovation

into every aspect of our service offerings through Infosys Mana and our Zero

Distance initiative.

"Data volumes continue to grow exponentially, and humankind now converts data

into knowledge at unprecedented rates, making it impossible to codify such

expertise and intelligence in software. Our systems need to learn. Those that

do also need to be put to some practical use. It seems that Infosys Mana is

doing just that." - Report title: Infosys Mana uses AI to extract knowledge

from processes and control business outcomes, Authors: Carl Lehmann, Katy Ring,

451 Research, Date: October 4, 2016

"Infosys is a preferred partner for development and support across our

portfolio of off-the-shelf and custom applications, including our most critical

business applications. We're keen to create an enterprise for the future by

leveraging AI and machine learning to solve business issues.  We've selected

Infosys Mana to help optimize these business processes and provide a better

experience for our users by driving automation, improving efficiencies,

increasing productivity, and reducing business process level disruptions, while

at the same time reducing the total cost of our IT operations." - Andy Bynum,

Corporate Vice President - IT, AMD

"We are very pleased to award Infosys the GPS L2 Application Maintenance &

Support Vendor Consolidation engagement. Infosys impressed us with the overall

depth of the solution and commitment to service transformation through use of

its Mana platform which covers automation, analytics and knowledge management.

We believe that this deal will help us achieve our objectives of driving

significant productivity improvements and optimizing and enhancing the

services. This is a major step forwards in the strategic relationship between

our organisations and we look forward to a successful journey in delivering the

program together." - Hans-Juergen Rieder, UBS Managing Director - Global

Production Services

"Beyond the millions of dollars that we're going to be saving here at APS, the

benefit is truly with our end customers in having a system that's going to be

flexible and nimble and meet all of their needs. Through our partnership with

Infosys and with this Zero Distance initiative we were able to solve complex

problems that the utility's been facing for some time." - Christine Gonzales,

Program Management Office Lead, Arizona Public Service

"What we're trying to do with world-class customer service is really reinvent,

completely transform and turn inside out the way we deliver customer service

here at Cisco. We're looking to use digitization to be able to simplify,

standardize, and automate many of the processes that drive work, so that we can

change the investment we have in people, so that they are then able to have

better conversations with a customer. Our largest savings has been 80% of

savings in terms of dollar spend, we've removed 2 million hours of customer

wait time in one particular process alone. It's been a great ride, we really

appreciate Infosys' flexibility and ability to change with us - I hope we

continue this partnership for the next 20 years." - Steve Power, Senior

Director, Global Service Offerings, CISCO

Gap Inc., a leading global specialty retailer, has chosen Infosys as its

primary technology services provider supporting its entire applications and

infrastructure portfolio. This critical milestone strengthens the 18 year

relationship between the two organizations even further.

New

In Q2, we continued to work with clients and partners on new areas, and new

frontiers. And we made Design Thinking central to every engagement.

"GE and Infosys have a shared vision for the merging of our physical and

digital worlds. As an early adopter of our Predix platform, we are partnering

with Infosys to foster co-innovation of new applications with advanced concepts

in digital twin, brilliant factory and AI. Our joint innovations will deliver a

range of services to customers, including Industrial Internet solutions and

applications to help companies simplify, automate and transform their

businesses." - Bill Ruh, Chief Executive Officer, GE Digital & Chief Digital

Officer, GE

"I have just returned from our recent visit with the Infosys design team in

Palo Alto along with 15 heads of marketing and customer experience from

Australian superannuation funds. Infosys delivered an incredible session of

learning around the theory and practice of design led thinking to develop a

leading customer experience strategy. The group thoroughly enjoyed the time we

spent with the team and have a framework they can take back into their business

and start to employ immediately." - Theresa Hoogland, Executive Manager

Strategy and Marketing, Australian Institute of Superannuation Trustees (AIST)

"Design Thinking helped bring the teams together for reimagining the

collaboration experience at USG Boral. It also helped them to think big and

then bring these thoughts together to achieve actionable insights in a really

short amount of time. Moreover, it was fun and engaging at the same time." -

Paul Monzella, Chief Financial Officer - USG Boral

"Infosys and Kohls are working together, using Design Thinking, and the Skava

digital platform to enhance experiences from the customers, associates and

overall Kohls perspective." - Ratnakar Lavu, Chief Digital Officer, Kohls

Skava, Panaya & EdgeVerve

This quarter we launched Skava Commerce, a new standard for modern,

mobile-first and modular e-commerce platforms to provide businesses a

future-ready architecture that will enable next generation shopping

experiences. Skava, an e-commerce startup acquired by Infosys, developed the

platform to help retailers to quickly launch new offerings, improve conversion

rates of digital channels, amongst other benefits, by leveraging flexible

cloud-based microservices and white label applications, along with artificial

intelligence (AI) and machine learning, natural language processing and virtual

reality (VR).

Infosys and TOMS Shoes are working together, to implement an omni-channel

platform leveraging Skava Commerce.

"In just 8 weeks, Skava and Vantiv worked collaboratively to launch the newly

improved Vantiv Advantage Program App. We extended and simplified the digital

engagement experience so Vantiv's partners could sell and grow their businesses

faster. Rather than converting an existing partner portal into the mobile app,

the Skava team took a step further and re-authored the entire application in

SkavaSTUDIO, which allowed the Vantiv team to take full ownership and control

of the app to publish updates and changes. The Skava team did a great job to

get us to the launch. We are now looking forward to getting this published in

the app stores and seeing the adoption. Stay tuned for mobile transformation at

Vantiv." - Balaji Devarasetty, Chief Technology Officer - Integrated Payments,

Vantiv LLC

Panaya

The COOP Group, one of the biggest Swiss retail trade and wholesale companies,

selected Panaya for a seamless migration to SAP HANA with its upgrade from EHP5

to EHP7. "With the support of Panaya's solution, we were able to import many

references into the system. We haven't done anything like that before. We were

able to ensure an overall better quality of the SAP system - even beyond the

upgrade. After the go live, there were no more critical errors. Our development

department was excited because they were able to start with the corrections

even after the first modification adjustment. For further upgrades we will

definitely cooperate with Panaya again." - Davyd Dappen, Manager IT Processes

Product Management ACES at COOP

EdgeVerve  

This quarter the EdgeVerve business delivered a strong performance with 48 wins

and 23 go-lives from both the Finacle and Edge suite of solutions across

various markets.

Finacle continues to be the solution of choice for new-generation digital

banking businesses. Building upon its success in the payments bank space, the

Finacle solution suite was chosen by Aditya Birla group for their upcoming

payments bank. EdgeVerve continued to gain strong traction for Edge products

with several new clients added this quarter across various solutions such as

AssistEdge, BrandEdge and TradeEdge.

This quarter Infosys Finacle also announced the global availability of its

industry leading Finacle Universal Banking Solution Suite on Huawei's

FusionCloud based cloud platform.

Culture

We continue to invest in education to help our employees maximize their

potential. We are enhancing our capabilities at the Infosys Global Education

Center and through partnerships with organizations such as Udacity.

"Udacity and Infosys share a similar vision for lifelong learning, that

education is no longer about years-long course work with a singular end goal,

but rather, learning is a lifelong endeavor in which we continuously renew

ourselves and expand the knowledge we already have, and learn entirely new

kinds of skills. With Nanodegrees in particular, we can drive rapid acquisition

of new skills when needed, for the most in-demand skills. As part of this

effort, we are excited to launch the Udacity FastTrack program exclusively for

Infosys, making available Udacity's online Nanodegree certifications for all

Infosys new-hires. We will complement Infosys' world class Mysore training

programs with Nanodegrees in several high demand and constantly evolving areas

such as user experience, mobile and web development to rapidly scale the skills

and expertise in these areas, and more. We are also excited to leverage the

deep expertise of Infosys to bring the critical hands-on course work to our

Nanodegrees through projects based on real-world experiences in the most sought

after skills in the industry." - Sebastian Thrun, Founder & President, Udacity

Awards & Recognition

Winner, Seven 2016 Oracle Excellence Awards

Leader, Infosys Finacle - 'The Forrester Wave(TM): Customer-Centric Global Banking

Platforms, Q3 2016' report

Winner, Infosys Finacle Omnichannel Hub - "Digital Banking 2016, Best System

Solution", Juniper Research

A Leader, IDC MarketScape: Worldwide Oracle Implementation Services 2016 Vendor

Assessment

Winner, 2016 European ISG Paragon award

Leader, Software Testing NelsonHall Vendor Evaluation & Assessment Tool (NEAT)

First Runner-Up, "Best Use of CEM Technology" for AssistEdge at the Customer

Experience Asia Excellence Awards, 2016 Singapore

A Leader, IDC MarketScape: WW Oil & Gas Professional Services 2016 Vendor

Assessment

Winner's Circle, HfS Blueprint Report: Energy Operations

Winner's Circle, HfS Blueprint Report: ServiceNow Services

Leader, OVUM Decision Matrix (ODM) - Selecting a Distributed Agile Delivery

Model for ADM Services, 2016-17

Leader and Star Performer, Everest Group Global Banking AO Service Provider

PEAK Matrix(TM) Assessment 2016

Leader, Everest Group IT Outsourcing Global Capital Markets PEAK Matrix(TM)

Assessment 2016

A Challenger in Gartner Magic Quadrant for IT Services for Communications

Service Providers, Worldwide

Beyond Business

We continue to contribute back to the communities in which we are present. In

India, through the Infosys Foundation, we have made several investments in the

areas of rehabilitation, healthcare, education and arts & culture. Some of the

initiatives this quarter include handing over a residential enclave of 200

houses to families that were rendered homeless in the aftermath of cyclone

HudHud in 2014, launching an Institute of Robotic Surgery in partnership with

Narayana Health, and funding travel stipends for top researchers at IIT

Kharagpur, as well as sponsoring a study about the antiquity of Indus Valley

undertaken by the institute.

Infosys Foundation USA supported quality computer science and Maker

professional development for teachers via CS PD Week, the CS for All Community

Giving program, and commitments announced at the White House Summit on

#CSforAll. Additionally, the Foundation announced new grants to support the

largest CS teacher organization (CSTA), recognize excellence in CS teaching

through Awards, and assist New York Academy of Sciences (NYAS).

About Infosys Ltd

Infosys is a global leader in technology services and consulting. We enable

clients in more than 50 countries to create and execute strategies for their

digital transformation. From engineering to application development, knowledge

management and business process management, we help our clients find the right

problems to solve, and to solve these effectively. Our team of 199,000+

innovators, across the globe, is differentiated by the imagination, knowledge

and experience, across industries and technologies that we bring to every

project we undertake.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise

thrive in the digital age.

Safe Harbor  

Certain statements in these results 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 and inability to

accurately predict economic or industry trends, 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,

2016. 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 release is October 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.

<start_indent>

Contact:

Investor Relations

Sandeep Mahindroo

+91 80 3980 1018

Sandeep_Mahindroo@infosys.com

Media Relations

Sarah Vanita Gideon, India

+91 80 4156 3373

Sarah_Gideon@infosys.com

<end_indent>

Infosys Limited and subsidiaries  

Unaudited Condensed Consolidated Interim Balance Sheets as of

(Dollars in millions except equity share data)

<start_table>

    

                                                         September 30,

                                                              2016          

March 31, 2016

                                                 ASSETS

                                         Current assets

                              Cash and cash equivalents            

4,763             4,935

                                    Current investments              

323                11

                                      Trade receivables            

1,737             1,710

                                       Unbilled revenue              

584               457

                   Prepayments and other current assets              

777               672

                       Derivative financial instruments               

13                17

                                   Total current assets            

8,197             7,802

                                     Non-current assets

                          Property, plant and equipment            

1,681             1,589

                                               Goodwill              

566               568

                                      Intangible assets              

136               149

                               Investment in associates               

15                16

                                Non-current investments              

289               273

                             Deferred income tax assets               

95                81

                                      Income tax assets              

788               789

                               Other non-current assets              

108               111

                               Total non-current assets            

3,678             3,576

                                           Total assets           

11,875            11,378

                                 LIABILITIES AND EQUITY

                                    Current liabilities

                                         Trade payables               

46                58

                       Derivative financial instruments                

-                 1

                         Current income tax liabilities              

578               515

                                        Client deposits                

2                 4

                                       Unearned revenue              

222               201

                           Employee benefit obligations              

216               202

                                             Provisions               

93                77

                              Other current liabilities              

929               940

                              Total current liabilities            

2,086             1,998

                                Non-current liabilities

                        Deferred income tax liabilities               

36                39

                          Other non-current liabilities               

23                17

                                      Total liabilities            

2,145             2,054

                                                 Equity

      Share capital- INR 5 ($0.16) par value 2,400,000,000

       (2,400,000,000) equity shares authorized, issued

      and outstanding 2,285,651,730 (2,285,621,088) net

      of 11,292,934 (11,323,576) treasury shares, as of

      September 30, 2016 (March 31, 2016), respectively              

199               199

                                          Share premium              

574               570

                                      Retained earnings           

11,553            11,083

                                         Other reserves                

-                 -

                             Other components of equity          

(2,596)           (2,528)

     Total equity attributable to equity holders of the

                                                company            

9,730             9,324

                              Non-controlling interests                

-                 -

                                           Total equity            

9,730             9,324

                           Total liabilities and equity           

11,875            11,378

<end_table>

Infosys Limited and subsidiaries  

Unaudited Condensed Consolidated Interim Statements of Comprehensive Income

(Dollars in millions except share and per equity share data)

<start_table>

    

                                       Three months Three months   Six months   

Six months

                                              ended        ended        

ended        ended

                                          September    September    

September    September

                                           30, 2016     30, 2015     30,

2016     30, 2015

                              Revenues        2,587        2,392        

5,088        4,647

                         Cost of sales        1,638        1,488        

3,231        2,922

                          Gross profit          949          904        

1,857        1,725

                   Operating expenses:

        Selling and marketing expenses          134          129          

271          258

               Administrative expenses          171          165          

340          316

              Total operating expenses          305          294          

611          574

                      Operating profit          644          610        

1,246        1,151

                     Other income, net          114          121          

226          240

         Share in associate's profit /

                                (loss)          (1)            -          

(1)            -

            Profit before income taxes          757          731        

1,471        1,391

                    Income tax expense          218          212          

421          396

                            Net profit          539          519        

1,050          995

            Other comprehensive income

                Items that will not be

          reclassified subsequently to

                       profit or loss:

     Re-measurement of the net defined

             benefit liability/(asset)          (6)          (1)          

(9)          (2)

      Cumulative impact on reversal of

        unrealized gain on quoted debt

      securities on adoption of IFRS 9            -            -          

(5)            -

      Equity instruments through other

                  comprehensive income            -            -            

-            -

       Items that will be reclassified

       subsequently to profit or loss:

         Fair valuation of investments            -            5            

-            3

               Exchange differences on

     translation of foreign operations          119        (242)         

(54)        (379)

     Total other comprehensive income,

                            net of tax          113        (238)         

(68)        (378)

            Total comprehensive income          652          281          

982          617

               Profit attributable to:

                 Owners of the company          539          519        

1,050          995

             Non-controlling interests            -            -            

-            -

                                                539          519         

1050          995

            Total comprehensive income

                      attributable to:

                 Owners of the company          652          281          

982          617

             Non-controlling interests            -            -            

0            -

                                                652          281          

982          617

             Earnings per equity share

                             Basic ($)         0.24         0.23         

0.46         0.44

                           Diluted ($)         0.24         0.23         

0.46         0.44

        Weighted average equity shares

        used in computing earnings per

                          equity share

                                       2,285,641,71 2,285,614,02 2,285,632,08

2,285,612,15

                                 Basic            0            9            

1            7

                                       2,285,949,30 2,285,713,04 2,285,875,98

2,285,696,67

                               Diluted            3            2            

8            8

<end_table>

NOTE:  

1. The unaudited Condensed Consolidated Interim Balance sheet and Condensed

Consolidated Interim Statement of Comprehensive Income for the three months and

six months ended September 30, 2016 have been taken on record at the Board

meeting held on October 14, 2016  

2. A Fact Sheet providing the operating metrics of the company can be

downloaded from www.infosys.com

IFRS-INR Press Release:

https://www.infosys.com/investors/reports-filings/quarterly-results/2016-2017/q2/Documents/IFRS-INR-press-release.pdf

Fact Sheet:

https://www.infosys.com/investors/reports-filings/quarterly-results/2016-2017/q2/Documents/fact-sheet.pdf

Source: Infosys

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