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Infosys (NYSE: INFY) Announces Results for the Quarter and Year ended March 31, 2013.

BANGALORE, India, April 12, 2013 /PRNewswire/ —

Q4 revenues grew by 1.4% sequentially; FY13 revenues grew by
5.8%

Financial Highlights

Consolidated results under
International Financial Reporting
Standards

 (
IFRS

IFRS Inter Frame Relay Service
IFRS Indiana Facilities Registry System
) for the quarter ended March 31, 2013

* Revenues were $1,938 million for the quarter ended March 31, 2013;
QoQ growth was 1.4% YoY growth was 9.4%

* Net profit was $444 million for the quarter ended March 31, 2013;
QoQ growth was 2.3% YoY decline was 4.1%

* Earnings per American Depositary Share (
EPADS

) was $0.78 for the
quarter ended March 31, 2013; QoQ growth was 2.6% YoY decline was
3.7%

* The Board of Directors recommended a final dividend of ’27
per ADS for fiscal 2013 (equivalent to final dividend of approximately
$0.50 per ADS at the prevailing exchange of ‘54.29 per US$). The
Register and Share Transfer Books of the Company will be closed from
June 1, 2013 to June 15 2013 (both days inclusive)

*
Liquid assets

 including cash and cash equivalents, current
available-for-sale
financial assets

, investment in certificates of
deposits and government bonds were $4.4 billion versus $4.1 billion as
on December 31, 2012

Other highlights:

* Infosys and its subsidiaries added 56 clients during the
quarter

* Gross addition of 8,990 employees (net addition of 1,059) for the
quarter by Infosys and its subsidiaries

* 156,688 employees as on March 31, 2013 for Infosys and its
subsidiaries

* The company listed its American Depository Shares (ADS) on
NYSE

 Euronext’s (
NYX

) London and Paris markets

* The company has decided to set aside up to US$100 million to
invest in products, platforms and solutions ideas in line with Infosys
3.0 strategy

“G lobal economic uncertainties remain challenging for the IT
industry ,” said S. D. Shibulal,
CEO

 and Managing Director. ”
We are progressing well on our strategic direction of building a
high-quality company which is relevant to our clients. We are making all
the investments necessary to differentiate ourselves in the market place
while positioning ourselves as a partner of choice for our clients.

” The global currency market continues to be volatile
reflecting the uncertain economic environment. Our hedging strategy
helps us to minimize the volatility impact, ” said Rajiv Bansal,
Chief Financial Officer. ” We have a healthy balance sheet with our
cash and cash equivalents at US$ 4.4 billion.”

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

Outlook*

The company’s outlook (consolidated) for the fiscal year ending
March 31, 2014, under IFRS is as follows:

Revenues are expected to grow 6% to 10.0%;

* Exchange rates considered for major global currencies:
AUD

 /
USD

 –
1.04;
GBP

 / USD – 1.51; Euro / USD – 1.28

Business Highlights

* We continue to see good adoption our products and platforms from
our clients. This quarter we had 12 wins (excluding Finacle[TM]) across
industries and geographies, taking our total number of clients for
products and platforms to over 75.

* In the last quarter we expanded our global footprint with a new
delivery center in Munich, Germany, an onshore operations center in the
Metro Atlanta Area, U.S. and a new delivery center for our
BPO

BPO Benzoyl Peroxide
BPO Business Process Optimization
BPO Broker Price Opinions
BPO Buffalo Philharmonic Orchestra
 subsidiary in San Jose, Costa Rica.

* The
District of Columbia
 federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States).
 awarded us to implement the District of
Columbia Access System (
DCAS

DCAS Downloadable Conditional Access System
DCAS Defense Contract Administration Services  
). DCAS will be a state-of-the-art
health
and human services

 solution that provides the District’s Health
Benefit Exchange, a new integrated eligibility system for Medicaid,
private health insurance and other programs with new case management
capabilities that span programs and agencies. This system will be used
to determine eligibility and to enroll individuals, families, and small
businesses that purchase health care coverage through the
Exchange’s online marketplace.

* Our focus on Cloud and Big Data as new growth areas continues to
yield results; we currently have more than 200 engagements and 3,500
experts in our Cloud practice. Over the last quarter, we won over 10
engagements across Cloud services, Big Data and security. Our vision of
investing in new growth areas with differentiated solutions was
strengthened by the launch of Infosys BigDataEdge that radically
simplifies the complex task of analyzing Big Data to discover relevant
information.

* Mobility is an important focus for enterprises to make their
organizations more efficient and customer centric and we are helping our
clients realize the full business potential of mobility. In the last
quarter we started 18 new engagements across various areas like business
and technology consulting, customer outreach, mobile marketing, field
services, enterprise efficiency.

* During the fourth quarter, we applied for 21 unique patent
applications in India and the U.S. With this, we have 532 patent
applications undergoing various stages of patent prosecution in India,
the U.S. and other jurisdictions, and have been granted 84 patents by
the
United States Patent and Trademark Office

 and three patents by the
Luxembourg patent office.

Awards and Recognition

* Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock Award for
the most innovative product/service.

* The National Association of Software and Services Companies
(
NASSCOM
 
) presented its prestigious Business Innovation Award to Infosys
Edge[TM].

* We have been named a 2013 Computerworld Honors Laureate in
recognition of our use of information technology to promote and advance
public welfare, benefit society and business and change the world for
the better.

* Our enterprise mobility services were rated highly by various
analysts, including a leader rating in The Forrester Wave[TM]:
Enterprise Mobility Services, Q1 2013 report.

* Ovum, the global analyst firm, recognized Flypp[TM] Digital
Experience Platform as a well-developed ecosystem of services, large
repository of apps (comparable to Google Play and the App Store) and
monetization processes.

* We won top accolades at the National Council for Work Experience
(
NCWE

) Awards 2013, marking us as one of UK’s best internship
providers.

Board of Directors

Mr.
Leo
 [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac.
 Purihas been appointed Additional Director of the Company
with effect from April 11, 2013. He will hold office up to the date of
the Annual General Meeting, when his appointment as a director will be
placed for the approval of the shareholders.

Mr. Puri is a Senior Advisor to McKinsey & Company’s
Asia-Pacific Financial Institution Practice. He has served as a Senior
Partner of the firm, and has 25 years of experience of working in
consulting to financial institutions. Between 2007 and 2011, he was a
Managing Director with Warburg Pincus & Company, a leading Private
Equity Firm, responsible for investments in India and financial
institutions in relevant Asian markets.

Welcoming Leo Puri to the Board,
K. V. Kamath

, Chairman said,
“Leo Puri is one of the best known leaders of corporate India. He
brings enormous value with his vast experience in the consulting
field.”

About Infosys Ltd

Infosys partners with global enterprises to drive their
innovation-led growth. That’s why Forbes ranked Infosys #19 among
the top 100 most innovative companies. As a leading provider of
next-generation consulting, technology and outsourcing solutions,
Infosys helps clients in more than 30 countries realize their goals.

Visit http://www.infosys.com and see how Infosys (NYSE:
INFY
 
), with
its 156,000+ people, is Building Tomorrow’s Enterprise[sup.] today.

Safe Harbor

 

Certain statements in this release concerning our future growth
prospects are forward-looking statements, 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
 entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important.
, 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, 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, 2012 and on Form 6-K
for the quarter ended June 30, 2012, September 30, 2012 and December 31,
2012. These filings are available at http://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. 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.

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Balance Sheets as of

(Dollars in millions except share data)

                                                  March 31, 2013 March
31, 2012
    ASSETS
    Current assets
    Cash and cash equivalents                            $4,021
$4,047
    Available-for-sale financial assets                     320
6
    Investment in certificates of deposit                     -
68
    Trade receivables                                     1,305
1,156
    Unbilled revenue                                        449
368
    Prepayments and other current assets                    391
300
    Derivative financial instruments                         19
-
    Total current assets                                  6,505
5,945
    Non-current assets
    Property, plant and equipment                         1,191
1,063
    Goodwill                                                364
195
    Intangible assets                                        68
34
    Available-for-sale financial assets                      72
2
    Deferred income tax assets                               94
62
    Income tax assets                                       201
204
    Other non-current assets                                 44
32
    Total non-current assets                              2,034
1,592
    Total assets                                         $8,539
$7,537
    LIABILITIES AND EQUITY
    Current liabilities
    Derivative financial instruments                          -
$9
    Trade payables                                           35
5
    Current income tax liabilities                          245
207
    Client deposits                                           6
3
    Unearned revenue                                        152
107
    Employee benefit obligations                            113
98
    Provisions                                               39
26
    Other current liabilities                               568
482
    Total current liabilities                             1,158
937
    Non-current liabilities
    Deferred income tax liabilities                          23
2
    Other non-current liabilities                            27
22
    Total liabilities                                     1,208
961
    Equity
    Share capital-5 ($0.16) par value
    600,000,000 equity shares authorized, issued
    and outstanding 571,402,566 and 571,396,401,
    net of 2,833,600 treasury shares each as of
    March 31, 2013 and March 31, 2012,
    respectively                                             64
64
    Share premium                                           704
703
    Retained earnings                                     7,666
6,509
    Other components of equity                          (1,103)
(700)
    Total equity attributable to equity holders
    of the company                                        7,331
6,576
    Non-controlling interests                                 -
-
    Total equity                                          7,331
6,576
    Total liabilities and equity                         $8,539
$7,537 

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Statements of Comprehensive
Income

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

                                      Three       Three
                                    months      months  Year ended  Year
ended
                               ended March ended March    March 31,
March 31,
                                  31, 2013    31, 2012        2013
2012
    Revenues                        $1,938      $1,771      $7,398
$6,994
    Cost of sales                    1,261       1,041       4,637
4,118
    Gross profit                       677         730       2,761
2,876
    Operating expenses:
    Selling and marketing
    expenses                            96          91         373
366
    Administrative expenses            124         111         479
497
    Total operating expenses           220         202         852
863
    Operating profit                   457         528       1,909
2,013
    Other income                       125         131         433
397
    Profit before income taxes         582         659       2,342
2,410
    Income tax expense                 138         196         617
694
    Net profit                        $444        $463      $1,725
$1,716
    Other comprehensive income
    Fair value changes on
    available-for-sale
    financial asset, net of
    tax effect                           1           -           1
(2)
    Exchange differences on
    translating foreign
    operations                          74         244       (404)
(760)
    Total other comprehensive
    income                             $75        $244      $(403)
$(762)
    Total comprehensive income        $519        $707      $1,322
$954
    Profit attributable to:
    Owners of the company             $444        $463      $1,725
$1,716
    Non-controlling interests            -           -           -
-
                                      $444        $463      $1,725
$1,716
    Total comprehensive income
    attributable to:
    Owners of the company             $519        $707      $1,322
$954
    Non-controlling interests            -           -           -
-
                                      $519        $707      $1,322
$954
    Earnings per equity share
    Basic ($)                         0.78        0.81        3.02
3.00
    Diluted ($)                       0.78        0.81        3.02
3.00
    Weighted average equity
    shares used in computing
    earnings per equity share
    Basic                      571,402,566 571,392,171 571,399,238
571,365,494
    Diluted                    571,402,566 571,399,573 571,400,091
571,396,142 

NOTE:

1. The unaudited Condensed Consolidated Balance sheets and Condensed
Consolidated Statements of Comprehensive Income for the three months
and year ended March 31, 2013 has been taken on record at the Board
meeting held on April 12, 2013

2. A Fact Sheet providing the operating metrics of the company can
be downloaded from http://www.infosys.com

Fact Sheet: http://multivu.prnewswire.com/mnr/prne/operations/Fact-sheet-Q4-2013.pdf

INR

 Press Release:
http://multivu.prnewswire.com/mnr/prne/operations/INR-press-release-Q4.pdf