By PR Newswire/Les Echos/
Fact Sheet
Consolidated Financial Data - Third Quarter, Fiscal 2014
Statement of Comprehensive Income for three months ended,
(As per IFRS) In INR crore, except share data
Particulars Dec 31, Growth (%) Sep 30, 2013 Growth %
2013 2012 Q3 14 over
Q2 14
Revenues 13,026 10,424 25.0 12,965 0.5
Cost of sales 8,321 6,566 26.7 8,384 (0.8)
Gross Profit 4,705 3,858 22.0 4,581 2.7
Operating Expenses:
Selling and marketing
expenses 644 541 19.0 757 (14.9)
Administrative expenses* 802 640 25.3 987 (18.7)
Total Operating Expenses 1,446 1,181 22.4 1,744 (17.1)
Operating Profit 3,259 2,677 21.7 2,837 14.9
Other Income, net 731 503 45.3 510 43.3
Profit before income
taxes 3,990 3,180 25.5 3,347 19.2
Income tax expense 1,115 811 37.5 940 18.6
Net Profit 2,875 2,369 21.4 2,407 19.4
Earnings per equity
share #
Basic (INR) 50.32 41.47 21.3 42.12 19.5
Diluted (INR) 50.32 41.47 21.3 42.12 19.5
*Administrative expenses for the three months ended September 30, 2013 include
a provision of INR 219 crore towards visa related matters.
# EPS for the three months ended September 30, 2013 is INR 45.96 per share,
excluding the provision of INR 219 crore for visa related matters. EPS for the
three months ended September 30, 2013 is INR 42.12 per share, including the
provision of INR 219 crore for visa related matters. The difference is INR 3.84
per share.
Statement of Comprehensive Income for nine months ended,
(As per IFRS) In INR crore, except share data
Particulars Dec 31, Growth (%)
2013 2012
Revenues 37,258 29,898 24.6
Cost of sales 24,024 18,478 30.0
Gross Profit 13,234 11,420 15.9
Operating Expenses:
Selling and marketing expenses 1,985 1,516 30.9
Administrative expenses* 2,489 1,937 28.5
Total Operating Expenses 4,474 3,453 29.6
Operating Profit 8,760 7,967 10.0
Other Income, net 1,818 1,685 7.9
Profit before income taxes 10,578 9,652 9.6
Income tax expense 2,922 2,625 11.3
Net Profit 7,656 7,027 9.0
Earnings per equity share #
Basic (INR) 133.99 122.99 8.9
Diluted (INR) 133.99 122.99 8.9
*Administrative expenses for the nine months ended December 31, 2013 include a
charge of INR 219 crore towards visa related matters.
# EPS for the nine months ended December 31, 2013 is INR 137.83 per share,
excluding the charge of INR 219 crore for visa related matters. EPS for the
nine months ended December 31, 2013 is INR 133.99 per share, including the
charge of INR 219 crore for visa related matters. The difference is INR 3.84
per share.
Statement of Comprehensive Income for three months ended,
(As per IFRS) in US $ million, except share data
Particulars Dec 31, Growth (%) Sep 30, 2013 Growth %
2013 2012 Q3 14 over
Q2 14
Revenues 2,100 1,911 9.9 2,066 1.7
Cost of sales 1,341 1,203 11.5 1,337 0.3
Gross Profit 759 708 7.2 729 4.1
Operating Expenses:
Selling and marketing
expenses 104 99 5.1 120 (13.3)
Administrative expenses* 129 118 9.3 158 (18.4)
Total Operating Expenses 233 217 7.4 278 (16.2)
Operating Profit 526 491 7.1 451 16.7
Other Income, net 117 92 27.2 81 44.4
Profit before income taxes 643 583 10.3 532 20.9
Income tax expense 180 149 20.8 149 20.8
Net Profit 463 434 6.7 383 20.9
Earnings per equity share #
Basic ($) 0.81 0.76 6.6 0.67 20.9
Diluted ($) 0.81 0.76 6.6 0.67 20.9
*Administrative expenses for the three months ended September 30, 2013 include
a provision of $ 35 million towards visa related matters.
# EPS for the three months ended September 30, 2013 is $ 0.73 per share,
excluding the provision of $ 35 Million for visa related matters. EPS for the
three months ended September 30, 2013 is $ 0.67 per share, including the
provision of $ 35 million for visa related matters. The difference is $ 0.06
per share.
Statement of Comprehensive Income for nine months ended,
(As per IFRS) in US $ million, except share data
Particulars Dec 31, Growth (%)
2013 2012
Revenues 6,157 5,460 12.8
Cost of sales 3,974 3,376 17.7
Gross Profit 2,183 2,084 4.8
Operating Expenses:
Selling and marketing expenses 327 277 18.1
Administrative expenses* 411 355 15.8
Total Operating Expenses 738 632 16.8
Operating Profit 1,445 1,452 (0.5)
Other Income, net 301 308 (2.3)
Profit before income taxes 1,746 1,760 (0.8)
Income tax expense 482 479 0.6
Net Profit 1,264 1,281 (1.3)
Earnings per equity share #
Basic ($) 2.21 2.24 (1.3)
Diluted ($) 2.21 2.24 (1.3)
*Administrative expenses for the nine months ended December 31, 2013 include a
charge of $ 35 million towards visa related matters.
# EPS for the nine months ended December 31, 2013 is $ 2.27 per share,
excluding the charge of $ 35 million for visa related matters. EPS for the
nine months ended December 31, 2013 is $ 2.21 per share, including the charge
of $ 35 million for visa related matters. The difference is $ 0.06 per share.
Revenues by Geographical Segment
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
North America 60.0 61.5 61.0 60.8 62.8
Europe 24.9 24.0 24.0 24.4 22.6
India 2.6 2.4 2.2 2.5 2.0
Rest of the world 12.5 12.1 12.8 12.3 12.6
Total 100.0 100.0 100.0 100.0 100.0
Revenues by Service Offering
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
Business IT
Services 61.3 61.4 61.9 61.3 63.3
Application
Development 15.9 16.0 15.8 15.7 16.7
Application
Maintenance 19.2 19.1 20.0 19.4 20.8
Infrastructure
Management Services 6.9 7.2 6.9 7.1 6.6
Testing Services 8.7 8.4 8.4 8.5 8.3
Product Engineering
Services 3.2 3.3 3.2 3.2 3.4
Business Process
Management 5.3 5.1 5.2 5.2 4.9
Others 2.1 2.3 2.4 2.2 2.6
Consulting, Package
Implementation &
Others 33.4 33.3 32.6 33.3 30.9
Products, Platforms
and Solutions 5.3 5.3 5.5 5.4 5.8
Products 3.8 3.7 3.9 3.8 4.1
BPM Platform 1.1 1.2 1.3 1.2 1.3
Others 0.4 0.4 0.3 0.4 0.4
Total 100.0 100.0 100.0 100.0 100.0
Revenues by Project Type *
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
Fixed Price 41.0 40.2 41.3 40.4 39.8
Time & Materials 59.0 59.8 58.7 59.6 60.2
Total 100.0 100.0 100.0 100.0 100.0
Revenues by Industry
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
Banking &
Financial
Services,
Insurance 33.5 33.4 33.7 33.7 34.0
Banking &
financial
services 27.2 27.1 26.8 27.2 27.2
Insurance 6.3 6.3 6.9 6.5 6.8
Manufacturing 22.8 23.2 21.7 22.7 21.8
Retail & Life
Sciences 24.6 24.2 24.1 24.3 23.7
Retail & CPG 16.0 15.7 16.0 15.7 16.4
Transport &
Logistics 1.6 1.8 1.8 1.7 1.7
Life Sciences 5.0 4.6 4.8 4.8 4.1
Healthcare 2.0 2.1 1.5 2.1 1.5
Energy, Utilities,
Communications &
Services 19.1 19.2 20.5 19.3 20.5
Energy & Utilities 5.2 5.1 5.4 5.1 5.4
Telecom 7.9 8.3 9.6 8.5 9.9
Others 6.0 5.8 5.5 5.7 5.2
Total 100.0 100.0 100.0 100.0 100.0
Client Data
Quarter ended Year ended
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Mar 31, 2013 Mar 31, 2012
Number of Clients
Active 888 873 776 798 694
Added during the
period (gross) 54 68 89 235 172
Number of million
dollar clients*
1 Million dollar + 495 469 419 448 399
5 Million dollar + 226 221 209 213 190
10 Million dollar + 148 146 136 137 132
20 Million dollar + 88 86 81 80 79
30 Million dollar + 69 66 62 62 64
40 Million dollar + 55 51 50 49 50
50 Million dollar + 41 40 40 40 40
60 Million dollar + 36 34 34 33 28
70 Million dollar + 30 30 25 28 23
80 Million dollar + 21 22 20 19 17
90 Million dollar + 17 17 15 17 16
100 Million dollar + 15 15 12 12 13
200 Million dollar + 4 3 3 3 2
300 Million dollar + 1 - - - 1
Client contribution
to revenues
Top client 3.7% 3.9% 3.6% 3.8% 4.3%
Top 5 clients 14.1% 15.0% 14.6% 15.2% 15.5%
Top 10 clients 23.5% 24.5% 23.9% 24.6% 24.6%
Repeat business 97.3% 98.3% 97.5% 97.8% 97.8%
Account receivables
-LTM(in days)# 65 62 62 64 60
*LTM (Last twelve months) Revenues
# excluding Lodestone
Effort and Utilization
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
Effort
Onsite 24.6 25.6 24.6 25.4 24.6
Offshore 75.4 74.4 75.4 74.6 75.4
Revenues
Onsite 51.1 52.5 51.4 52.2 50.4
Offshore 48.9 47.5 48.6 47.8 49.6
Utilization
Including
trainees 74.1 73.7 70.1 72.8 68.5
Excluding
trainees 78.0 77.8 73.2 76.4 72.8
Person Months Data
(in %)
Quarter ended LTM
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Dec 31, 2013 Dec 31, 2012
Billed - Onsite 85,356 87,383 77,970 341,084 294,093
- Offshore 261,516 253,828 238,595 1,000,957 903,739
TOTAL 346,872 341,211 316,565 1,342,041 1,197,832
Non Billable 97,789 97,310 115,826 414,365 447,837
Trainee 23,429 24,670 19,229 87,516 101,791
Sales & Support 26,716 27,108 26,643 107,826 100,092
TOTAL 494,806 490,299 478,263 1,951,748 1,847,552
Consolidated IT Services
Quarter ended
Dec 31, Sequential Sep 30, Sequential Dec 31, Sequential
2013 growth % 2013 growth % 2012 growth %
Effort - (Person months)
Onsite 79,375 (3.4) 82,156 0.7 73,603 3.7
Offshore 185,744 2.6 181,107 4.3 167,320 1.3
Total 265,119 0.7 263,263 3.1 240,923 2.0
LTM
Dec 31, Year on Dec 31, Year on
2013 Year 2012 Year
growth growth
% %
320,249 14.8 279,072 7.8
708,759 9.5 647,035 9.0
1,029,009 11.1 926,107 8.6
Revenues - ($ million)
Onsite 1,039.88 (1.3) 1,053.10 2.1 952.71 7.5
Offshore 846.15 4.8 807.42 6.1 761.56 3.6
Total 1,886.03 1.4 1,860.52 3.8 1,714.27 5.7
4,104.25 15.9 3,540.63 6.5
3,169.30 7.7 2,942.39 4.9
7,273.56 12.2 6,483.02 5.8
Employee Metrics
(Nos.)
Quarter ended Year ended
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Mar 31, 2013 Mar 31, 2012
Total employees 1,58,404 1,60,227 1,55,629 1,56,688 1,49,994
S/W professionals 1,48,740 1,50,489 1,46,250 1,47,008 1,41,788
Billable 1,35,869 1,36,426 134,660 1,35,392 1,24,953
Banking product
group 6,977 6,580 7,460 7,249 8,139
Trainees 5,894 7,483 4,130 4,367 8,696
Sales & Support 9,664 9,738 9,379 9,680 8,206
Gross addition 6,682 12,168 8,390 37,036 45,605
Of which lateral
addition 3,333 3,806 4,351 16,781 14,966
Attrition 8,505 9,204 6,522 30,342 26,431
Net addition (1,823) 2,964 1,868 6,694 19,174
Attrition % (LTM)* 18.1% 17.3% 15.1% 16.3% 14.7%
* Excluding subsidiaries
Employee Metrics - Subsidiaries
(Nos.)
Quarter ended Year ended
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Mar 31, 2013 Mar 31, 2012
Infosys BPO
Limited -
consolidated 26,475 26,834 23,714 24,634 20,523
Infosys
Technologies
(Australia)
Pty. Ltd.* - - - - 674
Infosys
Technologies
(China) Company
Ltd. 2,921 3,067 3,066 3,073 3,092
Infosys
Technologies
S.De R.L.
De C. V.,
Mexico 795 835 753 797 631
Infosys Technologies
(Sweden) AB 2 2 6 4 11
Infosys Tecnologia
DO Brasil LTDA 601 547 371 393 210
Infosys Public
Services Inc. 178 182 179 182 33
Infosys Technologies
(Shanghai)
Company Ltd. - 4 55 17 31
Lodestone Holding
AG - consolidated 1,511 1,450 891 1,191 -
* Employees of Infosys Australia were transferred to Infosys Limited consequent
to merger of its operations with the parent company
Infrastructure (as on Dec 31, 2013)
Completed Work in progress Land acquired
Built-up area No. of seats Built-up area No. of seats during the
(Sq. Ft.) (Sq. Ft.) Quarter
(acres)
Bangalore 47,88,391 33,931 2,66,587 2,020 14.89
Bhubaneswar 8,79,721 3,974 5,34,767 4,320 -
Chandigarh 12,26,033 6,769 - - -
Chennai 42,60,674 25,240 - - -
Gurgaon 1,01,183 988 1,35,209 1,250 -
Hyderabad 39,05,350 21,840 10,48,204 4,148 -
Jaipur 4,52,139 4,367 4,04,106 4,000 -
Mangalore 14,33,469 6,712 10,25,967 4,800
Mysore
(including
ILI)* 95,29,485 11,759 19,84,011 3,864 -
Pune 54,82,482 32,470 13,12,473 4,304 -
Thiruvananthapuram 6,18,201 4,643 21,39,267 8,479 -
Global Centers 16,88,535 15,960 - - -
Total 3,43,65,663 1,68,653 88,50,591 37,185 14.89
*Infosys Leadership Institute
Subsidiaries Performance
(US $ Mn)
Quarter ended Year ended
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Mar 31, 2013
Revenues Net Revenues Net Revenues Net Revenues Net
Income Income Income Income
Infosys BPO
Limited -
consolidated 136.52 24.72 132.13 18.87 125.16 19.32 471.22 79.04
Infosys
Technologies
(Australia)
Pty.
Ltd.* - (0.06) - 0.10 - 0.19 0.42 0.31
Infosys
Technologies
(China)
Company
Limited 29.25 0.55 31.68 0.10 26.56 0.69 104.37 (1.88)
Infosys
Technologies
S.de R.L. de C
V., Mexico 9.52 (0.38) 10.51 0.87 7.99 (0.06) 30.12 (0.37)
Infosys
Technologies
(Sweden) AB 0.11 (0.05) 0.11 0.00 0.22 (0.01) 1.11 (0.01)
Infosys
Tecnologia DO
Brasil LTDA 7.92 (0.33) 8.66 (2.27) 4.80 (2.20) 23.59 (3.11)
Infosys
Public
Services
Inc. 42.89 (2.01) 43.32 (2.18) 26.80 (1.11) 110.40 (1.90)
Infosys
Technologies
(Shanghai)
Co Ltd - (0.32) - (0.36) 0.02 (1.65) 0.14 (2.85)
Lodestone
Holding AG -
consolidated 119.30 3.32 98.13 1.21 39.35 2.53 109.64 (0.90)
* Employees of Infosys Australia were transferred to Infosys Limited consequent
to merger of its operations with the parent company
Rupee Dollar Rate (INR)
Quarter ended Year ended
Dec 31, 2013 Sep 30, 2013 Dec 31, 2012 Mar 31, 2013 Mar 31, 2012
Period closing
rate 61.81 62.61 55.00 54.29 50.88
Period average
rate 62.03 62.77 54.55 54.54 48.10
Constant Currency Reporting
Reported revenues Q3 14 Q2 14 Q1 14 Q4 13 Q3 13
Revenues ($ mn) 2,100 2,066 1,991 1,938 1,911
Sequential growth % 1.7 3.8 2.7 1.4 6.3
YoY growth % 9.9 15.0 13.6 9.4 5.8
Constant currency - Q o Q Q3 14 Q2 14 Q1 14 Q4 13 Q3 13
Revenues ($ mn) 2,091 2,074 2,005 1,944 1,902
Sequential growth % 1.2 4.2 3.4 1.7 5.8
Constant currency - Y o Y Q3 14 Q2 14 Q1 14 Q4 13 Q3 13
Revenues ($ mn) 2,122 2,086 1,999 1,946 1,910
YoY growth % 11.0 16.1 14.1 9.9 5.8
Notes:
Basis of computation
1. Foreign exchange rates are as per FEDAI.
2. Average rates for major global currencies:
Average rate of USD Q3 14 Q2 14 Q1 14 FY 13 Q4 13 Q3 13
AUD 0.92 0.92 0.98 1.03 1.03 1.04
EURO 1.37 1.34 1.31 1.29 1.32 1.30
GBP 1.62 1.56 1.54 1.58 1.54 1.61
3. Proportion of revenues from major global currencies:
Revenues by currency (%) Q3 14 Q2 14 Q1 14 FY 13 Q4 13 Q3 13
AUD 7.9 7.6 7.9 8.3 8.1 8.3
EURO 10.4 10.1 9.8 8.8 10.4 9.6
GBP 6.0 5.9 5.6 6.4 6.1 6.2
Q3 2014
Geographical segment - growth
North America declined by 0.8% sequentially and in constant currency.
Europe grew by 5.5% sequentially; and 3.5% in constant currency.
India grew by 9.2% sequentially; and 8.1% in constant currency.
Rest of the world grew by 4.9% sequentially; and 5.2% in constant currency.
Industry segment - growth
FSI grew by 2.0% sequentially; and 1.5% in constant currency.
MFG grew by 0.1% sequentially; and declined by 0.3% in constant currency.
RCL grew by 3.4% sequentially; and 2.9% in constant currency.
ECS grew by 0.8% sequentially; and 0.3% in constant currency.
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information. All information should be checked prior to publication.Infosys Limited: Fact Sheet Consolidated Financial Data - Third Quarter, Fiscal 2014
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