Infosys Limited and subsidiaries --- Consolidated Statement of Comprehensive Income for the: --- (Dollars in millions except equity share and per equity share data) --- Unaudited Audited 3 months ended March 31, 2020 3 months ended March 31, 2019 Year ended March 31, 2020 Year ended March 31, 2019 --- Revenues 3,197 3,060 12,780 11,799 --- Cost of sales 2,133 2,028 8,552 7,687 --- Gross profit 1,064 1,032 4,228 4,112 --- Operating expenses --- Selling and marketing expenses 161 174 664 638 --- Administrative expenses 229 200 840 778 --- Total operating expenses 390 374 1,504 1,416 --- Operating profit 674 658 2,724 2,696 --- Other income, net (A3) (B2) 84 94 395 411 --- Finance cost(B3) (6) (24) - --- Reduction in the fair value of Disposal Group held for sale(A1) - (39) --- --- Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" (A2) - (65) --- --- Profit before income taxes 752 752 3,095 3,003 --- Income tax expense (A4) 160 171 757 803 --- Net profit 592 581 2,338 2,200 --- Other comprehensive income --- Items that will not be reclassified subsequently to profit or loss: --- Re-measurements of the net defined benefit liability/ asset, net (B4) (2) (24) (3) --- Equity instrument through other comprehensive income, net - (5) 10 --- --- (2) (29) 7 Items that will be reclassified subsequently to profit or loss: --- Fair valuation of investments, net 2 3 3 - --- Fair value changes on derivatives designated as cash flow hedge, net - (2) (5) 3 --- --- Foreign currency translation (473) 74 (720) (560) --- (471) 75 (722) (557) Total other comprehensive income/(loss), net of tax (473) 75 (751) (550) --- Total comprehensive income 119 656 1,587 1,650 --- Profit attributable to: --- Owners of the Company 590 580 2,331 2,199 --- Non-controlling interests 2 1 7 1 --- 592 581 2,338 2,200 Total comprehensive income attributable to: --- Owners of the Company 117 655 1,582 1,649 --- Non-controlling interests 2 1 5 1 --- 119 656 1,587 1,650 Earnings per equity share --- Basic ($) 0.14 0.13 0.55 0.51 --- Diluted ($) 0.14 0.13 0.55 0.51 --- Weighted average equity shares used in computing earnings per equity share Basic 4,240,181,854 4,347,129,592 4,257,754,522 4,347,130,157 --- Diluted 4,245,981,386 4,353,023,863 4,265,144,228 4,353,420,772 ---
NOTES:
A. Notes pertaining to previous year
1. During the year ended March 31, 2019, the Company had recorded a reduction in the fair value amounting to $39 million in respect of its subsidiary Panaya. 2. The Company had recorded an adjustment in respect of excess of carrying amount over recoverable amount of $65 million in respect of its subsidiary Skava during the year ended March 31, 2019. 3. Other income includes interest on income tax refunds amounting to $7 million for the year ended March 31, 2019. 4. During the year ended March 31, 2019, on account of conclusion of an Advanced Pricing Agreement (APA) in an overseas jurisdiction, the Company had reversed income tax expense provision of $14 million, which pertains to previous periods.
B. Notes pertaining to the current quarter / year
1. The audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the year ended March 31, 2020 have been taken on record at the Board meeting held on April 20, 2020. 2. Other income includes interest on income tax refunds amounting to $2 million for the three months ended March 31, 2020 and $37 million for the year ended March 31, 2020. 3. On account of adoption of IFRS 16- Leases effective April 1, 2019. 4. Includes unrealized losses on certain investments carried in the PF trust for the quarter and year ended March 31, 2020.
C. A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com [http://www.infosys.com/]
INR-- https://www.infosys.com/investors/reports-filings/quarterly-... [https://www.infosys.com/investors/reports-filings/quarterly-...]
Factsheet- https://www.infosys.com/investors/reports-filings/quarterly-... [https://www.infosys.com/investors/reports-filings/quarterly-...]
Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg [https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg]
CONTACT: Investor Relations, Sandeep Mahindroo, +91-80-3980-1018,Sandeep_Mahindroo@infosys.com, Media Relations, Mehak Chawla,+91-80-4156-3998, Mehak.Chawla@infosys.com, Chiku Somaiya, +1-71367-06752,Chiku.Somaiya@infosys.com