EX-99.8 9 exv99w08.htm FORM OF RELEASES TO STOCK EXCHANGES AND ADVERTISEMENT

Exhibit 99.8

Form of Releases to Stock Exchanges and Advertisement

 

 

  Infosys Limited

Regd. office: Electronics City, Hosur Road, Bengaluru – 560 100, India

CIN : L85110KA1981PLC013115

Website: www.infosys.com

Email: investors@infosys.com

T: 91 80 2852 0261, F: 91 80 2852 0362 

  

Audited consolidated financial results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2015 prepared in compliance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

 

(in crore, except equity share and per equity share data)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Revenues  15,902  15,635  13,796  45,891  39,908  53,319
Cost of sales(1)  9,990  9,724  8,462  28,837  24,709  32,883
Gross profit  5,912  5,911  5,334  17,054  15,199  20,436
Selling and marketing expenses  859  843  770  2,522  2,205  2,941
Administrative expenses  1,094  1,075  875  3,132  2,611  3,663
Operating profit  3,959  3,993  3,689  11,400  10,383  13,832
Other income, net  802  793  840  2,353  2,546  3,427
Share in associate's profit /(loss)  –  (1)  –  (2)  –  (1)
Profit before income taxes  4,761  4,785  4,529  13,751  12,929  17,258
Income tax expense  1,296  1,387  1,279  3,857  3,697  4,929
Net profit  3,465  3,398  3,250  9,894  9,232  12,329
Paid-up equity share capital (par value 5/- each, fully paid)  1,144  1,144  572  1,144  572  572
Share premium, retained earnings and other components of equity  54,191  54,191  47,244  54,191  47,244  54,191
Earnings per share (par value 5/- each) (2)            
Basic 15.16 14.87 14.22 43.29  40.39 53.94
Diluted 15.16 14.87 14.22 43.29  40.39 53.94

 

(1)Includes Depreciation and amortization expense of 369 crore and 1,040 crore for the quarter ended and nine months ended December 31, 2015
(2)adjusted for bonus issues wherever applicable

 

1.The audited consolidated financial statements for the quarter and nine months ended December 31, 2015 have been taken on record by the Board of Directors at its meeting held on January 14, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited consolidated financial statements. The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.
  
2. On November 6, 2015, the Securities and Exchange Board of India (SEBI) relaxed the requirements of Regulations 33(1) (c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ending December 31, 2015 and quarter and financial year ending March 31, 2016 for all such listed entities which had exercised the option of preparing consolidated financial statements under IFRS for the earlier quarters of FY 2015-16. The company had earlier availed the option of publishing consolidated financial results under IFRS as per the press release issued by SEBI on November 9, 2009 and continues to do so for the quarter ending December 31, 2015 pursuant to the relaxation provided by the aforesaid November 6, 2015 circular.
  
3.Changes to the Board
  
i. On January 14, 2016, the Board appointed Dr. Punita Kumar Sinha as an independent director with immediate effect.
  
ii. Ms.Carol M. Browner resigned as member of the Board effective November 23, 2015. The Board placed on record its deep sense of appreciation for the services rendered by her during her tenure as a director.
  
iii. The Board recommended the re-appointment of Prof. Jeffrey S. Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016 to hold office up to April 13, 2018, and not be liable to retire by rotation. Prof. Lehman’s current term of office as an Independent Director expires on April 13, 2016. The appointment is subject to the approval of the shareholders.

 

4. Investments

 

On November 16, 2015, Infosys has acquired 100% membership interest in Noah Consulting , LLC (Noah) , a leading provider of advanced information management consulting services for the oil and gas industry. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $33 million (approximately 216 crore), contingent consideration of up to $5 million (approximately 33 crore) and an additional payout of up to $32 million (approximately 212 crore).

 

5. Information on dividends for the quarter and nine months ended December 31, 2015

 

An interim dividend of 10/- ( par value 5/- each) per equity share was declared on October 12, 2015 and paid on October 21, 2015. The interim dividend declared in the previous year was 30/- (not adjusted for bonus issues) per equity share.

 

(in )

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Dividend per share (par value 5/- each)            
Interim dividend  10.00  10.00 30.00(1) 30.00(1)
Final dividend  –  –  – 29.50(2)

 

(1) not adjusted for bonus issues on December 3, 2014 and June 17, 2015

(2) not adjusted for bonus issue on June 17, 2015

 

6. Other information

(in crore)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Staff costs  8,772  8,558  7,546  25,383  22,423  29,742
Items exceeding 10% of aggregate expenditure  –  –  –  –

 

7. Audited financial results of Infosys Limited (Standalone Information)

(in crore)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Revenues  13,562  13,525  12,192  39,825  35,374  47,300
Profit before exceptional item and tax  4,376  4,575  4,252  12,945  12,216  16,386
Profit on transfer of business*  3,036  3,036  412  412
Profit before tax  4,376  7,611  4,252  15,981  12,628  16,798
Profit for the period  3,183  6,306  3,055  12,387  9,140  12,164

 

*Exceptional item pertains to profit on transfer of business to EdgeVerve Systems Limited, a wholly owned subsidiary.

 

Note:The audited results of Infosys Limited for the above mentioned periods are available on our website, www.infosys.com and on the Stock Exchange website www.nseindia.com and www.bseindia.com. The information above has been extracted from the audited financial statements as stated.

 

8. Segment reporting (IFRS Consolidated - Audited)

(in crore)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Revenue by business segment            
Financial Services (FS)  4,377  4,241  3,694  12,500  10,765  14,394
Manufacturing (MFG)  3,506  3,622  3,137  10,460  9,040  12,140
Energy & utilities, Communication and Services (ECS)  2,912  2,814  2,609  8,353  7,618  10,057
Retail, Consumer packaged goods and Logistics (RCL)  2,577  2,582  2,233  7,502  6,649  8,869
Life Sciences, Healthcare and Insurance (HILIFE)  2,156  2,086  1,856  6,186  5,118  6,881
All other segments  374  290  267  890  718  978
Total  15,902  15,635  13,796  45,891  39,908  53,319
Less: Inter-segment revenue  –  –  –  –  –  –
Net revenue from operations  15,902  15,635  13,796  45,891  39,908  53,319
Segment profit before tax, depreciation and non-controlling interests:            
Financial Services (FS)  1,250  1,258  1,114  3,582  3,165  4,262
Manufacturing (MFG)  895  891  781  2,573  2,273  3,025
Energy & utilities, Communication and Services (ECS)  824  834  789  2,441  2,350  3,049
Retail, Consumer packaged goods and Logistics (RCL)  699  726  684  2,069  2,011  2,679
Life Sciences, Healthcare and Insurance (HILIFE)  594  585  540  1,673  1,385  1,865
All other segments  71  60  46  111  (15)  21
Total  4,333  4,354  3,954  12,449  11,169  14,901
Less: Other unallocable expenditure  374  361  265  1,049  786  1,069
Add: Unallocable other income  802  793  840  2,353  2,546  3,427
Add: Share in Associate's profit / (loss)  –  (1)  –  (2)  –  (1)
Profit before tax and non-controlling interests  4,761  4,785  4,529  13,751  12,929  17,258

 

Notes on segment information

 

Business segments

 

Effective April 1, 2015, the Company reorganized its segments to support its objective of delivery innovation. This structure will help deliver services that will reflect the way technology is consumed in layers by the client’s enterprise. Consequent to the internal reorganization, Growth Markets (GMU) comprising enterprises in APAC (Asia Pacific) and Africa have been subsumed across the other verticals, Insurance is part of HILIFE and businesses in India, Japan and China (All other segments) are run as standalone regional business units. The previous period figures, extracted from the audited consolidated financial statements, have been presented after incorporating necessary reclassification adjustments pursuant to changes in the reportable segments.

 

Segmental capital employed

 

Assets and liabilities used in the Company's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

 

By order of the Board

for Infosys Limited

 

Bangalore, India

January 14, 2016

Dr. Vishal Sikka

Chief Executive Officer and Managing Director

 

The Board has also taken on record the unaudited condensed consolidated results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2015, prepared as per International Financial Reporting Standards (IFRS) and reported in US Dollars. A summary of the financial statements is as follows:

 

(in US$ million, except per equity share data)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31,  Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Revenues 2,407 2,392 2,218 7,055 6,552 8,711
Cost of sales  1,512  1,488  1,360  4,435  4,057  5,374
Gross profit  895  904  858  2,620  2,495  3,337
Net profit  524  519  522  1,519  1,515  2,013
Earnings per Equity Share (1)            
 Basic  0.23  0.23  0.23  0.66  0.66  0.88
 Diluted  0.23  0.23  0.23  0.66  0.66  0.88
Total assets 10,771 10,810 10,028 10,771 10,028 10,615
Cash and cash equivalents including available-for-sale financial assets (current) and certificates of deposit 4,523 4,655 5,319 4,523 5,319 4,999

 

(1) adjusted for bonus issues wherever applicable

 

Certain statements in this release 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, 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, 2015. 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 January 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.

 

 

 

  Infosys Limited

Regd. office: Electronics City, Hosur Road, Bengaluru – 560 100, India

CIN : L85110KA1981PLC013115

Website: www.infosys.com

Email: investors@infosys.com

T: 91 80 2852 0261, F: 91 80 2852 0362 

  

Extract of audited consolidated financial results of Infosys Limited and its subsidiaries for the quarter and nine months ended December 31, 2015 prepared in compliance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

( in crore)

Particulars Quarter ending December 31, 2015 Nine months ending December 31, 2015 Quarter ending December 31, 2014
Revenues  15,902  45,891  13,796
Net profit  3,465  9,894  3,250
Paid-up equity share capital (par value  5/- each, fully paid)  1,144  1,144  572
Share premium, retained earnings and
other components of equity
 54,191  54,191  47,244
Earnings per share (par value 5/- each) (1)      
Basic 15.16 43.29  14.22
Diluted 15.16 43.29  14.22

 

(1)adjusted for bonus issues wherever applicable

 

1. The audited consolidated financial statements for the quarter and nine months ended December 31, 2015 have been taken on record by the Board of Directors at its meeting held on January 14, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited consolidated financial statements. The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.

 

2. Changes to the Board

 

i. On January 14, 2016, the Board appointed Dr. Punita Kumar Sinha as an independent director with immediate effect.

 

ii. Ms. Carol M. Browner resigned as member of the Board effective November 23, 2015. The Board placed on record its deep sense of appreciation for the services rendered by her during her tenure as a director.

 

iii. The Board recommended the re-appointment of Prof. Jeffrey S. Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016 to hold office up to April 13, 2018, and not be liable to retire by rotation. Prof. Lehman’s current term of office as an independent director expires on April 13, 2016. The appointment is subject to the approval of the shareholders.

 

3. Investments

 

On November 16, 2015, Infosys acquired 100% membership interest in Noah Consulting, LLC (Noah), a leading provider of advanced information management consulting services for the oil and gas industry. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $33 million (approximately  216 crore), contingent consideration of up to $5 million (approximately  33 crore) and an additional payout of up to $32 million (approximately  212 crore).

 

4. Audited financial results of Infosys Limited (Standalone Information)

(in crore)

Particulars

 

Quarter ending December 31, 2015 Nine months ending December 31, 2015 Quarter ending December 31, 2014
Revenues  13,562  39,825  12,192
Profit before exceptional item and tax  4,376  12,945  4,252
Profit on transfer of business (1)  –  3,036  –
Profit before tax  4,376  15,981  4,252
Profit for the period  3,183  12,387  3,055

 

(1)Exceptional item pertains to profit on transfer of business to EdgeVerve Systems Limited, a wholly owned subsidiary.

The above is an extract of the detailed format of Quarterly Financial Results filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results is available on the stock exchange websites, www.nseindia.com and www.bseindia.com, and on the Company’s website, www.infosys.com.

Certain statements in this advertisement 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, 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, 2015. 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 advertisement is January 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.

 

 

 

  Infosys Limited

Regd. office: Electronics City, Hosur Road, Bengaluru – 560 100, India

CIN : L85110KA1981PLC013115

Website: www.infosys.com

Email: investors@infosys.com

T: 91 80 2852 0261, F: 91 80 2852 0362 

  

Audited financial results of Infosys Limited for the quarter and nine months ended December 31, 2015

 

(in crore, except equity share and per equity share data)

Particulars  Quarter ended
December 31,
 Quarter ended
September 30,
 Quarter ended
December 31,
Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Income from software services and products 13,562 13,525 12,192 39,825 35,374  47,300
Expenses:            
Employee benefit expenses  7,103  6,985  6,358  20,905  18,932  25,115
Deferred consideration pertaining to acquisition  18  46  55  110  168  219
Cost of technical sub-contractors  1,226  1,035  777  3,225  2,073  2,909
Travel expenses  360  425  329  1,217  1,035  1,360
Cost of software packages and others  200  335  290  826  756  979
Communication expenses  73  80  116  232  294  384
Consultancy and professional charges  153  123  114  408  248  396
Depreciation and amortization expense  275  272  229  799  672  913
Other expenses  515  423  495  1,388  1,426  1,976
Total expenses  9,923  9,724  8,763  29,110  25,604  34,251
Profit from operations before other income  3,639  3,801  3,429  10,715  9,770  13,049
Other income  737  774  823  2,230  2,446  3,337
Profit before exceptional item and tax  4,376  4,575  4,252  12,945  12,216  16,386
Profit on transfer of business(1)  3,036  3,036  412  412
Profit before tax  4,376  7,611  4,252  15,981  12,628  16,798
Tax expense  1,193  1,305  1,197  3,594  3,488  4,634
Net Profit for the period  3,183  6,306  3,055  12,387  9,140  12,164
Paid-up equity share capital (par value 5/- each fully paid) (2)  1,148  1,148  572  1,148  572  574
Reserves and surplus  47,494  47,494  41,806  47,494  41,806  47,494
Earnings per share (par value 5/- each) #            
Before exceptional item            
Basic  13.86  14.24  13.37  40.71  38.19  51.17
Diluted  13.86  14.24  13.37  40.71  38.19  51.17
After exceptional item            
Basic  13.86  27.45  13.37  53.93  39.99  52.96
Diluted  13.86  27.45  13.37  53.93  39.99  52.96

 

(1)Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary.
(2) net of treasury shares as at December 31, 2014
#adjusted for bonus issues wherever applicable

 

Notes:

 

1.The audited financial statements for the quarter and nine months ended December 31, 2015 have been taken on record by the Board of Directors at its meeting held on January 14, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited standalone financial statements.

 

2. Changes to the Board

 

i.On January 14, 2016, the Board appointed Dr. Punita Kumar Sinha as an independent director with immediate effect.
ii. Ms. Carol M. Browner resigned as member of the Board effective November 23, 2015. The Board placed on record its deep sense of appreciation for the services rendered by her during her tenure as a director.
iii. The Board recommended the re-appointment of Prof. Jeffrey S. Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016 to hold office up to April 13, 2018, and not be liable to retire by rotation. Prof. Lehman’s current term of office as an Independent Director expires on April 13, 2016. The appointment is subject to the approval of the shareholders.

 

3. Investments

 

On November 16, 2015, Infosys has acquired 100% membership interest in Noah Consulting, LLC (Noah), a leading provider of advanced information management consulting services for the oil and gas industry. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $33 million (approximately 216 crore), contingent consideration of up to $5 million (approximately 33 crore) and an additional payout of up to $32 million (approximately 212 crore).

 

4. Information on dividends for the quarter and nine month ended December 31, 2015

 

An interim dividend of 10/- ( par value 5/- each) per equity share was declared on October 12, 2015 and paid on October 21, 2015. The interim dividend declared in the previous year was 30/-(not adjusted for bonus issues) per equity share.

(in )

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31, Nine months ended
December 31,
Year ended
March 31,
  2015 2015 2014 2015 2014 2015
Dividend per share (par value 5/- each)            
 Interim dividend  10.00  10.00 30.00(1) 30.00(1)
 Final dividend 29.50(2)

 

(1) not adjusted for bonus issues on December 3, 2014 and June 17, 2015

(2) not adjusted for bonus issue on June 17, 2015

 

5. Segment reporting (Standalone-Audited)

(in crore)

Particulars Quarter ended December 31, Quarter ended September 30, Quarter ended December 31, Nine months ended
December 31,
 Year ended March 31,
  2015 2015 2014 2015 2014 2015
Revenue by industry segment            
Financial Services and Insurance (FSI)  4,468  4,418 4,161  13,239 12,049  16,175
Manufacturing (MFG)  2,990  3,123 2,620  8,961 7,596  10,230
Energy & utilities, Communication and Services (ECS)  2,803  2,663 2,556  7,967 7,379  9,756
Retail, Consumer Packaged Goods and Logistics (RCL)  2,379  2,399 2,113  6,975 6,272  8,369
Life Sciences and Healthcare (LSH)  922  922 742  2,683 2,078  2,770
Total  13,562  13,525  12,192  39,825  35,374  47,300
Less: Inter-segment revenue
Net revenue from operations  13,562  13,525  12,192  39,825  35,374  47,300
Segment profit before tax and depreciation            
Financial Services and Insurance (FSI)  1,251  1,316 1,285  3,803 3,637  4,905
Manufacturing (MFG)  870  884 708  2,502 2,103  2,798
Energy & utilities, Communication and Services (ECS)  847  882 789  2,414 2,187  2,920
Retail, Consumer Packaged Goods and Logistics (RCL)  715  717 664  2,073 1,964  2,620
Life Sciences and Healthcare (LSH)  231  274 212  722 551  723
Total  3,914  4,073  3,658  11,514  10,442  13,966
Less: Other unallocable expenditure  275  272 229  799 672  917
Add: Unallocable other income  737  774 823  2,230 2,446  3,337
Profit before exceptional item and tax  4,376  4,575 4,252 12,945 12,216  16,386
Exceptional item(1)  3,036  3,036 412  412
Profit before tax  4,376  7,611  4,252  15,981  12,628  16,798

 

(1)Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary.

 

Notes on segment information:

 

Primary segments

 

The Company's operations predominantly relate to providing end-to-end business solutions to enable clients to enhance business performance. Revenues represented along industries served constitute the primary basis of the segmental information set out above. Effective April 1, 2015, the Company reorganized its segments to support its objective of delivery innovation. This structure will help deliver services that will reflect the way technology is consumed in layers by the client’s enterprise. However the reorganization did not have any impact in the reportable segments as per Accounting Standard 17 'Segment reporting'.

 

Segmental capital employed

 

Assets and liabilities used in the company's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

 

By order of the Board

for Infosys Limited

 

Bangalore, India

January 14, 2016

Dr. Vishal Sikka

Chief Executive Officer and Managing Director

 

Certain statements in this release 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, 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, 2015. 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 January 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.