EX-99.9 CUST CONTRCT 8 exv99w09.htm ADVERTISEMENT exv99w09.htm
Exhibit 99.9
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 infosys
Infosys Technologies Limited
Regd. office: Electronics City, Hosur Road, Bangalore – 560 100, India.
 
 
Audited Consolidated financial results of Infosys Technologies Limited and its subsidiaries for the quarter and nine months ended December 31, 2010 prepared in compliance with International Financial Reporting Standards as issued by International Accounting Standards Board (IFRS)
 
   
(in rupee-symsbolcrore, except per share data)
Particulars
Quarter ended December 31,
Nine months ended December 31,
Year ended March 31,
 
2010
2009
2010
2009
2010
Revenues
 7,106
 5,741
 20,251
 16,798
 22,742
Cost of sales
 4,063
 3,263
 11,682
 9,605
 13,020
Gross profit
 3,043
 2,478
 8,569
 7,193
 9,722
Selling and marketing expenses
 393
 314
 1,112
 851
 1,184
Administrative expenses
 503
 380
 1,457
 1,221
 1,628
Operating profit
 2,147
 1,784
 6,000
 5,121
 6,910
Other income
 290
230
 796
 738
990
Profit before income taxes
 2,437
 2,014
 6,796
 5,859
 7,900
Income tax expense
 657
455
 1,791
 1,240
 1,681
Net profit
 1,780
 1,559
 5,005
 4,619
 6,219
Paid-up equity share capital (par value rupee-symsbol5/- each, fully paid)
 286
 286
 286
286
 286
Share premium, retained earnings and other components of equity
 25,178
 22,134
 25,178
 22,134
 23,787
Earnings per share (par value rupee-symsbol5/- each)
          
Basic
 31.15
 27.33
 87.62
 81.00
 109.02
Diluted
 31.14
 27.30
 87.59
 80.90
 108.90
Dividend per share (par value rupee-symsbol5/- each) (Refer Note 6)
    
 
    
Interim dividend
 –
–
 10.00
 10.00
 10.00
30th year special dividend
 –
–
 30.00
–
–
Final dividend
 –
–
 –
–
 15.00
Total dividend
 –
–
 40.00
 10.00
 25.00
Total Public Shareholding #
          
Number of shares
37,70,79,525
37,39,14,056
37,70,79,525
37,39,14,056
37,48,64,267
Percentage of shareholding
 65.67
 65.19
 65.67
65.19
 65.32
Promoters and Promoter Group Shareholding
          
Pledged / Encumbered
          
Number of shares
 –
–
 –
–
–
Percentage of shares (as a % of the total shareholding of promoter and promoter group)
 –
–
 –
–
–
Percentage of shares (as a % of the total share capital of the company)
 –
–
 –
–
–
Non-encumbered
          
Number of shares
9,20,85,078
9,20,84,978
9,20,85,078
9,20,84,978
9,20,84,978
Percentage of shares (as a % of the total shareholding of promoter and promoter group)
 100.00
 100.00
 100.00
 100.00
 100.00
Percentage of shares (as a % of the total share capital of the company)
 16.04
 16.06
 16.04
 16.06
 16.05
# Total Public Shareholding as defined under Clause 40A of the Listing Agreement excludes shares held by founders and American Depository Receipt Holders
 
1.  
The audited financial statements have been taken on record by the Board of Directors at its meeting held on January 13, 2011. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited financial statements as stated. The financial statements are prepared in accordance with International Financial Reporting Standards as issued by International Accounting Standards Board (IFRS).
2.  
The Securities Exchange Board of India (SEBI) vide its circular dated April 5, 2010 permitted listed entities having subsidiaries to voluntarily submit the consolidated financial statements as per IFRS. Consequent to this, the company has voluntarily prepared and published audited consolidated IFRS Financial Statements for the quarter and nine months ended December 31, 2010 as well as for fiscal year 2010.
 
3.  
Other information (Consolidated - Audited)
 
 
(in rupee-symsbolcrore)
Particulars
Quarter ended December 31,
Nine months ended December 31,
Year ended March 31,
 
2010
2009
2010
2009
2010
Staff costs
 3,840
 3,029
 10,904
 8,891
 12,093
Items exceeding 10% of aggregate expenditure
 –
–
 –
–
–
Details of other income:
          
Interest on deposits with banks and others
 272
 159
 766
 583
 779
Income from available-for-sale financial assets/investments
 1
 41
 23
 74
 160
Miscellaneous income, net
 1
 11
 6
 17
 21
Gains/(losses) on foreign currency
 16
 19
 1
 64
 30
Total
 290
 230
 796
 738
 990
 
 
4.  
Audited Financial Results of Infosys Technologies Limited (Standalone Information)
 
 
(in rupee-symsbolcrore)
Particulars
Quarter ended December 31,
Nine months ended December 31,
Year ended March 31,
 
2010
2009
2010
2009
2010
Revenues
 6,534
 5,335
 18,717
 15,640
 21,140
Profit before tax and exceptional item
 2,268
 1,911
 6,424
 5,572
 7,472
Profit after tax before exceptional item
 1,641
 1,471
 4,713
 4,373
 5,755
Profit after tax and exceptional item
 1,641
 1,471
 4,713
 4,373
 5,803
Note: The audited results of Infosys Technologies Limited for the quarter and nine months ended December 31, 2010 is available on our website www.infosys.com
 
5.  
The Board of Directors, today appointed Mr. R Seshasayee as an Additional Director of the company with immediate effect. 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.
 
6.  
An interim dividend of rupee-symsbol10/- per equity share and a 30th year special dividend of rupee-symsbol30/- per equity share was declared by the Board on October 15, 2010 and was paid on October 25, 2010. The interim dividend declared in the previous year was rupee-symsbol10/- per equity share.
 
 
7. 
Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended December 31, 2010
   
 
Nature of complaints received
Opening balance
Additions
Disposal
Closing balance
 
Non receipt of dividend/Annual report related
–
 168
 167
 1*
 
*Resolved subsequently
        
 
8.  
Matters relating to Subsidiaries:
 
 
a.  
During the quarter and nine months ended December 31, 2010, additional investments of US $3 million (rupee-symsbol14 crore) was made in Infosys Mexico, which is a wholly owned subsidiary. As of December 31, 2010 the company has invested an aggregate of US $12 million (rupee-symsbol54 crore) in the subsidiary.
 
 
b.  
During the quarter and nine months ended December 31, 2010, additional investments of US $2 million (rupee-symsbol10 crore) was made in Infosys Brasil, which is a wholly owned subsidiary. As of December 31, 2010 the company has invested an aggregate of US $8 million (rupee-symsbol38 crore) in the subsidiary.
 
9.  
Segment reporting
 
     
(in rupee-symsbolcrore)
Particulars
Quarter ended December 31,
Nine months ended December 31,
Year ended March 31,
 
2010
2009
2010
2009
2010
Revenue by industry segment
          
Financial services
 2,574
 1,985
 7,274
 5,663
 7,731
Manufacturing
 1,392
 1,106
 3,914
 3,307
 4,506
Telecom
 887
 928
 2,690
 2,752
 3,661
Retail
 1,030
 754
 2,846
 2,264
 3,035
Others
 1,223
 968
 3,527
 2,812
 3,809
Total
 7,106
 5,741
 20,251
 16,798
 22,742
Less: Inter-segment revenue
 –
–
 –
–
–
Net revenue from operations
 7,106
 5,741
 20,251
 16,798
 22,742
Segment profit before tax, depreciation and
non-controlling interest:
          
Financial services
 858
 729
 2,427
 1,977
 2,710
Manufacturing
 451
 344
 1,255
 993
 1,374
Telecom
 333
 387
 934
 1,105
 1,451
Retail
 354
 247
 919
 770
 1,025
Others
 368
 338
 1,109
 995
 1,301
Total
 2,364
 2,045
 6,644
 5,840
 7,861
Less: Other un-allocable expenditure
 217
261
 644
719
 951
(excluding un-allocable income)
          
Operating profit before tax and non-controlling interest
 2,147
 1,784
 6,000
 5,121
 6,910
 
Notes on segment information
 
Principal segments
 
The company’s operations predominantly relate to providing technology services, delivered to clients globally, operating in various industry segments. Accordingly, revenues represented along industries served constitute the primary basis of the segmental information set out above.
 
Segmental capital employed
 
Fixed assets used in the company’s business or liabilities contracted have not been identified to any of the reportable segments, as the fixed assets and support services are used interchangeably between segments. Accordingly, no disclosure relating to total segment assets and liabilities has been made.
 
   
By order of the Board
for Infosys Technologies Limited
     
     
Bangalore, India S. D. Shibulal S. Gopalakrishnan
January 13, 2011 Chief Operating Officer Chief Executive Officer
 
and Director
 and Managing Director
 
The Board has also taken on record the unaudited consolidated results of Infosys Technologies Limited and its subsidiaries for the three months and nine months ended December 31, 2010, prepared as per International Financial Reporting Standards (IFRS). A summary of the financial statements is as follows:
 
(in US$ million, except per ADS data)
Particulars
Three months ended December 31,
Nine months ended December 31,
Year ended March 31,
 
2010
2009
2010
2009
2010
Revenues
1,585
1,232
4,439
3,508
4,804
Cost of sales
 906
 700
 2,561
 2,005
 2,749
Gross profit
 679
 532
 1,878
 1,503
2,055
Net profit
 397
 334
 1,097
 964
 1,313
Earnings per American Depositary Share (ADS)
          
Basic
 0.69
 0.59
 1.92
 1.69
 2.30
Diluted
 0.69
 0.59
 1.92
 1.69
 2.30
Total assets
 6,558
5,578
 6,558
5,578
6,148
Cash and cash equivalents including available-for-sale financial assets and certificates of deposit
3,555
3,105
3,555
3,105
3,524
 
Statements in connection with this release may include forward-looking statements within the meaning of U.S. Securities laws intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31, 2010, and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.