EX-99.12 TAX OPINION 9 exv99w08.htm FORM OF ADVERTISEMENT exv99w08.htm
Exhibit 99.8
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Infosys Limited
Registered Office : Electronics City, Hosur Road, Bangalore – 560 100, India.
 
 
Audited Consolidated Financial Results of Infosys Limited and its subsidiaries for the quarter ended June 30, 2012 prepared in compliance with International Financial Reporting Standards as issued by International Accounting Standards Board (IFRS)
(in Rupee Symbol crore, except share and per equity share data)
Particulars
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Revenues
 9,616
 8,852
 7,485
 33,734
Cost of sales
 5,810
 5,199
 4,577
 19,808
Gross profit
 3,806
 3,653
 2,908
 13,926
Selling and marketing expenses
 469
 452
 398
 1,757
Administrative expenses
 644
 554
 558
 2,390
Operating profit
 2,693
 2,647
 1,952
 9,779
Other income
 476
 652
 443
 1,904
Profit before income taxes
 3,169
 3,299
 2,395
 11,683
Income tax expense
 880
 983
 673
 3,367
Net profit
 2,289
 2,316
 1,722
 8,316
Paid-up equity share capital (par value rupee symbol 5/- each, fully paid)
 286
 286
 286
 286
Share premium, retained earnings and other components of equity *
 33,175
 27,017
 27,017
 27,017
Earnings per share (par value rupee symbol 5/- each)
 
 
 
 
Basic
 40.06
 40.54
 30.14
 145.55
Diluted
 40.06
 40.54
 30.14
 145.54
Total Public Shareholding #
 
 
 
 
Number of shares
40,75,19,363
40,47,81,601
39,79,13,381
40,47,81,601
Percentage of shareholding
 70.96
 70.49
 69.30
 70.49
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
9,20,85,078
9,20,85,078
9,20,85,078
Percentage of shares (as a % of the total shareholding of promoter and promoter group)
 100.00
 100.00
 100.00
 100.00
Percentage of shares (as a % of the total share capital of the company)
 16.04
 16.04
 16.04
 16.04
 
*
Represents the previous accounting year balance as required under Clause 41 of the listing agreement.
#
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 consolidated financial statements for the quarter ended June 30, 2012 have been taken on record by the Board of Directors at its meeting held on July 12, 2012. 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 International Financial Reporting Standards as issued by International Accounting Standards Board (IFRS).
 
2. Information on dividends for the quarter ended June 30, 2012
(in Rupee Symbol )
Particulars
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Dividend per share (par value rupee symbol 5/- each)
 
 
 
 
Interim dividend
–
–
–
 15.00
Special dividend – 10 years of Infosys BPO operations
–
 10.00
–
 10.00
Final dividend
–
 22.00
–
 22.00
Total dividend
–
 32.00
–
 47.00
 
The final dividend of Rupee Symbol 22/- per equity share for fiscal 2012 and a special dividend – 10 years of Infosys BPO operations of Rupee Symbol 10/- per equity share was approved by the shareholders at the Annual General Meeting of the company held on June 9, 2012 and the same was paid on June 11, 2012.
 
3. Other information (Consolidated – Audited)
(in Rupee Symbol crore)
Particulars
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Staff costs
 5,260
 4,787
 4,245
 18,340
Items exceeding 10% of aggregate expenditure
 –
–
–
–
Details of other income:
 
 
 
 
Interest on deposits with banks and others
 480
 584
 387
 1,807
Income from available-for-sale financial assets / investments
 26
 4
 5
 27
Miscellaneous income, net
 4
 4
 6
 18
Gains / (losses) on foreign currency
 (34)
 60
 45
 52
Total
 476
 652
 443
  1,904
 
4. Audited financial results of Infosys Limited (Standalone information)
(in Rupee Symbol crore)
Particulars
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Revenues
 8,909
 8,183
 6,905
 31,254
Profit before tax and exceptional item
 3,047
 3,111
 2,298
 11,096
Profit after tax before exceptional item
 2,204
 2,275
 1,654
 7,986
Profit after tax and exceptional item
 2,204
 2,759
 1,654
 8,470
Note:The audited results of Infosys Limited for the above mentioned periods are available on our website www.infosys.com. The information above has been extracted from the audited financial statements as stated.
 
5. Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended June 30, 2012
 
Nature of complaints received
Opening balance
Additions
Disposal
Closing balance
Non receipt of dividend / Annual report related
–
 186
 186
–
 
6. Segment reporting
(in Rupee Symbol crore)
Particulars
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Revenue by industry segment
 
 
 
 
Financial services and insurance (FSI)
 3,302
 3,037
 2,648
 11,830
Manufacturing enterprises (MFG)
 2,120
 1,883
 1,523
 6,933
Energy, utilities and telecommunication services (ECS)
 1,915
 1,902
 1,615
 7,232
Retail, logistics, consumer product group, life sciences and health care enterprises (RCL)
 2,279
 2,030
 1,699
 7,739
Total
 9,616
 8,852
 7,485
 33,734
Less: Inter-segment revenue
–
–
–
–
Net revenue from operations
 9,616
 8,852
 7,485
 33,734
Segment profit before tax, depreciation and non-controlling interest:
 
 
 
 
Financial services and insurance (FSI)
 1,027
 1,035
 767
 3,840
Manufacturing enterprises (MFG)
 635
 587
 420
 2,076
Energy, utilities and telecommunication services (ECS)
 546
 604
 487
 2,318
Retail, logistics, consumer product group, life sciences and health care enterprises (RCL)
 740
 666
 502
 2,489
Total
 2,948
 2,892
 2,176
 10,723
Less: Other un-allocable expenditure
 255
 245
 224
 944
Add: Un-allocable other income
 476
 652
 443
 1,904
Profit before tax and non-controlling interest
 3,169
 3,299
 2,395
 11,683
 
Notes on segment information
 
Principal segments
 
The company's operations predominantly relate to providing technology services, delivered to clients globally, and operating across various industry segments. Accordingly, revenues represented along industries served constitute the primary basis of the segmental information set out above.
 
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. 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.
 
The previous period figures, extracted from consolidated audited financial statements, have been presented after incorporating necessary reclassification adjustments pursuant to changes in reportable segments.
 
Bangalore, India
July 12, 2012
By order of the Board
for Infosys Limited
 
S. D. Shibulal
Chief Executive Officer
and Managing Director
 
 
The Board also took on record the unaudited consolidated results of Infosys Limited and its subsidiaries for the three months ended June 30, 2012, 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
Quarter ended June 30,
Quarter ended March 31,
Quarter ended June 30,
Year ended March 31,
 
2012
2012
2011
2012
Revenues
1,752
1,771
1,671
6,994
Cost of sales
 1,059
 1,041
 1,022
 4,118
Gross profit
 693
 730
 649
 2,876
Net profit
 416
 463
 384
 1,716
Earnings per American Depositary Share (ADS)
 
 
 
 
Basic
 0.73
 0.81
 0.67
 3.00
Diluted
 0.73
 0.81
 0.67
 3.00
Total assets
7,116
7,537
 7,146
7,537
Cash and cash equivalents including available-for-sale financial assets and certificates of deposit
3,695
4,121
 3,795
4,121
 
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, 2012, and our other recent filings. 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.