Infosys (NASDAQ: INFY) Announces Results for the Quarter Ended June 30, 2012

Bangalore, India (ots/PRNewswire) -

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Q1 Revenues grew by 4.8% Year on Year

Highlights

Consolidated results under International Financial Reporting
Standards (IFRS) for the quarter ended June 30, 2012

- Revenues were $1,752 million for the quarter ended June 30, 2012;
YoY growth was 4.8%
- Net income after tax was $416 million for the quarter ended June 30, 2012;
YoY growth was 8.3%
- Earnings per American Depositary Share (EPADS) was $0.73 for the quarter ended
June 30, 2012; YoY growth was 9.0%
- 51 clients were added during the quarter by Infosys and its subsidiaries
- Gross addition of 9,236 employees (net addition of 1,157) for the quarter by
Infosys and its subsidiaries
- 151,151 employees as on June 30, 2012 for Infosys and its subsidiaries

"Our focus on Infosys 3.0 and building tomorrow's enterprise
coupled with disciplined execution will help us deliver high-quality
growth, despite challenges seen in the global economic situation
resulting in slower IT spends by large corporations," said S. D.
Shibulal, CEO and Managing Director.

Business outlook*

The company's outlook (consolidated) for the fiscal year ending
March 31, 2013, under IFRS is as follows:

- Revenues are expected to be at least $7.343bn;
YoY growth of 5.0% (6% in constant currency terms)
- Earnings per American Depositary Share (EPADS) is expected to be at least
$3.03; YoY growth of 1.0%

* Exchange rates considered for major global currencies: AUD /
USD - 1.02; GBP / USD - 1.56; Euro / USD - 1.26 for rest of fiscal
2013

Awards and Recognition

Infosys was recognized by analysts, industry bodies and other
influencers in the last quarter

- Infosys and British Telecom jointly won the prestigious Global Telecoms
Business Innovation Award 2012 under the Business Service Innovation category.
- The Infosys - RioTinto relationship won the Outsourcing Excellence Award, for
Best New Process/Application from Outsourcing Center, an Alsbridge company.
- We were awarded the Pegasystems Excellence in Solution Development Award for a
best-in-class insurance service delivery platform.
- Spirit AeroSystems recognized Infosys with the Platinum Award for consistent
high-quality engineering services.
- We received the 2012 IT Partner of the Year Award from Analog Devices, a
global leader in high-performance semiconductors for signal processing applications.
- The Asian Banker Technology Implementation Awards 2012 saw Finacle(TM) along
with DBS Bank winning the Best Core Banking Implementation for Regional and
International Banks Award.
- Another Finacle(TM) client, ING Vysya Bank won the Best Corporate Internet
Banking Initiative Award.
- Finacle(TM) also won joint first place in the Core Banking Technology Provider
of the Year category at The Banker's Innovation in Banking Technology Awards, 2012.
- We have been identified as one of the top 25 performers in the Caring for
Climate Initiative by UN Global Compact and UN Environment Program.
- We have also been recognized as an innovation leader in India in KPMG's 2012
Global Technology Innovation Survey.

Expansion of services and significant projects

Infosys is focused on delivering measurable business value to
clients - be it initiating transformational process changes,
accelerating innovation or optimizing operations

Consulting and Systems Integration

A processed and packaged goods food company has engaged us in a
SAP advanced planning optimizer (APO) project to support its growth
strategy by improving supply chain visibility, reducing cost and
inventory, and increasing speed and agility to meet dynamic market
demands. We are creating and implementing a roadmap for the online
business for a retailer, designed to make it competitive in the
rapidly growing e-commerce industry.

We were selected by a European energy trading house to develop
and implement a capability platform strategy, designed to manage a
dynamic business environment, improve competitiveness and reduce
time-to-market. We have been selected as the strategic partner to
implement the Oracle Product Management suite for a Middle Eastern
food control authority to automate processes leading to faster
response time, predictability and cost control.

A business real estate developer in the Asia Pacific (APAC)
region has engaged us to define its IT outsourcing strategy and
structure its IT shared services functions. For a mobile virtual
network operator (MVNO) in UK, we are managing its e-commerce
platform and will drive all future enhancements towards improving
customer experience and increasing revenue share through the online
channel. An automotive infotainment manufacturer partnered with us to
streamline its sales, procurement and finance processes across
various subsidiaries by providing new enterprise resource planning
(ERP) solutions.

Business IT Services

For a large financial corporation, we are implementing a single
sign-on solution for its commercial banking customers, providing
simplified access to all commercial banking applications through a
unified portal, enabling improved and superior customer experience. A
luxury retailer has engaged us to work with its supply chain business
team for the global classification of its products, free trade
agreement planning, and bill of material analysis to reduce duties on
international shipments. A managed network services company partnered
with us to transform its service assurance platform to provide a
flexible, scalable and high performance solution to serve
end-customers.

We have been selected by a Middle Eastern travel house to help
overhaul its IT systems to bring in greater operational efficiencies
and enhance customer experience. An electricity and natural gas
provider partnered with us to lower costs, automate and improve its
helpdesk processes by introducing new technology and processes. An
Australian water utility has engaged us to review its off-contract
spends in the areas of maintenance, repairs and overhauls across 30
sites to develop a procurement plan that will identify key areas of
spend suitable for sourcing activities and, in turn, enable
considerable savings. A dairy company in Australia selected us to
implement a significant procurement cost savings program covering a
wide range of direct and indirect procurement categories including
packaging, contract labor and maintenance related consumables.

Infosys Public Services

We are partnering with healthcare and public sector organizations
in the U.S. and Canada to help them leverage the potential of
technology to derive business value

A Blue Cross Blue Shield Plan is working with us to develop and
maintain its benefits and services portal to configure custom health
plans, streamline service delivery, and improve customer engagement
as part of its strategic multi-year program to transform enterprise
product processes. Another Blue Cross Blue Shield Plan selected our
iTransform(TM) Payout Simulator product and engaged us to perform
end-to-end International Statistical Classification of Diseases and
Related Health Problems, 10th Revision (ICD-10) testing including
benefit and financial neutrality for its ICD-10 compliance program
mandated by the U.S. government.

Municipal government authorities of a North American city engaged
us to conduct a security threat and risk assessment of the
Voice-over-IP (VoIP) solution for its unified communication
initiative to ensure compliance with various security standards. We
are part of a contractor team supporting on-site IT infrastructure
management and consolidation efforts including enterprise service
oriented architecture (SOA) implementation and server optimization
for a federal U.S. agency.

Engineering Services

Infosys provides a wide range of engineering solutions, ranging
from product ideation to realization and sustenance. With 9,000
engineers working with more than 200 clients in over 30 countries, we
offer engineering and technology services to support our clients'
entire product lifecycle.

A European telecom company has partnered with us to implement its
next generation security platform on niche technologies such as
Internet Protocol version 6 (IPV6). A semiconductor major chose us
for the development, integration and validation of its firmware
solution built on the next generation tablet and smartphone
platforms.

An auto and truck parts supplier has partnered with us for the
concept design of its future engines, sub-systems and accelerating
new product development. A supplier of interconnect components and
cables has selected us to define, select, plan and implement its
future product lifecycle management systems, to accelerate its
product development process. A leader in helicopter transportation
services has partnered with us to standardize and enhance its
disparate technical publication systems spread across the globe and
improve its performance.

An aero engine manufacturer has engaged us to implement a
simulation data management system. A North American insurance company
has selected us to upgrade its enterprise telephony infrastructure
and enhance the stability, scalability, infrastructure availability
to customers. An automotive original equipment manufacturer (OEM)
partnered with us to automate the testing of its gasoline engine
control systems with recommendations on architectural improvement,
mathematical modeling and software tools.

Products, Platforms and Solutions

This quarter we added 10 clients (three products and seven
platforms) across Products and Platforms. We also unveiled Infosys
BrandEdge(TM) in partnership with Fabric, a WPP company. This
first-of-its-kind comprehensive cloud-based offering, simplifies
digital marketing by bringing together integrated marketing and
technology expertise on a single unified platform.

Infosys SocialEdge(TM) is being utilized by a U.S. high-tech
manufacturing company to build the next generation employee
collaboration platform to increase workforce productivity, enable
co-creation and drive innovation across different departments. A
consumer packaged goods company has selected Infosys TradeEdge(TM) to
improve data collection from distributors, retailers etc. The
platform will use this data to help plan production, distribution and
other aspects of the supply chain.

Finacle(TM)

Finacle(TM) our universal banking solution continued to grow this
quarter with 10 wins in the last three months. Of this, five were
from Europe, Middle East and Africa (EMEA) and five were from the
Asia-Pacific (APAC) region. Of the nine client projects that went
live, six were in EMEA while the other three were in the APAC region.

This quarter we launched the Finacle(TM) Digital Commerce
Solution, which leverages the power of digital money to unlock new
revenue streams, extend distribution reach and foster customer
loyalty for financial institutions, telecom service providers and
retailers. The solution has been selected by Standard Bank to drive
agency banking and increase financial service efficiency across
Africa.

Cloud

We continue to grow our cloud business and have executed over 150
engagements and have 3,000 experts in our cloud practice

Over the last quarter, we won over 20 programs across cloud
services, Big Data and Security. We continue to strengthen our value
proposition for clients by being a cloud Ecosystem Integrator and
working with over 30 partners. We have been selected as the sole
sourced partner for cloud strategy and Big Data infrastructure for a
North American manufacturer, providing architecture consulting,
roadmap and best practices to enable an industry class cloud
deployment on a public cloud for an information services platform. As
part of the engagement, we will also devise a Big Data strategy and
roadmap for the client.

A gaming company in North America has partnered with us to build
a new state-of-the-art Big Data consolidated architecture for its
games portfolio. A transportation major in North America has engaged
us to re-host its mainframe applications and migrate multiple
applications onto a private cloud. We were also selected to re-host
mainframe applications on a private cloud for an apparel retailer.

Enterprise Mobility

The Infosys Enterprise Mobility practice continues to gain
traction in the marketplace with over 150 engagements, 200
application roll-outs, 60 clients and over 1,200 Mobility
professionals and experts serving our customers

In the last quarter, Enterprise Mobility won over 10 engagements
across areas of workforce productivity, field sales and enablement,
supply chain, mobile commerce and guided selling. A U.S. based
aerospace major partnered with us to create a mobile-based sales and
marketing solution to provide product information on the move,
thereby helping its sales force create a better visual experience for
potential customers.

A manufacturer of industrial products selected us to create a
mobile-based product ordering solution for its resellers and
distributors to manage demand forecasting and replenish stocks in
real time. For a South African bank, we are creating a tablet-based
solution on Infosys intellectual property (IP) - the Guided Sales
solution, to help its sales staff customize and sell financial
products to its customers. For a personal benefits and human resource
(HR) management company, we are enhancing employee productivity by
enabling Information System applications on the mobile, resulting in
an efficient sales force and additional revenue through superior
sales efficiency.

We have been engaged by a pharmaceutical major to define and
implement an enterprise wide mobile strategy and roadmap,
accelerating the rollout of mobile applications and thereby offer
greater benefits to its field force, customers, healthcare providers
and patients. For an American logistics major, we are working on
enterprise-wide mobile applications that provide real-time
information about trains and tracks to optimize traffic across
various railroad routes.

Patents

During the first quarter, Infosys applied for 36patent
applications in India and the U.S. With this, Infosys has an
aggregate of 507unique patent applications (pending) in India, U.S.
and other jurisdictions and has been granted 50 patents by the United
States Patent and Trademark Office and 1 patent by Luxembourg patent
office.

Liquidity

As on June 30, 2012, cash and cash equivalents, including
investments in available-for-sale financial assets, certificates of
deposits and government bonds was $3.7bn ($3.8bn as on June 30,
2011).

"Global currency volatility continues to be a big challenge for
the industry," said V. Balakrishnan, Member of the Board and Chief
Financial Officer. "We are making the right investments balancing the
short-term needs with long-term opportunities."

About Infosys Ltd

Many of the world's most successful organizations rely on the
151,000 people of Infosys to deliver measurable business value.
Infosys provides business consulting, technology, engineering and
outsourcing services to help clients in over 30 countries build
tomorrow's enterprise.

For more information about Infosys , visit http://www.infosys.com

Safe Harbor

Certain statements in this release concerning our future growth
prospects are forward-looking statements, 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, 2012 and on Form 6-K for the
quarter ended June 30, 2011 September 30, 2011 and December 31,
2011.These filings are available at http://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. 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.

Unaudited Condensed Consolidated Interim Financial Statements
prepared in compliance with IAS 34, Interim Financial Reporting

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Balance Sheets as of

(Dollars in millions except share data)
June 30, 2012 March 31, 2012
ASSETS
Current assets
Cash and cash equivalents $3,242 $4,047
Available-for-sale financial assets 389 6
Investment in certificates of deposit 64 68
Trade receivables 1,240 1,156
Unbilled revenue 362 368
Prepayments and other current assets 315 300
Total current assets 5,612 5,945
Non-current assets
Property, plant and equipment 1,009 1,063
Goodwill 183 195
Intangible assets 32 34
Available-for-sale financial assets 1 2
Investment in government bonds 9 -
Deferred income tax assets 60 62
Income tax assets 189 204
Other non-current assets 21 32
Total non-current assets 1,504 1,592
Total assets $7,116 $7,537
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments $49 $9
Trade payables 7 5
Current income tax liabilities 254 207
Client deposits 2 3
Unearned revenue 139 107
Employee benefit obligations 102 98
Provisions 27 26
Other current liabilities 447 482
Total current liabilities 1,027 937
Non-current liabilities
Deferred income tax liabilities 11 2
Other non-current liabilities 21 22
Total liabilities 1,059 961
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,396,851 and 571,396,401,
net of 2,833,600 treasury shares each as of
June 30, 2012 and March 31, 2012,
respectively 64 64
Share premium 703 703
Retained earnings 6,543 6,509
Other components of equity (1,253) (700)
Total equity attributable to equity holders
of the company 6,057 6,576
Non-controlling interests - -
Total equity 6,057 6,576
Total liabilities and equity $7,116 $7,537

Infosys Limited and subsidiaries

Unaudited Condensed Consolidated Statements of Comprehensive
Income

(Dollars in millions except share and per equity share data)
Three months Three months
ended June ended June
30, 2012 30, 2011
Revenues $1,752 $1,671
Cost of sales 1,059 1,022
Gross profit 693 649
Operating expenses:
Selling and marketing expenses 86 89
Administrative expenses 118 125
Total operating expenses 204 214
Operating profit 489 435
Other income, net 87 99
Profit before income taxes 576 534
Income tax expense 160 150
Net profit $416 $384
Other comprehensive income
Fair value changes on available - for-sale
financial asset, net of tax effect (1) -
Exchange differences on translating foreign
operations (552) (7)
Total other comprehensive income $(553) $(7)
Total comprehensive income $(137) $377
Profit attributable to:
Owners of the company $416 $384
Non-controlling interest - -
$416 $384
Total comprehensive income attributable to:
Owners of the company $(137) $377
Non-controlling interest - -
$(137) $377
Earnings per equity share
Basic ($) 0.73 0.67
Diluted ($) 0.73 0.67
Weighted average equity shares used in
computing earnings per equity share
Basic 571,396,551 571,333,499
Diluted 571,398,141 571,396,376

NOTE:

1. The unaudited Condensed Consolidated Balance sheets and
Condensed Consolidated Statements of Comprehensive Income for the
three months ended June 30, 2012 has been taken on record at the
Board meeting held on July 12, 2012

2. A Fact Sheet providing the operating metrics of the company
can be downloaded from http://www.infosys.com

http://multivu.prnewswire.com/infosys/factsheet-q1-2013.pdf

http://multivu.prnewswire.com/infosys/inr-pressrelease-6.pdf

Contact
Investor Relations
Avishek Lath, India
+91-80-4116-7744
avishek_lath@infosys.com
Sandeep Mahindroo, US
+1-646-254-3133
sandeep_mahindroo@infosys.com
Media Relations
Sarah Vanita Gideon,
+91-80-4156-4998
Sarah_Gideon@infosys.com
India Danielle D'Angelo, USA
+1-510-859-5783
Danielle_Dangelo@infosys.com

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