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Infosys: Ifrs Usd Press Release

The following excerpt is from the company's SEC filing.

Exhibit 99.1

IFRS USD Press Release

Infosys (NYSE: INFY) Announces Results for the Quarter ended September 30, 2015

Q2 revenue growth highest in last 16 quarters* - 6.0% in reported terms and 6.9% in constant currency

Q2 revenue growth 14.2% yoy in constant currency

TCV of large deals signed in Q2 at $ 983 mn

Interim dividend of

10 per share (app. $ 0.15 per ADS)

FY 16 revenue guidance retained at 10%-12% in constant currency; 6.4%-8.4% in USD terms

*Excluding acquisitions

Financial Highlights

C onsolidated results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2015

Revenues were $ 2,392 million for the quarter ended September 30, 2015

QoQ growth was 6.0% in reported terms; 6.9% in constant currency terms

YoY growth was 8.7% in reported terms; 14.2% in constant currency terms

Net profit was $ 519 million for the quarter ended September 30, 2015

QoQ growth was 9.1%

YoY growth was 1.6%

Earnings per share (EPS) was $ 0.23 for the quarter ended September 30, 2015

Liquid assets including cash and cash equivalents, available-for-sale financial assets and government bonds were $4,894 million as on September 30, 2015 as compared to $4,750 million as on June 30, 2015

The Board of Directors declared an interim dividend of

10 per share (equivalent to app. $ 0.15 per ADS at the exchange rate of

65.59). The record date for payment of dividend is October 19, 2015.

Infosys spent $9 million in Q2, towards Corporate Social Responsibility (CSR) which is primarily being carried out through the Infosys Foundation, its philanthropic arm. The Infosys Foundation is engaged in several programs aimed at alleviating hunger, promoting education, computing literacy, improving health, assisting rural development, supporting arts and helping the destitute

Other Q2 Highlights

Per capita revenue increased by 2.6% in reported terms and 3.4% in constant currency terms

5 large deals signed with TCV of $ 983 mn

Added 82 clients; total number of clients crosses 1,000

“We are experiencing a once-in-a-generation opportunity for a services company to help businesses maximize their potential with technology. From automation and AI helping to simplify and enable existing landscapes as well as build intelligent systems that help us solve our most complex emerging problems, to education and design helping us to rethink the human experience and helping uncover our most important horizons, a great services organization can truly partner with and amplify businesses,”

said Dr. Vishal Sikka, CEO and MD.

“At Infosys, we are taking steps towards becoming such a services organization, and I am encouraged by our progress. While results in any one quarter are transitory snapshots of a long journey, we do see our focused execution along our strategy starting to produce encouraging results for our clients, shareholders and Infoscions.”

We had strong all-round growth during the quarter driven by recent initiatives around service differentiation, improvement in client mining and higher focus on winning large deals”,

said Mr. U. B. Pravin Rao, COO

. “Increase in revenue productivity was significant, volume growth was robust, client metrics and utilization improved while attrition remained stable.”

“Our relentless focus on operational efficiencies has resulted in increase in operating margins despite higher variable payouts”,

said Rajiv Bansal, CFO.

“The impact of significant currency volatility was effectively mitigated by our proactive hedging program.”


The Company’s outlook (consolidated) for the fiscal year ending March 31, 2016, under IFRS is as follows:

Revenues guidance as been retained. Revenues are expected to grow 10%-12% in constant currency;

Revenues are expected to grow 6.4%-8.4% in USD terms

*Conversion: AUD/USD – 0.70; Euro/USD – 1.12; GBP/USD – 1.52 for rest of fiscal 2016

Business Highlights

We continue to make progress on our renew-new strategy with focus on improving client relationship management, proposal quality as well as discipline around large deals, pipeline and operational efficiencies are helping. At the same time, we are seeing our clients on a shared path with us to leverage the next-generation of services, in which software, platforms and systems amplify people.

Client Wins

We signed a three-year agreement with TOMS Shoes to become its worldwide partner to maintain and develop its digital platform. The agreement will enable TOMS to streamline the management of its web-based properties and introduce automation technologies to lower overall support and development costs.

ABB (ASEA Brown Boveri), a Swiss high-tech engineering multinational operating mainly in robotics, power and automation, has entered into an agreement with us to implement its global product compliance program in ABB’s Low Voltage Products (LP) division. As a part of this agreement, we will program manage, implement, roll out and support a product compliance solution to manage compliance of LP’s products.

In India, the Goods and Services Tax Network (GSTN), a non-government, non-profit, private limited company has awarded Infosys an

1,380 crore (~USD 210 Million) contract to build and maintain the GSTN system for five years.

We were chosen by Saks Fifth Avenue, an American luxury retail store chain − owned by the Canadian retailer, Hudson's Bay Company − to implement an omni-channel solution that will help improve its digital commerce business.

We announced a strategic partnership with ATP to leverage the latest technological advances in mobility, cloud and analytics powered by the Infosys Information Platform to transform the experience of tennis fans and players the world over. We are the Global Technology Services Partner and Platinum Sponsor of the ATP World Tour, as well as the season-ending Barclays ATP World Tour Finals, for the next three years.

A global food service retailer chose us as its largest cloud and infrastructure services partner. Our solutions will improve customer experience, manage a multi-vendor ecosystem, drive change and innovation and bring a flexible IT consumption model supported by talent and robust global governance. This was a new account opening, and a large deal win for us.

A payments technology firm chose us as its sole strategic partner for its issuer processing line of business. We will now be its leading global technology services provider and partner to develop and sell joint go-to-market solutions leveraging our offerings in Finacle, Edge and IIP. In addition, we will be the system integrator for the client’s products and will be collaborating to implement its products for banks and financial institutions globally.

A leading benefits administrator for long-term care programs for U.S. federal employees engaged us to develop a member-enrollment portal based on responsive web-design methodology, delivering a new kind of user experience to employees. This portal will support administration of a new program and the Supplemental Health Benefits Program, for a federal agency.

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