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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 and Year ended March 31, 2016

Q4 Revenue growth at 1.6% qoq in USD terms; 1.9% in constant currency terms

Q4 operating margin at 25.5%; increase of 0.6% from Q3 operating margin of 24.9%

FY 16 Revenue growth at 9.1% in USD terms; 13.3% in constant currency terms

FY 17 revenue guidance at 11.5%-13.5% in constant currency and 11.8%-13.8% in USD terms at March 31, 2016 exchange rates

Board recommended a final dividend of

14.25 per share

Bangalore, India – April 15, 2016

Financial Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2016

Revenues were $ 2,446 million for the quarter ended March 31, 2016

QoQ growth was 1.6% in reported terms; 1.9% in constant currency terms

YoY growth was 13.3% in reported terms; 15.0% in constant currency terms

Operating profit was $ 625 million for the quarter ended March 31, 2016

QoQ growth was 4.3%

YoY growth was 12.6%

Net profit was $ 533 million for the quarter ended March 31, 2016

QoQ growth was 1.7%

YoY growth was 7.0%

Earnings per share (EPS) was $ 0.23 for the quarter ended March 31, 2016

QoQ growth was 1.7%

YoY growth was 7.0%

Revenues were $ 9,501 million for the year ended March 31, 2016

YoY growth was 9.1% in reported terms; 13.3% in constant currency terms

Operating profit was $ 2,375 million for the year ended March 31, 2016

YoY growth was 5.2%

Net profit was $ 2,052 million for the year ended March 31, 2016

YoY growth was 1.9%

Earnings per share (EPS) was $ 0.90 for the year ended March 31, 2016

Liquid assets including cash and cash equivalents, available-for-sale financial assets and government bonds were $ 5,202 million as on March 31, 2016 as compared to $ 4,765 million as on December 31, 2015 and $ 5,214 million as on March 31, 2015

The Board of Directors recommended a final dividend of

14.25 per share for fiscal 2016. This translates to a final dividend of $ 0.22 per share (at USD-INR rate of 66.26).

“I am proud of our company’s achievements in my first fiscal year as CEO of Infosys. At the same time, I am humbled by the task that is still in front of us. We started the year just two quarters into a strategy to completely reimagine the notion of services and to transform Infosys. Over the course of this year, we saw this strategy, of bringing automation and innovation to our clients, on a foundation of learning and education, start to show results in the organic growth of our client relationships, in our win rates in large deals, and in the types of projects we are seeing in strategic areas where we never participated before. I am proud of what our teams have achieved this quarter and in the year,"

Dr. Vishal Sikka, CEO

. "And yet despite these heartening results, they are still based on metrics of the past, of the way the industry has been. The world of our future looks entirely different – it is a world that is being fundamentally reshaped by digital technologies, and it is our endeavor to create great value for every business through solutions built on our AI technology and open, cloud platforms, to have Infoscions amplified by intelligent technology, to bring purposeful innovation to life, and in that sense, we are still very much at the beginning of this journey.”

“Employee attrition reduced further in Q4, and is reflective of increased engagement with our people all through the year, and our steps to make Infosys an exciting place for the world’s best talent. We continue to reimagine our internal processes to increase organizational agility.”

said U B Pravin Rao, COO

. “The momentum of large deal wins continued this quarter and bookings were strong.”

“Our growth trajectory improved in FY 16 and we navigated the external business environment well. We will continue to focus on leveraging operational efficiency levers for consistent profitable growth.”

said M.D. Ranganath, CFO.

“During the quarter, cash generation was strong. We managed a volatile currency environment effectively.”


The Company’s outlook (consolidated) for the fiscal year ending March 31, 2017, under IFRS is as follows:

Revenues are expected to grow 11.5%-13.5% in constant currency*;

Revenues are expected to grow 11.8%-13.8% in USD terms based on the exchange rates as of March 31, 2016**

*AUD/USD – 0.73; Euro/USD – 1.10; GBP/USD – 1.51

**AUD/USD – 0.77; Euro/USD – 1.14; GBP/USD – 1.44

Management Changes

The Company announced that Mr. Mohit Joshi, Mr. Ravi Kumar S and Mr. Sandeep Dadlani have been appointed as Presidents of the company effective immediately.

Business Highlights

This quarter we made significant advances in our strategy to deliver automation and innovation through our traditional and new service offerings, our platforms and tools, and through investments in the broader ecosystem – enabling us to create more depth in existing client relationships, win more deals and specifically large deals, and open up entirely new types of strategic projects for Infosys.

Driving depth in client relationships, and winning large deals

ConAgra Foods, Inc., one of North America’s leading packaged food companies, chose us as a strategic partner for a multi-year managed services deal that will support ConAgra’s Application, Infrastructure and Information Security systems. The design-thinking led solution will leverage Panaya and the Infosys Automation Platform (IAP) to help the client reduce total effort in support, upgrade and testing and will drive innovation, improve service levels, and reduce operating costs.

For Welsh Water, a large utilities company, we will be responsible for the setup, migration and execution of data center facilities and services, managing over 400 critical network links, business applications, server and storage management. We will also transform and manage the client’s internal network communications and IP telephony services and infrastructure. The deal includes managing all projects in the client’s IT ecosystem including virtualization, operating system strategy, database platforms and more.

Growing momentum in new services, platforms and tools

We continued to see new strategic projects coming to Infosys based on our Aikido service offerings as well as our platforms and tools.

IIP – Completed more than 220 engagements leveraging IIP; announced availability of IIP on AWS.

This quarter we announced the...