Indian GAAP | US GAAP
Indian GAAP - Q2 FY01
Infosys Technologies Limited
| in Rs. | |||||
|---|---|---|---|---|---|
| STATEMENT OF CASH FLOWS | Quarter ended September 30, | Half year ended September 30, | Year ended March 31, 2000 | ||
| 2000 | 1999 | 2000 | 1999 | ||
| Cash flows from operations | |||||
| Profit before tax | 171,76,22,579 | 75,20,82,803 | 306,77,41,328 | 143,81,64,641 | 325,64,85,819 |
| Other Income | (18,80,59,827) | (8,16,96,895) | (33,68,00,507) | (21,71,95,024) | (36,62,06,181) |
| Loss (profit) on sale of fixed assets | 8,720 | (4,16,230) | 53,829 | (4,63,777) | (8,73,015) |
| Increase (decrease)in provision for contingencies | - | - | - | 3,33,00,000 | (6,66,00,000) |
| Increase (decrease) in provision for e-inventing the Company | - | 3,50,00,000 | (39,00,977) | 3,50,00,000 | 39,00,977 |
| Depreciation, depletion and amortization | 24,23,67,547 | 10,72,23,769 | 41,97,39,264 | 20,04,41,918 | 53,23,27,389 |
| Decrease (increase) in sundry debtors | (14,65,76,914) | (26,71,34,722) | (106,87,87,493) | (48,95,21,379) | (51,65,92,828) |
| Decrease (increase) in loans and advances | (5,07,48,178) | (8,30,09,030) | (13,17,94,697) | (17,73,97,884) | (41,49,70,588) |
| Increase (decrease) in current liabilities and provisions | 34,84,56,392 | 4,17,59,020 | 76,19,16,176 | 17,70,67,854 | 42,26,37,450 |
| Income taxes paid | (23,58,99,316) | (10,92,26,480) | (32,25,31,791) | (13,84,37,481) | (35,53,53,877) |
| Net cash from operations | 68,71,71,003 | 39,45,82,235 | 238,56,35,132 | 86,09,58,868 | 249,47,55,146 |
| Cash flows from financing | |||||
| Proceeds from conversion of options | - | - | 10,01,506 | - | 1,76,25,277 |
| Expenses relating to issue of American Depositary Shares | - | (3,26,400) | - | (2,05,30,090) | (2,35,06,514) |
| Expenses relating to issue of ADS linked stock options | - | - | - | - | (1,01,93,113) |
| Dividends paid (including dividend tax) | - | - | (22,02,44,213) | (8,91,36,007) | (19,92,57,109) |
| Net cash used for financing | - | (3,26,400) | (21,92,42,707) | (10,96,66,097) | (21,53,31,459) |
| Cash flows from investing | |||||
| Income from investments | 9,12,38,406 | 6,52,40,572 | 16,58,03,106 | 11,94,36,323 | 26,68,79,106 |
| Proceeds of sale of fixed assets | 1,87,023 | 4,20,448 | 2,37,761 | 5,71,709 | 10,20,400 |
| Purchase of fixed assets | (114,01,44,667) | (38,55,70,016) | (199,85,14,640) | (59,76,16,481) | (159,87,03,617) |
| Other long-term investments | (9,56,09,608) | - | (22,96,18,268) | - | (13,08,00,000) |
| Net cash used for investing | (114,43,28,846) | (31,99,08,996) | (206,20,92,041) | (47,76,08,449) | (146,16,04,111) |
| Effect of exchange differences on translation of foreign currency deposit maintained abroad | 9,68,21,421 | 1,64,56,323 | 17,09,97,401 | 9,77,58,701 | 9,93,27,075 |
| Total increase (decrease) in cash and cash equivalents during the period | 63,96,63,578 | 9,08,03,162 | 27,52,97,785 | 37,14,43,023 | 91,71,46,651 |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 471,93,71,802 | 444,72,30,805 | 508,37,37,595 | 416,65,90,944 | 416,65,90,944 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 535,90,35,380 | 453,80,33,967 | 535,90,35,380 | 453,80,33,967 | 508,37,37,595 |
Note: During the half year ended September 30, 2000, the Company transferred intellectual property rights in Onscan - a web focussed wireless-enabled notification product, to Onscan Inc., USA, a company incubated by Infosys as part of its ongoing effort to encourage and promote entrepreneurs amongst its employees. The product was transferred for a gross consideration of Rs. 8.93 crore (US$ 2 million) received as equity, preferred voting and preferred non-voting securities in Onscan Inc. and accordingly, is not considered in this statement of cash flows.
This is the Cash Flow Statement referred to in our report of even date.
| for Bharat S Raut & Co. Chartered Accountants |
||||
| Balaji Swaminathan Partner |
N. R. Narayana Murthy Chairman and Chief Executive Officer |
Nandan M. Nilekani Managing Director, President and Chief Operating Officer |
Deepak M. Satwalekar Director |
|
| Prof. Marti G. Subrahmanyam Director |
S. Gopalakrishnan Deputy Managing Director |
K. Dinesh Director |
S. D. Shibulal Director |
|
| Place: Bangalore Date: October 10, 2000 |
T. V. Mohandas Pai Director and Chief Financial Officer |
Phaneesh Murthy Director |
Srinath Batni Director |
V. Viswanathan Company Secretary |
