Infosys assets at Rs 12,030 cr in Q1

Mumbai, July 10 (PTI) India's second largest software
services exporter Infosys Technologies Friday said its cash
and cash-equivalent stood at Rs 12,030 crore at the end of the
first quarter ended June 30, 2009, an increase of 62.33 per
cent over the corresponding period a year ago.

"Cash and cash-equivalents, including investments in
liquid mutual funds and certificate of deposits, as on June
30, 2009 (were) Rs 12,030 crore, against Rs 7,411 crore as on
June 30, 2008," a company statement said.

Commenting on the liquidity and capital expenditure plans
of the company, Infosys Chief Financial Officer V Balakrishnan
said: "The global currency markets continue to be volatile.
During the quarter, the rupee appreciated against the US
dollar."

"We continue to focus on margins while making the right
investments to accelerate growth," Balakrishnan added.

Besides, the software firm is comfortably placed in terms
of current assets for the June quarter at Rs 13,271 crore, up
4 per cent form the previous quarter.

At the end of the fourth quarter of the last fiscal, the
company's consolidated current assets were at Rs 12,774 crore.

Current assets are used to fund day-to-day operations and
pay ongoing expenses. It represents the sum of cash and cash-
equivalents, inventory and other assets that could be
converted to cash in a short span of time.

Infosys today reported a 17.28 per cent increase in its
first quarter net profit, but forecast a decline in its
revenue during the current fiscal as many of its clients have
been hit by the global financial crisis.

"We believe that in the short term the global economic
environment will continue to be challenging. We are working
closely with our clients to help them navigate the downturn,"
Infosys CEO and MD S Gopalakrishnan said.

The IT exporter's net profit after tax stood at Rs 1,527
crore in the quarter ended June 30, 2009. The revenue rose 13
per cent to Rs 5,472 crore on year-on-year basis. PTI JD
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