Investors
Financials
Cash Flow Statement
| Consolidated Statements of Cash Flows for the years ended March 31, (Dollars in millions) | 2008 | 2007 |
| Operating Activities: | ||
| Net Income | $1,155 | $850 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 157 | 118 |
| Minority interest | - | 2 |
| Stock compensation expenses | 3 | 5 |
| Deferred taxes | (50) | (6) |
| Gain on sale of liquid mutual fund units | - | (2) |
| Gain on sale of long term investments | - | (1) |
| Income tax benefit arising on exercise of stock options | - | - |
| Changes in assets and liabilities | ||
| Trade accounts receivable | (207) | (184) |
| Prepaid expenses and other current assets | (47) | (4) |
| Unbilled revenue | (40) | (24) |
| Accounts payable | 6 | 3 |
| Income taxes | 78 | (15) |
| Client deposits | - | (1) |
| Unearned revenue | (6) | 26 |
| Other accrued liabilities | 100 | 95 |
| Net cash provided by operating activities | 1,149 | 862 |
| Investing Activities: | ||
| Payment for acquisition of business, net of cash acquired | (26) | - |
| Expenditure on property, plant and equipment | (374) | (336) |
| Payment towards intellectual property right | - | (3) |
| Loans to employees | 1 | 1 |
| Non-current deposits placed with corporations | (7) | (14) |
| Withdrawal of non-current deposits placed with corporations | - | 2 |
| Acquisition of minority interest in subsidiary | (6) | (148) |
| Investment in liquid mutual fund units | (511) | (1,002) |
| Redemption of liquid mutual fund units | 500 | 1,163 |
| Proceeds from sale of long term investments | - | 1 |
| Proceeds from issuance of equity shares by subsidiary | - | 2 |
| Net cash used in investing activities | (423) | (334) |
| FINANCING ACTIVITIES: | ||
| Proceeds from issuance of common stock on exercise of employee stock options | 17 | 277 |
| Payment of dividends | (209) | (336) |
| Income tax benefit arising on exercise of stock options | 6 | 4 |
| Net cash provided by / (used in) financing activities | (186) | (55) |
| Effect of exchange rate changes on cash | 115 | 41 |
| Net increase/ (decrease) in cash and cash equivalents during the year | 540 | 514 |
| Cash and cash equivalents at the beginning of the year | 1,403 | 889 |
| Cash and cash equivalents at the end of the year | $2,058 | $1,403 |
| Supplementary information: | ||
| Income taxes paid | $137 | $99 |
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