Financial information presented in substantial compliance with Australian Accounting Standards Board (AASB)

Consolidated Balance Sheets (unaudited) as of March 31,

Australian Dollar (AUD) in million

	2011	2010
Assets
Cash and cash equivalents	3,615	2,943
Available-for-sale financial assets	5	612
Investments in certificates of deposit	26	289
Trade receivables	1,009	849
Unbilled revenue	270	204
Derivative financial instruments	15	23
Prepayments and other assets	199	156
Total current assets	5,139	5,076
Property, plant and equipment	1,050	1,079
Intangible assets	190	213
Available-for-sale financial assets	5	9
Deferred tax assets	82	85
Income tax assets	216	161
Other non-current assets	99	84
Total non-current assets	1,642	1,631
Total assets	6,781	6,707
Liabilities
Trade payables	10	2
Derivative financial instruments	–	–
Current tax payable	177	176
Client deposits	5	2
Unearned revenue	112	129
Employee benefits	30	32
Provisions	19	20
Other current liabilities	436	415
Total current liabilities	789	776
Deferred tax liabilities	–	28
Employee benefits	56	41
Other non-current liabilities	14	14
Total non-current liabilities	70	83
Total liabilities	859	859
Net assets	5,922	5,848
Equity
Share capital – 600,000,000 equity shares authorized, issued and outstanding 571,317,959 and 570,991,592 as at March 31, 2011 and March 31, 2010, respectively (including share premium)	844	836
Retained earnings	6,619	5,030
Other components of equity	(1,541)	(18)
Total equity attributable to equity holders of the Company	5,922	5,848

Consolidated statements of comprehensive income (unaudited) for the years ended March 31,

Australian dollar (AUD) in million, except share data

	2011	2010
Revenues	6,405	5,654
Cost of sales	3,708	3,235
Gross profit	2,697	2,419
Operating expenses
Selling and marketing expenses	352	295
Administrative expenses	459	405
Operating profit	1,886	1,719
Other income, net	283	246
Profit before income tax	2,169	1,965
Income tax expense	580	419
Net Profit	1,589	1,546
Other Comprehensive income
Reversal of impairment loss on available-for-sale financial asset	–	2
Gain transferred to net profit on sale of available-for-sale financial asset	–	(1)
Fair value changes on available-for-sale financial asset, net of tax effect	(2)	7
Exchange differences on translating foreign operations	76	793
Total other comprehensive income	74	801
Total comprehensive income for the year	1,663	2,347
Profit attributable to :
Owners of the company	1,589	1,546
Non-controlling interest	–	–
Profit for the year	1,589	1,546
Total comprehensive income attributable to:
Owners of the company	1,663	2,347
Non- controlling interest	–	–
Total comprehensive income for the year	1,663	2,347
Earnings per equity share
Basic (AUD)	2.78	2.71
Diluted (AUD)	2.78	2.71
Weighted average number of shares used in computing earnings per equity share
Basic	571,180,050	570,475,923
Diluted	571,368,358	571,116,031

Notes :1.

The functional currency of the Company is the Indian Rupee. These financial statements have been presented by translating revenue and expenditure at an average rate during the year; assets, liabilities, property, plant and equipment, long-term borrowings at the year-end rate; and accretions to stockholders’ equity at an average rate for the year. The difference arising on translation is shown under other components of equity.

Exchange rates (1 AUD =)

	2011	2010
Average rate	42.95	40.30
Period end rate	46.11	41.16

The financial information provided in this section is unaudited. Financial information presented in substantial compliance with the GAAP requirements of countries and IFRS may not meet all the regulatory requirements to be characterized as financial statements presented in explicit and unreserved compliance with such requirements. The statements on compliance or substantial compliance with corporate governance standards of various countries may not meet all the relevant regulatory requirements to be characterized as statements of explicit and unreserved compliance with corporate governance requirements. The financial information provided in this section does not contain sufficient information to allow full understanding of our results or our state of affairs. In the event of a conflict in interpretation, the ‘Audited Indian GAAP financial statements’ section and the ‘Corporate governance report’ section of the Annual Report should be considered. We caution investors that these reports are provided only as additional information to our global investors. Using such reports for predicting our future, or of any other company, is risky. We are not responsible for any direct, indirect or consequential losses suffered by any person using these corporate governance reports, financial statements or data.