Infosys Technologies Limited and subsidiaries

Consolidated Statements of Cash Flows for the years ended March 31,

(In Rs. crore)
  Note 2010 2009
Operating activities:      
Net profit   6,219 5,975
Adjustments to reconcile net profit to net cash provided by operating activities:      
Depreciation and amortization 2.5 and 2.6 942 767
Share based compensation 2.16 1 7
Income tax expense 2.17 1,681 919
Income on investments   (169) (12)
Profit on sale of property, plant and equipment   (2)
Other non cash item¬†   2
Changes in working capital      
Trade receivables   193 (375)
Prepayments and other assets   (233) 49
Unbilled revenue   (92) (268)
Trade payables   (17) (22)
Client deposits   3 (1)
Unearned revenue   199 45
Other liabilities and provisions   (83) 396
Cash generated from operations   8,644 7,480
Income taxes paid 2.17 (1,754) (902)
Net cash provided by operating activities   6,890 6,578
Investing activities:      
Payment for acquisition of business, net of cash acquired 2.3 (173) (16)
Expenditure on property, plant and equipment 2.5 (674) (1,326)
Proceeds on sale of property, plant and equipment   2
Loans to employees   7 (1)
Non-current deposits placed with corporation   (28) (92)
Income on investments ¬†   106 12
Proceeds from sale of available-for-sale financial asset   53
Investment in certificates of deposit   (1,180) (193)
Redemption of certificates of deposit   193
Investment in available-for-sale financial assets   (9,901) (867)
Redemption of available-for-sale financial assets   7,383 939
Net cash used in investing activities   (4,405) (1,351)
Financing activities:      
Proceeds from issuance of common stock on exercise of employee stock options   89 64
Payment of dividends (including corporate dividend tax)   (1,569) (2,494)
Net cash used in financing activities   (1,480) (2,430)
Effect of exchange rate changes on cash and cash equivalents   63 (39)
Net increase in cash and cash equivalents   1,005 2,797
Cash and cash equivalents at the beginning 2.1 10,993 8,235
Opening balance of cash and cash equivalents of controlled trusts   50
Cash and cash equivalents at the end 2.1 12,111 10,993
Supplementary information:      
Restricted cash balance 2.1 71 2
The accompanying notes form an integral part of the consolidated financial statements