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Infosys Technologies Limited

Profit and Loss Account for the
in Rs
Schedule Quarter ended Year ended
March 31, 2000
June 30, 2000 June 30, 1999
INCOME 13,149 9,028 6,859.66 4,760.89
Software development services and products
Overseas 351,05,78,423 168,62,11,001 869,69,80,931
Domestic 4,47,21,726 1,64,95,994 12,62,56,042
Other income 10 15,11,07,532 13,79,13,245 39,14,11,095
370,64,07,681 184,06,20,240 921,46,48,068
EXPENDITURE
Software development expenses 11 189,39,05,266 89,18,81,292 466,26,84,578
Administration and other expenses 12 28,50,11,949 13,61,38,961 69,48,50,282
Provision for contingencies - 3,33,00,000 3,33,00,000
Provision for e-inventing the Company - - 3,50,00,000
217,89,17,215 106,13,20,253 542,58,34,860
Operating profit (PBIDT) 152,74,90,466 77,92,99,987 378,88,13,208
Interest - - -
Depreciation 17,73,71,717 9,32,18,149 53,23,27,389
Profit before tax 135,01,18,749 68,60,81,838 325,64,85,819
Provision for tax - earlier years 1,40,00,000 - 24,00,000
- current period 12,31,00,000 8,00,00,000 39,46,00,000
Profit after tax before extraordinary items 121,30,18,749 60,60,81,838 285,94,85,819
Extraordinary item - transfer of intellectual property right (net of tax) 5,49,44,000 - -
- provision no longer required - - 7,56,70,846
Net profit after tax and extraordinary item 126,79,62,749 60,60,81,838 293,51,56,665
AMOUNT AVAILABLE FOR APPROPRIATION 126,79,62,749 60,60,81,838 293,51,56,665
Dividend
Interim - - 9,92,08,200
Final (proposed) - - 19,84,18,210
Dividend Tax - - 3,27,38,905
Amount transferred - general reserve - - 260,47,91,350
Balance in Profit and Loss Account 126,79,62,749 60,60,81,838 -
126,79,62,749 60,60,81,838 293,51,56,665
SIGNIFICANT ACCOUNTING POLICIES AND
NOTES ON ACCOUNTS
13

The Schedules referred to above and the notes thereon form an integral part of the Profit and Loss Account. This is the Profit & Loss Account 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
Marti G. Subrahmanyam
Director
S. Gopalakrishnan
Deputy Managing Director
K. Dinesh
Director
S. D. Shibulal
Director
T. V. Mohandas Pai
Director and
Chief Financial Officer
Phaneesh Murthy
Director
Srinath Batni
Director
Place : Bangalore
Date : July 11, 2000
V. Vishwanathan
Company Secretary

Infosys Technologies Limited

Schedules to the Profit and Loss Account for the
in Rs
Quarter ended Year ended
March 31, 2000
June 30, 2000 June 30, 1999
10 OTHER INCOME
Interest received on deposits with banks and others
(Tax deducted at source Rs. 69,02,206, Rs. 14,86,424, Rs. 1,67,51,195 respectively)
7,45,64,700 5,57,81,765 26,68,79,106
Sale of special import licenses - - 2,02,31,549
Profit on sale of assets - 47,547 8,73,015
Miscellaneous income 23,66,852 7,81,555 41,00,350
Exchange differences * 7,41,75,980 8,13,02,378 9,93,27,075
15,11,07,532 13,79,13,245 39,14,11,095
*arising on translation of foreign currency deposits maintained abroad
11 SOFTWARE DEVELOPMENT EXPENSES
Salaries and bonus including overseas staff expenses 131,59,03,108 58,72,39,063 307,54,46,295
Staff welfare 1,51,05,488 96,00,224 4,93,07,308
Contribution to provident and other funds 9,49,72,021 2,05,62,775 22,08,36,923
Foreign travel expenses 30,21,47,079 17,91,35,095 84,09,02,293
Consumables 90,94,196 58,68,491 2,70,06,251
Cost of software packages
for own use 7,54,06,306 3,27,92,026 16,53,57,382
for software development 83,50,829 16,12,057 2,84,48,397
Provision for post-sales client support (1,80,160) 66,72,756 2,09,62,627
Computer maintenance 1,48,09,400 39,33,051 3,27,43,350
Communication expenses 4,70,05,737 3,83,31,714 17,31,23,718
Consultancy charges 1,12,91,262 61,34,040 2,85,50,034
189,39,05,266 89,18,81,292 466,26,84,578
12 ADMINISTRATION AND OTHER EXPENSES
Travelling and conveyance 2,72,52,199 1,07,78,342 7,68,26,394
Rent 3,26,94,228 2,05,30,401 10,34,93,593
Telephone charges 2,91,31,034 1,38,05,537 5,93,95,252
Legal and professional charges 2,55,65,071 1,25,27,056 7,55,68,079
Printing and stationery 2,50,66,901 82,91,883 2,76,70,902
Advertisements 1,13,04,298 43,68,253 2,12,41,343
Brand building 1,09,58,146 - 99,17,816
Office maintenance 2,73,12,516 84,08,885 5,81,01,381
Repairs to building 82,54,771 26,16,995 1,13,44,232
Repairs to plant and machinery 33,86,262 14,09,481 84,12,905
Power and fuel 2,06,50,482 1,00,17,440 5,01,41,466
Insurance charges 52,89,398 40,57,836 2,41,35,289
Rates and taxes 35,64,331 20,18,759 1,03,80,848
Donations 1,58,07,369 40,00,000 3,49,27,871
Auditor's remuneration - audit fees 4,46,250 4,25,000 17,85,000
- certification charges - - 2,00,000
- other services - - 4,50,000
- out-of-pocket expenses 50,000 50,000 2,00,000
Bad loans and advances written off - - 3,13,050
Bad debts written off - - 1,59,20,938
Provision for bad and doubtful debts 40,87,456 1,20,19,784 94,03,099
Provision for doubtful loans and advances (1,412) - -
Bank charges and commission 5,30,303 9,54,847 42,21,668
Commission charges 22,64,589 34,84,800 64,70,454
Other miscellaneous expenses 1,48,35,302 37,29,270 2,10,64,341
Marketing expenses 53,30,276 76,59,732 3,14,93,837
Postage and courier 48,77,958 36,69,936 1,37,56,638
Books and periodicals 38,54,221 13,14,724 77,13,886
Research grants 25,00,000 - 1,03,00,000
28,50,11,949 13,61,38,961 69,48,50,282

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