Financials & Filings

Indian GAAP | US GAAP

Statement of cash flows

in Rs.
Quarter ended Year ended
June 30, 2000 June 30, 1999 March 31, 2000
Cash flows from operations
Profit before tax 135,01,18,74968,60,81,838325,64,85,819
Other Income(14,87,40,680) (13,71,31,690) (36,70,79,196)
Loss on sale of fixed assets45,109 --
Increase (decrease) in provision for contingencies - 3,33,00,000(6,66,00,000)
Increase (decrease) in provision for e-inventing the company (39,00,977) -39,00,977
Depreciation, depletion and amortization17,73,71,717 9,32,18,14953,23,27,389
Decrease (increase) in sundry debtors(92,22,10,579) (22,23,86,657)(51,65,92,828)
Decrease (increase) in loans and advances(8,10,46,519) (9,43,88,854)(41,49,70,588)
Increase (decrease) in current liabilities and provisions41,34,59,784 13,53,08,83442,26,37,450
Income taxes paid(8,66,32,475) (2,92,11,001)(35,53,53,877)
Net cash from operations69,84,64,1296,47,90,619249,47,55,146
Cash flows from financing
Proceeds from conversion of options10,01,506-1,76,25,277
Expenses relating to issue of American Depositary Shares-(2,02,03,690)(2,35,06,514)
Expenses relating to issue of ADS linked stock options--(1,01,93,113)
Dividends paid (including dividend tax)(22,02,44,213)(8,91,36,007)(19,92,57,109)
Net cash from (used for) financing(21,92,42,707)(10,93,39,697)21,53,31,459)
Cash flows from investing
Income from investments7,45,64,7005,57,81,76526,68,79,106
Proceeds of sale of fixed assets50,7381,51,26110,20,400
Purchase of fixed assets (85,83,69,973)(21,20,46,465)(159,87,03,617)
Other long-term investments(13,40,08,660)-(13,08,00,000)
Net cash used for investing(91,77,63,195)(15,61,13,439)(146,16,04,111)
Effect of exchange differences on translation of foreign currency deposits maintained abroad7,41,75,9808,13,02,3789,93,27,075
Total increase (decrease) in cash and cash equivalents during the period(36,43,65,793)28,06,39,86191,71,46,651
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD508,37,37,595416,65,90,944416,65,90,944
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 471,93,71,802444,72,30,805508,37,37,595

Notes:

During the quarter ended June 30, 2000, the company transferred intellectual property rights in Onscan - a web focussed wireless-enabled notification product, to Onscan Inc., a company incubated by Infosys as part of its ongoing effort to encourage and promote entrepreneurs amongst its employees. The product was transferred for a gross consideration of Rs. 8.93 crore (US$ 2 million) received as equity, preferred voting and preferred non-voting securities in Onscan Inc. and accordingly, is not considered in this statement of cash flows.

This is the Cash Flow Statement 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. Viswanathan
Company Secretary
Bangalore, India
July 11, 2000
By order of the Board for Infosys Technologies Ltd.
N.R.Narayana Murthy Chairman and Chief Executive Officer

Statement of cash flows for the period ended June 30, Reconciliation of items in financial statements with cash flow items.

in Rs.
Quarter ended Year ended
June 30, 2000 June 30, 1999 March 31, 2000
1.Loans and advances
As per Balance sheet196,24,84,174123,67,02,392210,12,77,161
Less: Deposits with financial institutions/body
corporate, included in cash equivalents
(45,93,29,884) (54,72,92,064) (76,58,01,865)
Advance income taxes considered separately(63,07,28,828)(21,86,13,119)(54,40,96,353)
Balance considered for preparing the cash flow statement87,24,25,46247,07,97,20979,13,78,943
2.Additions to fixed assets
As per Balance sheet 89,75,14,69421,87,20,827117,79,35,912
Add: Closing capital work-in-progress53,04,58,78414,21,61,43856,96,03,505
Less: Opening capital work-in-progress(56,96,03,505)(14,88,35,800)(14,88,35,800)
Balance considered for preparing the cash flow statement85,83,69,97321,20,46,465159,87,03,617
3.Cash and cash equivalents
As per Balance sheet426,00,41,918389,99,38,741431,79,35,730
Add: Deposits with financial institutions/body corporate (as per 1 above)45,93,29,88454,72,92,06476,58,01,865
Balance considered for preparing the cash flow statement471,93,71,802444,72,30,805508,37,37,595
4.Income taxes paid
As per Profit and Loss account13,71,00,0008,00,00,00039,70,00,000
Add: Provision for tax on sale of intellectual
property right
3,43,96,000--
Decrease(increase) in balance in provision for taxes account(17,14,96,000)(7,83,21,896)(39,46,62,254)
Increase(decrease) in balance in advance income tax accoun8,66,32,4752,75,32,89735,30,16,131
Balance considered for preparing the cash flow statement8,66,32,4752,92,11,00135,53,53,877
5.Other income
As per Profit and Loss account15,11,07,53213,79,13,24539,14,11,095
Less: Income from operating activities(23,66,852)(7,81,555)(2,43,31,899)
Balance considered for preparing the cash flow statement14,87,40,68013,71,31,69036,70,79,196
6.Current liabilities and provisions
As per Balance sheet 202,05,13,013100,74,59,101165,97,02,419
Less: Provision for taxation considered separately(79,75,15,742)(30,96,79,384)(62,60,19,742)
Provision for dividend considered separately --(19,84,18,210)
Provision for dividend tax considered separately--(2,18,26,003)
Provision for contingencies (9,99,00,000)
Provision for e-inventing the company(39,00,977)
Balance considered for preparing the cash flow statement122,29,97,27159,78,79,71780,95,37,487

This is the Cash Flow Statement 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. Viswanathan
Company Secretary