Financials & Filings

Indian GAAP | US GAAP

Statements of Cash Flows (Expressed in United States dollars except share data)

Quarter endedYear ended
June 30, 2000June 30, 1999March 31, 2000
(unaudited)(unaudited)(audited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income26,831,67313,310,87961,344,528
Adjustments to reconcile net income to net cash provided by operating activities
Loss (gain) on sale of property, plant and equipment1,019(1,110)(20,153)
Depreciation3,999,6622,173,42512,268,169
Deferred tax benefit(118,795)336,126(850,891)
Amortization of stock compensation expense1,275,7961,250,1005,117,635
Changes in assets and liabilities
Trade accounts receivable(19,931,177)(4,575,880)(11,176,837)
Prepaid expenses and other current assets(474,461)(903,176)(2,390,039)
Income taxes1,086,7691,145,409923,180
Accounts payable(504,367)(19,749)901,535
Client deposits(93,666);(2,835)407,204
Unearned revenue10,365,210603,147(569,439)
Other accrued liabilities(1,879,605)122,3035,435,835
Net cash provided by operating activities20,558,05813,438,63971,390,727
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from issuance of equity shares22,617-406,862
ADR issue expenses-(471,498)(777,923)
Payment of cash dividends(4,731,969)-(2,526,872)
Net cash used in financing activities(4,709,352)(471,498)(2,897,933)
Effect of exchange rate changes on cash(4,627,274)(3,952,172)(5,037,271)
Net increase in cash and cash equivalents during the year(10,842,729);3,737,65417,724,523
Cash and cash equivalents at the beginning of the year116,599,48698,874,96398,874,963
Cash and cash equivalents at the end of the year105,756,757102,612,617116,599,486
Supplementary information:
Cash paid towards taxes1,890,0631,060,8937,270,137