Financials & Filings

Profit and Loss Account

in Rs
ScheduleQuarter endedHalf Year ended Year ended
March 31, 2000
Sep 30,2000Sep 30,1999Sep 30,2000Sep 30,1999
INCOME
Software development services and products
Overseas441,25,85,913205,07,22,424792,31,64,336373,69,33,425869,69,80,931
Domestic4,83,71,8643,22,64,6059,30,93,5904,87,60,59912,62,56,042
Other income 1019,57,87,6179,58,18,43534,68,95,14923,37,31,68039,14,11,095
465,67,45,394217,88,05,464836,31,53,075401,94,25,704921,46,48,068
EXPENDITURE
Software development expenses11226,44,95,150113,07,67,428415,84,00,416202,26,48,720466,26,84,578
Administration and other expenses1243,22,60,11815,37,31,46471,72,72,06728,98,70,42569,48,50,282
Provision for contingencies---3,33,00,0003,33,00,000
Provision for e-inventing the Company-3,50,00,000-3,50,00,0003,50,00,000
269,67,55,268131,94,98,892487,56,72,483238,08,19,145542,58,34,860
Operating profit (PBIDT)195,99,90,12685,93,06,572348,74,80,592163,86,06,559378,88,13,208
Interest-----
Depreciation24,23,67,54710,72,23,76941,97,39,26420,04,41,91853,23,27,389
Profit before tax 171,76,22,57975,20,82,803306,77,41,328143,81,64,641325,64,85,819
Provision for tax - earlier years-17,00,0001,40,00,00017,00,00024,00,000
- current period17,75,00,0009,33,00,00030,06,00,00017,33,00,00039,46,00,000
Profit after tax before extraordinary items 154,01,22,57965,70,82,803275,31,41,328126,31,64,641285,94,85,819
Extraordinary item - transfer of intellectual property right (net of tax)----7,56,70,846
- provision no longer required--5,49,44,000--
Net profit after tax and extraordinary item154,01,22,57965,70,82,803280,80,85,328126,31,64,641293,51,56,665
AMOUNT AVAILABLE FOR APPROPRIATION154,01,22,57965,70,82,803280,80,85,328126,31,64,641293,51,56,665
Dividend
Interim16,53,78,4189,92,08,20016,53,78,4189,92,08,2009,92,08,200
Final (proposed)----19,84,18,210
Dividend Tax3,63,83,2521,09,12,9023,63,83,2521,09,12,9023,27,38,905
Amount transferred - general reserve----260,47,91,350
Balance in Profit and Loss Account133,83,60,90954,69,61,701260,63,23,658115,30,43,539-
154,01,22,57965,70,82,803280,80,85,328126,31,64,641293,51,56,665
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

Schedules to the Profit and Loss Account for the

in Rs
Quarter endedHalf Year ended Year ended
March 31, 2000
Sep 30,2000Sep 30,1999Sep 30,2000Sep 30,1999
10 OTHER INCOME
Interest received on deposits with banks and others9,12,38,4066,52,40,57216,58,03,10611,94,36,32326,68,79,106
(Tax deducted at source Rs. 42,26,973; Rs. 37,61,871;
Rs. 1,11,29,180; Rs. 52,48,295; Rs. 1,67,51,195 respectively)
Sale of special import licenses6,77,4311,29,96,3936,77,4311,29,96,3932,02,31,549
Profit on sale of assets-4,16,230-4,63,7778,73,015
Miscellaneous income70,50,3597,08,91794,17,21130,76,48641,00,350
Exchange differences *9,68,21,4211,64,56,32317,09,97,4019,77,58,7019,93,27,075
19,57,87,6179,58,18,43534,68,95,14923,37,31,68039,14,11,095
* arising on translation of foreign currency deposits maintained abroad includes a realised gain of Rs. 3,53,92,000 during the quarter ended September 30, 2000. (Prior periods/ year: Rs. Nil)
11 SOFTWARE DEVELOPMENT EXPENSES
Salaries and bonus including overseas staff expenses158,42,78,27473,71,21,957290,01,81,382132,43,61,020307,54,46,295
Staff welfare1,73,06,3771,01,02,1473,24,11,8651,97,02,3714,93,07,308
Contribution to provident and other funds7,43,79,5744,04,04,53916,93,51,5956,09,67,31422,08,36,923
Foreign travel expenses35,90,06,40019,44,34,56366,11,53,47937,35,69,65884,09,02,293
Consumables1,04,12,87947,39,0411,95,07,0751,06,07,5322,70,06,251
Cost of software packages
for own use12,25,78,5206,00,62,63419,79,84,8269,28,54,66016,53,57,382
for banking product49,60,44824,53,0021,33,11,27740,65,0592,84,48,397
Computer maintenance1,23,01,88861,45,3082,71,11,2881,00,78,3593,27,43,350
Communication expenses5,24,77,6515,64,28,3759,94,83,3889,47,60,08917,31,23,718
Consultancy charges1,85,64,42179,52,4642,98,55,6831,40,86,5042,85,50,034
Provision for post-sales client support82,28,7181,09,23,39880,48,5581,75,96,1542,09,62,627
226,44,95,150113,07,67,428415,84,00,416202,26,48,720466,26,84,578
12 ADMINISTRATION AND OTHER EXPENSES
Travelling and conveyance4,97,87,2651,64,00,0377,70,39,4642,71,78,3797,68,26,394
Rent3,68,42,8092,37,09,0306,95,37,0374,42,39,43110,34,93,593
Telephone charges3,59,58,7291,07,93,6806,50,89,7632,45,99,2175,93,95,252
Professional charges3,86,42,6791,69,66,7736,42,07,7502,94,93,8297,55,68,079
Office maintenance2,94,09,23897,79,8725,67,21,7541,81,88,7575,81,01,381
Brand building3,92,19,123-5,01,77,269-99,17,816
Provision for bad and doubtful debts4,51,07,00570,23,4534,91,94,4611,90,43,23794,03,099
Power and fuel2,51,75,5241,00,90,6704,58,26,0062,01,08,1105,01,41,466
Printing and stationery1,10,57,39670,99,9443,61,24,2971,53,91,8272,76,70,902
Donations1,70,01,6941,01,86,3673,28,09,0631,41,86,3673,49,27,871
Advertisements1,75,71,24168,68,6742,88,75,5391,12,36,9272,12,41,343
Marketing expenses1,75,21,25953,93,5302,28,51,5351,30,53,2623,14,93,837
Repairs to building58,28,16613,87,8411,40,82,93740,04,8361,13,44,232
Insurance charges72,76,79349,72,7951,25,66,19190,30,6312,41,35,289
Rates and taxes 62,78,66837,24,88798,42,99957,43,6461,03,80,848
Postage and courier47,28,89325,29,80096,06,85161,99,7361,37,56,638
Commission Charges67,61,132-90,25,72134,84,80064,70,454
Books and periodicals50,60,3248,34,02689,14,54521,48,75077,13,886
Repairs to plant and machinery39,97,67927,39,78173,83,94141,49,26284,12,905
Research Grants25,00,00025,00,00050,00,00025,00,0001,03,00,000
Managerial remuneration 24,00,0006,00,00048,00,00012,00,00048,17,800
Bad debts written off27,70,254-27,70,254-1,59,20,938
Bank charges and commission3,94,0408,08,0859,24,34317,62,93242,21,668
Bad loans and advances written off-3,46,577-3,46,5773,13,050
Auditor's remuneration - audit fees4,47,0004,67,5008,93,2508,92,50017,85,000
- certification charges----2,00,000
- other services----4,50,000
- out-of-pocket expenses50,00050,0001,00,0001,00,0002,00,000
Other miscellaneous expenses2,04,73,20784,58,1423,29,07,0971,15,87,4121,62,46,541
43,22,60,11815,37,31,46471,72,72,06728,98,70,42569,48,50,282