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Reports & Filings

Infosys Technologies Limited

in Rs
Profit and Loss Account for the Schedule Quarter ended Half Year ended Year ended
March 31, 2000
Sep 30,2000 Sep 30,1999 Sep 30,2000 Sep 30,1999
INCOME
Software development services and products
Overseas 441,25,85,913 205,07,22,424 792,31,64,336 373,69,33,425 869,69,80,931
Domestic 4,83,71,864 3,22,64,605 9,30,93,590 4,87,60,599 12,62,56,042
Other income 10 19,57,87,617 9,58,18,435 34,68,95,149 23,37,31,680 39,14,11,095
465,67,45,394 217,88,05,464 836,31,53,075 401,94,25,704 921,46,48,068
EXPENDITURE
Software development expenses 11 226,44,95,150 113,07,67,428 415,84,00,416 202,26,48,720 466,26,84,578
Administration and other expenses 12 43,22,60,118 15,37,31,464 71,72,72,067 28,98,70,425 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 - 3,50,00,000 3,50,00,000
269,67,55,268 131,94,98,892 487,56,72,483 238,08,19,145 542,58,34,860
Operating profit (PBIDT) 195,99,90,126 85,93,06,572 348,74,80,592 163,86,06,559 378,88,13,208
Interest - - - - -
Depreciation 24,23,67,547 10,72,23,769 41,97,39,264 20,04,41,918 53,23,27,389
Profit before tax 171,76,22,579 75,20,82,803 306,77,41,328 143,81,64,641 325,64,85,819
Provision for tax - earlier years - 17,00,000 1,40,00,000 17,00,000 24,00,000
- current period 17,75,00,000 9,33,00,000 30,06,00,000 17,33,00,000 39,46,00,000
Profit after tax before extraordinary items 154,01,22,579 65,70,82,803 275,31,41,328 126,31,64,641 285,94,85,819
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 item 154,01,22,579 65,70,82,803 280,80,85,328 126,31,64,641 293,51,56,665
AMOUNT AVAILABLE FOR APPROPRIATION 154,01,22,579 65,70,82,803 280,80,85,328 126,31,64,641 293,51,56,665
Dividend
Interim 16,53,78,418 9,92,08,200 16,53,78,418 9,92,08,200 9,92,08,200
Final (proposed) - - - - 19,84,18,210
Dividend Tax 3,63,83,252 1,09,12,902 3,63,83,252 1,09,12,902 3,27,38,905
Amount transferred - general reserve - - - - 260,47,91,350
Balance in Profit and Loss Account 133,83,60,909 54,69,61,701 260,63,23,658 115,30,43,539 -
154,01,22,579 65,70,82,803 280,80,85,328 126,31,64,641 293,51,56,665
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 Half Year ended Year ended
March 31, 2000
Sep 30,2000 Sep 30,1999 Sep 30,2000 Sep 30,1999
10 OTHER INCOME
Interest received on deposits with banks and others 9,12,38,406 6,52,40,572 16,58,03,106 11,94,36,323 26,68,79,106
(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 licenses 6,77,431 1,29,96,393 6,77,431 1,29,96,393 2,02,31,549
Profit on sale of assets - 4,16,230 - 4,63,777 8,73,015
Miscellaneous income 70,50,359 7,08,917 94,17,211 30,76,486 41,00,350
Exchange differences * 9,68,21,421 1,64,56,323 17,09,97,401 9,77,58,701 9,93,27,075
19,57,87,617 9,58,18,435 34,68,95,149 23,37,31,680 39,14,11,095
* 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 expenses 158,42,78,274 73,71,21,957 290,01,81,382 132,43,61,020 307,54,46,295
Staff welfare 1,73,06,377 1,01,02,147 3,24,11,865 1,97,02,371 4,93,07,308
Contribution to provident and other funds 7,43,79,574 4,04,04,539 16,93,51,595 6,09,67,314 22,08,36,923
Foreign travel expenses 35,90,06,400 19,44,34,563 66,11,53,479 37,35,69,658 84,09,02,293
Consumables 1,04,12,879 47,39,041 1,95,07,075 1,06,07,532 2,70,06,251
Cost of software packages
for own use 12,25,78,520 6,00,62,634 19,79,84,826 9,28,54,660 16,53,57,382
for banking product 49,60,448 24,53,002 1,33,11,277 40,65,059 2,84,48,397
Computer maintenance 1,23,01,888 61,45,308 2,71,11,288 1,00,78,359 3,27,43,350
Communication expenses 5,24,77,651 5,64,28,375 9,94,83,388 9,47,60,089 17,31,23,718
Consultancy charges 1,85,64,421 79,52,464 2,98,55,683 1,40,86,504 2,85,50,034
Provision for post-sales client support 82,28,718 1,09,23,398 80,48,558 1,75,96,154 2,09,62,627
226,44,95,150 113,07,67,428 415,84,00,416 202,26,48,720 466,26,84,578
12 ADMINISTRATION AND OTHER EXPENSES
Travelling and conveyance 4,97,87,265 1,64,00,037 7,70,39,464 2,71,78,379 7,68,26,394
Rent 3,68,42,809 2,37,09,030 6,95,37,037 4,42,39,431 10,34,93,593
Telephone charges 3,59,58,729 1,07,93,680 6,50,89,763 2,45,99,217 5,93,95,252
Professional charges 3,86,42,679 1,69,66,773 6,42,07,750 2,94,93,829 7,55,68,079
Office maintenance 2,94,09,238 97,79,872 5,67,21,754 1,81,88,757 5,81,01,381
Brand building 3,92,19,123 - 5,01,77,269 - 99,17,816
Provision for bad and doubtful debts 4,51,07,005 70,23,453 4,91,94,461 1,90,43,237 94,03,099
Power and fuel 2,51,75,524 1,00,90,670 4,58,26,006 2,01,08,110 5,01,41,466
Printing and stationery 1,10,57,396 70,99,944 3,61,24,297 1,53,91,827 2,76,70,902
Donations 1,70,01,694 1,01,86,367 3,28,09,063 1,41,86,367 3,49,27,871
Advertisements 1,75,71,241 68,68,674 2,88,75,539 1,12,36,927 2,12,41,343
Marketing expenses 1,75,21,259 53,93,530 2,28,51,535 1,30,53,262 3,14,93,837
Repairs to building 58,28,166 13,87,841 1,40,82,937 40,04,836 1,13,44,232
Insurance charges 72,76,793 49,72,795 1,25,66,191 90,30,631 2,41,35,289
Rates and taxes 62,78,668 37,24,887 98,42,999 57,43,646 1,03,80,848
Postage and courier 47,28,893 25,29,800 96,06,851 61,99,736 1,37,56,638
Commission Charges 67,61,132 - 90,25,721 34,84,800 64,70,454
Books and periodicals 50,60,324 8,34,026 89,14,545 21,48,750 77,13,886
Repairs to plant and machinery 39,97,679 27,39,781 73,83,941 41,49,262 84,12,905
Research Grants 25,00,000 25,00,000 50,00,000 25,00,000 1,03,00,000
Managerial remuneration 24,00,000 6,00,000 48,00,000 12,00,000 48,17,800
Bad debts written off 27,70,254 - 27,70,254 - 1,59,20,938
Bank charges and commission 3,94,040 8,08,085 9,24,343 17,62,932 42,21,668
Bad loans and advances written off - 3,46,577 - 3,46,577 3,13,050
Auditor's remuneration - audit fees 4,47,000 4,67,500 8,93,250 8,92,500 17,85,000
- certification charges - - - - 2,00,000
- other services - - - - 4,50,000
- out-of-pocket expenses 50,000 50,000 1,00,000 1,00,000 2,00,000
Other miscellaneous expenses 2,04,73,207 84,58,142 3,29,07,097 1,15,87,412 1,62,46,541
43,22,60,118 15,37,31,464 71,72,72,067 28,98,70,425 69,48,50,282

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