Infosys cash pile at Rs15,857 cr on March-end

Infosys cash pile at Rs15,857 cr on March-end

Mumbai: Software outsourcing major Infosys Technologies said on 13 April its cash and cash equivalents stood at Rs15,857 crore at the end of fourth quarter, up 44.24% over the corresponding period a year-ago.

At the end of 31 March 2010, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits was Rs15,857 crore compared to Rs10,993 crore as on 31 March 2009, the IT bellwether said in a statement.

Commenting on the liquidity and capital expenditure plans of the company, Infosys chief financial officer V Balakrishnan said: “The currency volatility continues to be a concern for the industry. We, however, have an active hedging program to minimize its impact on our margins."

Current assets are used to fund day-to-day operations and pay ongoing expenses. It represents the sum of cash and cash- equivalents, inventory and other assets that could be converted to cash in a short span of time.

“We maintained our margins in one of the toughest years for the industry while our cash and cash equivalents reached $3.5 billion," Balakrishnan added.

The country’s second largest software exporter today reported a 0.25% rise in consolidated net profit at Rs1,617 crore for the quarter ended 31 March.

For the financial year 2009-10, it reported a 4.64% growth in net profit at Rs6,266 crore.