Infosys’ ‘other income’ zooms nearly five times
By IANSTuesday, January 12, 2010
MYSORE - IT bellwether Infosys Technologies Tuesday reported a record jump of 478 percent in “other income” to Rs.231 crore (Rs.2.31 billion/$51 million) in third quarter this fiscal from Rs.40 crore in the same period a year ago.
As a result, the global software major’s cash reserves, including investments in liquid mutual funds, has increased to Rs.14,449 crore in the quarter under review (Q3) from Rs.9,488 crore in the same quarter a year ago (FY 2008-09).
We maintained our margins and cash reserves reached $3.1 billion, as rupee appreciated by 3.7 percent during the quarter, Infosys chief financial officer V. Balakrishnan said in a statement here.
The company’s cash reserves at the end of the second quarter (July-September) this fiscal was Rs.13,796 crore.
Similarly, for the first nine months (April-December) of this fiscal, other income grew by 230 percent to Rs.738 crore from Rs.221 crore in the same period a year ago.
