Q2 FY 25

Financial
Results
Infosys Limited
CIN : L85110KA1981PLC013115
Regd. Office: Electronics City, Hosur Road, Bengaluru 560 100, India.
Website: www.infosys.com; Email: [email protected]; Telephone: 91 80 2852 0261; Fax: 91 80 2852 0362
Statement of Consolidated Audited Results of Infosys Limited and its subsidiaries for the quarter and half-year ended September 30, 2024
prepared in compliance with the Indian Accounting Standards (Ind-AS)
(in ₹ crore, except per equity share data)
Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
September 30, June 30, September 30, September 30,
Particulars

2024 2024 2023 2024 2023 2024

Audited Audited Audited Audited Audited Audited
Revenue from operations 40,986 39,315 38,994 80,300 76,927 153,670
Other income, net 712 838 632 1,551 1,193 4,711
Total Income 41,698 40,153 39,626 81,851 78,120 158,381
Expenses
Employee benefit expenses 21,564 20,934 20,796 42,498 41,577 82,620
Cost of technical sub-contractors 3,190 3,169 3,074 6,359 6,198 12,232
Travel expenses 458 478 439 936 901 1,759
Cost of software packages and others 3,949 3,455 3,387 7,404 6,106 13,515
Communication expenses 169 147 179 316 361 677
Consultancy and professional charges 451 445 387 895 734 1,726
Depreciation and amortization expenses 1,160 1,149 1,166 2,310 2,339 4,678
Finance cost 108 105 138 214 228 470
Other expenses 1,396 1,250 1,292 2,645 2,546 4,716
Total expenses 32,445 31,132 30,858 63,577 60,990 122,393
Profit before tax 9,253 9,021 8,768 18,274 17,130 35,988
Tax expense:
Current tax 3,146 2,998 2,491 6,144 4,798 8,390
Deferred tax (409) (351) 62 (760) 172 1,350
Profit for the period 6,516 6,374 6,215 12,890 12,160 26,248

Other comprehensive income

Items that will not be reclassified subsequently to profit or loss

Remeasurement of the net defined benefit liability/asset, net 78 20 (64) 98 23 120
Equity instruments through other comprehensive income, net (9) 14 40 5 40 19

Items that will be reclassified subsequently to profit or loss

Fair value changes on derivatives designated as cash flow hedges, net (21) (3) 23 (24) 29 11
Exchange differences on translation of foreign operations 560 (104) 5 456 21 226
Fair value changes on investments, net 86 40 (20) 126 55 144
Total other comprehensive income/(loss), net of tax 694 (33) (16) 661 168 520

Total comprehensive income for the period 7,210 6,341 6,199 13,551 12,328 26,768

Profit attributable to:

Owners of the company 6,506 6,368 6,212 12,874 12,157 26,233
Non-controlling interests 10 6 3 16 3 15
6,516 6,374 6,215 12,890 12,160 26,248

Total comprehensive income attributable to:

Owners of the company 7,190 6,337 6,196 13,527 12,328 26,754
Non-controlling interests 20 4 3 24 - 14
7,210 6,341 6,199 13,551 12,328 26,768

Paid up share capital (par value ₹5/- each, fully paid) 2,072 2,072 2,070 2,072 2,070 2,071
Other equity *# 86,045 86,045 73,338 86,045 73,338 86,045

Earnings per equity share (par value ₹5/- each)**

Basic (in ₹ per share) 15.71 15.38 15.01 31.09 29.38 63.39
Diluted (in ₹ per share) 15.68 15.35 14.99 31.02 29.34 63.29
* Balances for the quarter and half year ended September 30, 2024 and quarter ended June 30, 2024 represent balances as per the audited Balance Sheet as at March 31, 2024 and balances for the quarter
and half year ended September 30, 2023 represent balances as per the audited Balance Sheet as at March 31, 2023 as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015

** EPS is not annualized for the quarter and half year ended September 30, 2024, quarter ended June 30, 2024 and quarter and half year ended September 30, 2023.
#
Excludes non-controlling interest

1. Notes pertaining to the current quarter

a) The audited interim condensed consolidated financial statements for the quarter and half year ended September 30, 2024 have been taken on record by the Board of Directors at its meeting held on
October 17, 2024. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the audited interim condensed
consolidated financial statements. Those interim condensed consolidated financial statements are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of
the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Update on employee stock grants

The Board, on October 17, 2024, based on the recommendations of the Nomination and Remuneration Committee, approved grant of 22,880 RSUs to six eligible employees under the 2015 Stock Incentive
Compensation Plan w.e.f November 1, 2024. The RSUs would vest equally over a period of two to four years and the exercise price will be equal to the par value of the share.

c) Update on acquisition

On July 17, 2024, Infosys Germany GmBH acquired 100% voting interests in in-tech Holding GmbH, leading provider of Engineering R&D services headquartered in Germany, for a consideration of EUR 465
million (₹4,213 crore).
2. Information on dividends for the quarter and half year ended September 30, 2024
The Board of Directors declared an interim dividend of ₹21/- per equity share. The record date for the payment is October 29, 2024.The interim dividend will be paid on November 8, 2024. The interim
dividend declared in the previous year was ₹18/- per equity share.

(in ₹)
Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
Particulars September 30, June 30, September 30, September 30,

2024 2024 2023 2024 2023 2024

Dividend per share (par value ₹5/- each)
Interim dividend 21.00 - 18.00 21.00 18.00 18.00
Final dividend - - - - - 20.00
Special dividend - - - - - 8.00

3. Audited Consolidated Balance Sheet (in ₹ crore)

Particulars As at
September 30, 2024 March 31, 2024
ASSETS
Non-current assets
Property, plant and equipment 11,780 12,370
Right of use assets 6,692 6,552
Capital work-in-progress 505 293
Goodwill 10,191 7,303
Other Intangible assets 3,254 1,397
Financial assets
Investments 9,962 11,708
Loans 25 34
Other financial assets 3,450 3,105
Deferred tax assets (net) 556 454
Income tax assets (net) 3,864 3,045
Other non-current assets 2,060 2,121
Total non-current assets 52,339 48,382

Current assets
Financial assets
Investments 7,432 12,915
Trade receivables 32,013 30,193
Cash and cash equivalents 21,799 14,786
Loans 255 248
Other financial assets 12,688 12,085
Income tax assets (net) 2,418 6,397
Other current assets 12,926 12,808
Total current assets 89,531 89,432
Total Assets 141,870 137,814

EQUITY AND LIABILITIES

Equity
Equity share capital 2,072 2,071
Other equity 88,391 86,045
Total equity attributable to equity holders of the Company 90,463 88,116
Non-controlling interests 367 345
Total equity 90,830 88,461

Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities 6,336 6,400
Other financial liabilities 2,011 2,130
Deferred tax liabilities (net) 1,686 1,794
Other non-current liabilities 177 235
Total non-current liabilities 10,210 10,559

Current liabilities
Financial liabilities
Lease liabilities 2,468 1,959
Trade payables 3,841 3,956
Other financial liabilities 17,988 16,959
Other Current Liabilities 10,706 10,539
Provisions 1,436 1,796
Income tax liabilities (net) 4,391 3,585
Total current liabilities 40,830 38,794
Total equity and liabilities 141,870 137,814
The disclosure is an extract of the audited Consolidated Balance Sheet as at September 30, 2024 and March 31, 2024 prepared in compliance with the Indian Accounting Standards (Ind-AS).
4. Audited Consolidated Statement of Cash Flows (in ₹ crore)
Particulars Half-year ended September 30,
2024 2023
Cash flow from operating activities
Profit for the period 12,890 12,160
Adjustments to reconcile net profit to net cash provided by operating activities:
Income tax expense 5,384 4,970
Depreciation and amortization 2,310 2,339
Interest and dividend income (1,257) (1,006)
Finance cost 214 228
Impairment loss recognized / (reversed) under expected credit loss model 95 206
Exchange differences on translation of assets and liabilities, net (298) (1)
Stock compensation expense 420 279
Provision for post sale client support 26 168
Other adjustments 876 732
Changes in assets and liabilities
Trade receivables and unbilled revenue (2,735) (1,751)
Loans, other financial assets and other assets (233) (251)
Trade payables (147) (661)
Other financial liabilities, other liabilities and provisions 1,078 (768)
Cash generated from operations 18,623 16,644
Income taxes paid (2,165) (4,538)
Net cash generated by operating activities 16,458 12,106
Cash flows from investing activities
Expenditure on property, plant and equipment and intangibles (968) (1,299)
Deposits placed with corporation (579) (636)
Redemption of deposits placed with corporation 357 439
Interest and dividend received 1,217 973
Payment towards acquisition of business, net of cash acquired (3,155) -
Payment of contingent consideration pertaining to acquisition of business - (59)
Other receipts 5 127
Payments to acquire Investments
Tax free bonds and government bonds (2) -
Liquid mutual fund units (33,517) (33,038)
Certificates of deposit (1,885) (2,179)
Commercial Papers (2,227) (2,903)
Non-convertible debentures (1,051) (104)
Other Investments (17) (5)
Proceeds on sale of Investments
Liquid mutual funds 34,012 31,292
Certificates of deposit 3,970 4,912
Commercial Papers 7,135 1,254
Non-convertible debentures 1,030 875
Government securities 200 299
Net cash generated / (used in) from investing activities 4,525 (52)
Cash flows from financing activities:
Payment of lease liabilities (1,190) (920)
Payment of dividends (11,592) (7,246)
Loan repayment of in-tech Holding GmbH (985) -
Payment of dividend to non-controlling interest of subsidiary (2) (2)
Shares issued on exercise of employee stock options 3 3
Other receipts - 20
Other payments (265) (334)
Net cash used in financing activities (14,031) (8,479)
Net increase / (decrease) in cash and cash equivalents 6,952 3,575
Effect of exchange rate changes on cash and cash equivalents 61 (35)
Cash and cash equivalents at the beginning of the period 14,786 12,173
Cash and cash equivalents at the end of the period 21,799 15,713
Supplementary information:
Restricted cash balance 407 365
The disclosure is an extract of the audited Consolidated Statement of Cash flows for the half year ended September 30, 2024 and September 30, 2023 prepared in compliance with Indian Accounting
Standard (Ind AS) 34 Interim Financial Reporting.

5. Segment reporting (Consolidated - Audited)

(in ₹ crore)
Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
Particulars
September 30, June 30, September 30, September 30,

2024 2024 2023 2024 2023 2024

Revenue by business segment
Financial Services (1) 11,156 10,816 10,705 21,971 21,366 42,158
Retail (2) 5,446 5,428 5,913 10,873 11,426 22,504
Communication (3) 4,879 4,744 4,463 9,622 8,904 17,991
Energy, Utilities, Resources and Services 5,546 5,220 4,957 10,767 9,846 20,035
Manufacturing 6,424 5,778 5,574 12,201 10,924 22,298
Hi-Tech 3,266 3,147 3,053 6,414 6,109 12,411
Life Sciences (4) 3,004 2,866 3,050 5,871 5,799 11,515
All other segments (5) 1,265 1,316 1,279 2,581 2,553 4,758
Total 40,986 39,315 38,994 80,300 76,927 153,670
Less: Inter-segment revenue - - - - - -
Net revenue from operations 40,986 39,315 38,994 80,300 76,927 153,670
Segment profit before tax, depreciation and non-controlling interests:
Financial Services (1) 2,860 2,612 2,579 5,472 5,124 9,324
Retail (2) 1,768 1,751 1,674 3,519 3,303 6,882
Communication (3) 892 796 1,035 1,688 2,019 3,688
Energy, Utilities , Resources and Services 1,435 1,557 1,352 2,992 2,642 5,523
Manufacturing 1,297 1,006 1,033 2,303 2,005 4,197
Hi-Tech 794 814 788 1,608 1,590 3,153
Life Sciences (4) 614 611 799 1,226 1,501 2,898
All other segments (5) 149 290 180 439 320 760
Total 9,809 9,437 9,440 19,247 18,504 36,425
Less: Other Unallocable expenditure 1,160 1,149 1,166 2,310 2,339 4,678
Add: Unallocable other income 712 838 632 1,551 1,193 4,711
Less: Finance cost 108 105 138 214 228 470
Profit before tax and non-controlling interests 9,253 9,021 8,768 18,274 17,130 35,988
(1)
Financial Services include enterprises in Financial Services and Insurance
(2)
Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics
(3)
Communication includes enterprises in Communication, Telecom OEM and Media
(4)
Life Sciences includes enterprises in Life sciences and Health care
(5)
All other segments include operating segments of businesses in India, Japan, China, Infosys Public Services & other enterprises in Public Services
Notes on segment information

Business segments

Based on the "management approach" as required by Ind-AS 108 - Operating Segments, the Chief Operating Decision Maker evaluates the Group's performance and allocates resources based on an
analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments. The accounting principles used in the preparation of the
financial statements are consistently applied to record revenue and expenditure in individual segments.

Segmental capital employed

Assets and liabilities used in the Group's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is currently
not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

6. Audited financial results of Infosys Limited (Standalone Information)

(in ₹ crore)
Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
Particulars September 30, June 30, September 30, September 30,

2024 2024 2023 2024 2023 2024

Revenue from operations 34,257 33,283 32,629 67,540 64,440 128,933
Profit before tax 9,407 8,128 8,517 17,535 16,663 35,953
Profit for the period 6,813 5,768 6,245 12,581 12,202 27,234
The audited results of Infosys Limited for the above mentioned periods are available on our website, www.infosys.com and on the Stock Exchange website www.nseindia.com and www.bseindia.com. The
information above has been extracted from the audited interim standalone financial statements as stated.

By order of the Board

for Infosys Limited

Bengaluru, India Salil Parekh

October 17, 2024 Chief Executive Officer and Managing Director

The Board has also taken on record the consolidated results of Infosys Limited and its subsidiaries for the quarter and half-year ended September 30, 2024, prepared as per International
Financial Reporting Standards (IFRS) and reported in US dollars. A summary of the financial statements is as follows:

(in US$ million, except per equity share data)

Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
Particulars
September 30, June 30, September 30, September 30,

2024 2024 2023 2024 2023 2024

Audited Audited Audited Audited Audited Audited
Revenues 4,894 4,714 4,718 9,608 9,334 18,562
Cost of sales 3,400 3,259 3,271 6,659 6,481 12,975
Gross profit 1,494 1,455 1,447 2,949 2,853 5,587
Operating expenses 461 461 447 923 892 1,753
Operating profit 1,033 994 1,000 2,026 1,961 3,834
Other income, net 85 101 77 186 145 568
Finance cost 13 13 17 26 28 56
Profit before income taxes 1,105 1,082 1,060 2,186 2,078 4,346
Income tax expense 327 318 309 644 603 1,177
Net profit 778 764 751 1,542 1,475 3,169
Earnings per equity share *
Basic (in $ per share) 0.19 0.18 0.18 0.37 0.36 0.77
Diluted (in $ per share) 0.19 0.18 0.18 0.37 0.36 0.76
Total assets 16,928 17,270 15,689 16,928 15,689 16,523
Cash and cash equivalents and current investments 3,488 3,022 2,805 3,488 2,805 3,321

* EPS is not annualized for the quarter and half year ended September 30, 2024, quarter ended June 30, 2024 and quarter and half year ended September 30, 2023.

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident and the related review and notification process
are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual
results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding
the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement
a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including
immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our
corporate actions including acquisitions, the amount of any additional costs, including indemnities or damages or claims, resulting directly or indirectly from the McCamish cybersecurity incident and the
outcome and effect of pending litigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US
Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time,
make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The
Company does not undertake to update any forward looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
 Q2 FY 25
Financial
Results
Infosys Limited
CIN: L85110KA1981PLC013115
Regd. Office: Electronics City, Hosur Road, Bengaluru – 560 100, India.
Website: www.infosys.com; Email: [email protected]; Telephone: 91 80 2852 0261; Fax: 91 80 2852 0362
Statement of Audited results of Infosys Limited for the quarter and half-year ended September 30, 2024
prepared in compliance with the Indian Accounting Standards (Ind-AS)
(in ₹ crore, except per equity share data)
Particulars Quarter Quarter Quarter Half-year Year ended
ended ended ended ended March 31,
September 30, June 30, September 30, September 30,
2024 2024 2023 2024 2023 2024
Audited Audited Audited Audited Audited Audited
Revenue from operations 34,257 33,283 32,629 67,540 64,440 128,933
Other income, net 1,737 721 1,350 2,458 2,352 7,417
Total income 35,994 34,004 33,979 69,998 66,792 136,350
Expenses
Employee benefit expenses 16,864 16,495 16,435 33,359 32,788 65,139
Cost of technical sub-contractors 4,751 4,831 4,645 9,583 9,321 18,638
Travel expenses 354 371 345 725 705 1,372
Cost of software packages and others 2,380 2,117 1,809 4,497 2,982 6,891
Communication expenses 125 105 131 229 260 489
Consultancy and professional charges 299 266 275 565 490 1,059
Depreciation and amortization expense 670 698 738 1,368 1,484 2,944
Finance cost 61 59 89 120 132 277
Other expenses 1,083 934 995 2,017 1,967 3,588
Total expenses 26,587 25,876 25,462 52,463 50,129 100,397
Profit before tax 9,407 8,128 8,517 17,535 16,663 35,953
Tax expense:
Current tax 2,956 2,686 2,180 5,643 4,245 7,306
Deferred tax (362) (326) 92 (689) 216 1,413
Profit for the period 6,813 5,768 6,245 12,581 12,202 27,234
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability / asset, net 81 19 (68) 100 19 128
Equity instruments through other comprehensive income, net (9) 14 40 5 40 19

Items that will be reclassified subsequently to profit or loss

Fair value changes on derivatives designated as cash flow hedges, net (21) (3) 23 (24) 29 11
Fair value changes on investments, net 83 36 (22) 119 46 129

Total other comprehensive income/ (loss), net of tax 134 66 (27) 200 134 287

Total comprehensive income for the period 6,947 5,834 6,218 12,781 12,336 27,521

Paid-up share capital (par value ₹5/- each fully paid) 2,076 2,076 2,075 2,076 2,075 2,075
Other Equity* 79,101 79,101 65,671 79,101 65,671 79,101
Earnings per equity share ( par value ₹5 /- each)**
Basic (in ₹ per share) 16.41 13.90 15.05 30.30 29.40 65.62
Diluted (in ₹ per share) 16.38 13.87 15.04 30.25 29.38 65.56
* Balances for the quarter and half year ended September 30, 2024 and quarter ended June 30, 2024 represent balances as per the audited Balance Sheet as at March 31, 2024 and balances
for the quarter and half year ended September 30, 2023 represent balances as per the audited Balance Sheet as at March 31, 2023 as required by SEBI (Listing and Other Disclosure
Requirements) Regulations, 2015.

** EPS is not annualized for the quarter and half year ended September 30, 2024, quarter ended June 30, 2024 and quarter and half year ended September 30, 2023.

1. Notes pertaining to the current quarter

a) The audited interim condensed standalone financial statements for the quarter and half-year ended September 30, 2024 have been taken on record by the Board of Directors at its meeting
held on October 17, 2024. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the
audited interim condensed standalone financial statements. Those interim condensed standalone financial statements are prepared in accordance with the Indian Accounting Standards (Ind-
AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Update on employee stock grants

The Board, on October 17, 2024, based on the recommendations of the Nomination and Remuneration Committee, approved grant of 22,880 RSUs to six eligible employees under the 2015
Stock Incentive Compensation Plan w.e.f November 1, 2024. The RSUs would vest equally over a period of two to four years and the exercise price will be equal to the par value of the share.

c) Merger of wholly owned subsidiaries

On October 17, 2024, the Board approved the merger of WongDoody Inc, a wholly owned subsidiary of Infosys Limited with Infosys Nova Holdings LLC (Infosys Nova) , a wholly owned
subsidiary of Infosys Limited. Blue Acorn iCi Inc, Outbox Systems Inc.,d.b.a Simplus and Kaleidoscope Animation Inc which are wholly owned subsidiaries of Infosys Nova will also be merged
with Infosys Nova.
2. Information on dividends for the quarter and half-year ended September 30, 2024

The Board of Directors declared an interim dividend of ₹21/- per equity share. The record date for the payment is October 29, 2024.The interim dividend will be paid on November 8, 2024. The
interim dividend declared in the previous year was ₹18/- per equity share.

(in ₹)
Quarter Quarter Quarter Half-year Year ended
Particulars ended ended ended ended March 31,
September 30, June 30, September 30, September 30,
2024 2024 2023 2024 2023 2024
Dividend per share (par value ₹5/- each)
Interim dividend 21.00 - 18.00 21.00 18.00 18.00
Final dividend - - - - - 20.00
Special dividend - - - - - 8.00

3. Audited Standalone Balance Sheet

(In ₹ crore)
Particulars As at
September 30,
March 31, 2024
2024
ASSETS
Non-current assets
Property, plant and equipment 10,139 10,813
Right of use assets 3,269 3,303
Capital work-in-progress 467 277
Goodwill 211 211
Financial assets
Investments 26,272 23,352
Loans 35 34
Other financial assets 2,022 1,756
Deferred tax assets (net) 60 -
Income tax assets (net) 3,340 2,583
Other non-current assets 1,724 1,669
Total non-current assets 47,539 43,998

Current assets
Financial assets
Investments 6,183 11,307
Trade receivables 26,748 25,152
Cash and cash equivalents 13,917 8,191
Loans 214 208
Other financial assets 11,246 10,129
Income tax assets (net) 2,394 6,329
Other current assets 9,863 9,636
Total current assets 70,565 70,952
Total assets 118,104 114,950

EQUITY AND LIABILITIES

Equity
Equity share capital 2,076 2,075
Other equity 80,673 79,101
Total equity 82,749 81,176

LIABILITIES
Non-current liabilities
Financial liabilities
Lease liabilities 3,021 3,088
Other financial liabilities 1,876 1,941
Deferred tax liabilities (net) 887 1,509
Other non-current liabilities 88 150
Total non - current liabilities 5,872 6,688

Current liabilities
Financial liabilities
Lease liabilities 815 678
Trade payables
Total outstanding dues of micro enterprises and small enterprises 126 92
Total outstanding dues of creditors other than micro enterprises and small enterprises 2,695 2,401
Other financial liabilities 13,145 11,808
Other current liabilities 7,896 7,681
Provisions 1,083 1,464
Income tax liabilities (net) 3,723 2,962
Total current liabilities 29,483 27,086

Total equity and liabilities 118,104 114,950

The disclosure is an extract of the audited Balance Sheet as at September 30, 2024 and March 31, 2024 prepared in compliance with the Indian Accounting Standards (Ind-AS).
4. Audited Standalone Statement of Cash flows
(In ₹ crore)
Particulars Half-year ended September 30,
2024 2023
Cash flow from operating activities:
Profit for the period 12,581 12,202
Adjustments to reconcile net profit to net cash provided by operating activities:
Depreciation and Amortization 1,368 1,484
Income tax expense 4,954 4,461
Impairment loss recognized / (reversed) under expected credit loss model 67 184
Finance cost 120 132
Interest and dividend income (2,196) (1,999)
Stock compensation expense 370 246
Provision for post sale client support 19 -
Exchange differences on translation of assets and liabilities, net 53 40
Other adjustments (75) 343
Changes in assets and liabilities
Trade receivables and unbilled revenue (3,047) (1,688)
Loans, other financial assets and other assets (568) (359)
Trade payables 328 (332)
Other financial liabilities, other liabilities and provisions 1,688 142
Cash generated from operations 15,662 14,856
Income taxes paid (1,703) (4,108)
Net cash generated by operating activities 13,959 10,748
Cash flow from investing activities:
Expenditure on property, plant and equipment (651) (1,101)
Deposits placed with corporation (467) (555)
Redemption of deposits with corporation 284 389
Interest and dividend received 1,014 809
Dividend received from subsidiary 1,123 1,192
Loan given to subsidiaries (10) -
Loan repaid by subsidiaries - 3
Receipt towards business transfer for entities under common control 1 -
Investment in subsidiaries (4,348) (63)
Payment towards acquisition (181) -
Receipt / (payment) from entities under liquidation - 80
Other receipts - 123
Payments to acquire investments
Liquid mutual fund units (30,198) (29,092)
Commercial papers (2,077) (2,419)
Certificates of deposit (1,811) (1,252)
Non-convertible debentures (1,051) (104)
Other investments (1) (2)
Proceeds on sale of investments
Liquid mutual fund units 30,707 27,279
Non-convertible debentures 890 775
Certificates of deposit 3,845 3,662
Commercial papers 6,660 700
Government Securities 200 -
Net cash (used in) / from investing activities 3,929 424
Cash flow from financing activities:
Payment of lease liabilities (461) (362)
Shares issued on exercise of employee stock options 3 1
Other (payments)/receipts (75) (93)
Payment of dividends (11,620) (7,266)
Net cash used in financing activities (12,153) (7,720)
Net increase / (decrease) in cash and cash equivalents 5,735 3,452
Effect of exchange rate changes on cash and cash equivalents (9) (22)
Cash and cash equivalents at the beginning of the period 8,191 6,534
Cash and cash equivalents at the end of the period 13,917 9,964
Supplementary information:
Restricted cash balance 61 58
The disclosure is an extract of the audited Statement of Cash flows for the half year ended September 30, 2024 and September 30, 2023 prepared in compliance with Indian Accounting
Standard (Ind AS) 34 Interim Financial Reporting.

5. Segment Reporting

The Company publishes standalone financial statements along with the consolidated financial statements. In accordance with Ind AS 108, Operating Segments, the Company has disclosed the
segment information in the audited interim consolidated financial statements. Accordingly, the segment information is given in the audited consolidated financial results of Infosys Limited and its
subsidiaries for the quarter and half-year ended September 30, 2024.

By order of the Board

for Infosys Limited

Bengaluru, India Salil Parekh

October 17, 2024 Chief Executive Officer and Managing Director

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident and the related review and
notification process are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and
uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but
are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages,
investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations
such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our
market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, the amount of any additional costs, including indemnities or
damages or claims, resulting directly or indirectly from the McCamish cybersecurity incident and the outcome and effect of pending litigation. Important factors that may cause actual results or
outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on
Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements,
including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any
forward looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
 Q2 FY 25
Financial
Results
Infosys Limited
CIN : L85110KA1981PLC013115
Regd. Office: Electronics City, Hosur Road, Bengaluru 560 100, India.
Website: www.infosys.com; Email: [email protected]; Telephone: 91 80 2852 0261; Fax: 91 80 2852 0362
Extract of Consolidated Audited Financial Results of Infosys Limited and its subsidiaries for the quarter and half-year
ended September 30, 2024 prepared in compliance with the Indian Accounting Standards (Ind-AS)
( in ₹ crore, except per equity share data)
Quarter Half-year Quarter
ended ended ended
Particulars
September 30, September 30, September 30,
2024 2024 2023
Revenue from operations 40,986 80,300 38,994
Profit before tax 9,253 18,274 8,768
Profit for the period 6,516 12,890 6,215
Total comprehensive income for the period (comprising profit for the period after tax and other comprehensive
income after tax) 7,210 13,551 6,199

Profit attributable to:

Owners of the company 6,506 12,874 6,212
Non-controlling interests 10 16 3
6,516 12,890 6,215

Total comprehensive income attributable to:

Owners of the company 7,190 13,527 6,196
Non-controlling interest 20 24 3
7,210 13,551 6,199

Paid-up share capital (par value ₹5/- each fully paid) 2,072 2,072 2,070
Other equity *# 86,045 86,045 73,338
Earnings per share (par value ₹5/- each)**
Basic (in ₹ per share) 15.71 31.09 15.01
Diluted (in ₹ per share) 15.68 31.02 14.99
* Balances for the quarter and half year ended September 30, 2024 represent balances as per the audited Balance Sheet as at March 31, 2024 and balances for the quarter
ended September 30, 2023 represent balances as per the audited Balance Sheet as at March 31, 2023 as required by SEBI (Listing and Other Disclosure Requirements)
Regulations, 2015.
** EPS is not annualized for the quarter and half year ended September 30, 2024 and quarter ended September 30, 2023
#
Excludes non-controlling interest

1. Notes pertaining to the current quarter

a) The audited interim condensed consolidated financial statements for the quarter and half-year ended September 30, 2024 have been taken on record by the Board of
Directors at its meeting held on October 17, 2024. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information
presented above is extracted from the audited interim condensed consolidated financial statements. Those interim condensed consolidated financial statements are prepared
in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Update on employee stock grants

The Board, on October 17, 2024, based on the recommendations of the Nomination and Remuneration Committee, approved grant of 22,880 RSUs to six eligible employees
under the 2015 Stock Incentive Compensation Plan w.e.f November 1, 2024. The RSUs would vest equally over a period of two to four years and the exercise price will be
equal to the par value of the share.

c) Update on acquisition
On July 17, 2024, Infosys Germany GmBH acquired 100% voting interests in in-tech Holding GmbH, leading provider of Engineering R&D services headquartered in Germany,
for a consideration of EUR 465 million (₹4,213 crore).
2. Information on dividends for the quarter and half-year ended September 30, 2024
The Board of Directors declared an interim dividend of ₹21/- per equity share. The record date for the payment is October 29, 2024.The interim dividend will be paid on
November 8, 2024. The interim dividend declared in the previous year was ₹18/- per equity share.

(in ₹)
Quarter Half-year Quarter
Particulars ended ended ended
September 30, September 30, September 30,
2024 2024 2023
Dividend per share (par value ₹5/- each)
Interim dividend 21.00 21.00 18.00

3. Audited financial results of Infosys Limited (Standalone information)

(in ₹ crore)
Quarter Half-year Quarter
Particulars ended ended ended
September 30, September 30, September 30,
2024 2024 2023
Revenue from operations 34,257 67,540 32,629
Profit before tax 9,407 17,535 8,517
Profit for the period 6,813 12,581 6,245

The above is an extract of the detailed format of Quarterly audited financial results filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure
Requirements) Regulations, 2015. The full format of the Quarterly Audited Financial Results are available on the Stock Exchange websites, www.nseindia.com and
www.bseindia.com, and on the Company's website, www.infosys.com.

By order of the Board

for Infosys Limited

Bengaluru, India Salil Parekh

October 17, 2024 Chief Executive Officer and Managing Director

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident and the related
review and notification process are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve
a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties
relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability
to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and
geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation
changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our
corporate actions including acquisitions, the amount of any additional costs, including indemnities or damages or claims, resulting directly or indirectly from the McCamish
cybersecurity incident and the outcome and effect of pending litigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-
looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements
contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward
looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.