Infosys’ ‘other income’ zooms nearly five times
January 12th, 2010 - 2:03 pm ICT by IANS ( Leave a comment )Mysore, Jan 12 (IANS) 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.
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Tags: 1 billion, bellwether, cash reserves, chief financial officer, crore, first nine months, global software, investments, margins, mutual funds, q3, record jump, rs 2, rs 40, rupee, second quarter, v balakrishnan
