Infosys cash pile at Rs 14,449 cr

Software outsourcer Infosys Technologies today said its cash and cash equivalents stood at Rs 14,449 crore at the end of December quarter, an increase of 52 per cent over the corresponding period a year-ago.

"Cash and cash equivalents, including investments in liquid mutual funds, as on December 31, 2009 was Rs 14,449 crore, against Rs 9,488 crore as on December 31, 2008," Infosys said in a statement.

Commenting on the liquidity and capital expenditure plans of the company, Infosys Chief Financial Officer V Balakrishnan said: "The rupee appreciated by 3.7 per cent during the quarter. We maintained our margins while our cash and cash equivalents reached $3.1 billion."

However, the company's net current assets on consolidated basis declined on a quarter-on-quarter basis to Rs 11,462 crore at the end of September quarter. The same stood at Rs 12,110 crore for the three months ended September 30, 2009.

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.

The country's second largest software exporter today reported a 3.6 per cent decline in consolidated net profit at Rs 1,582 crore for the third quarter ended December 2009.