Infosys' cash pile at Rs 15,857 cr on March-end

Software outsourcing major Infosys Technologies today said its cash and cash equivalents stood at Rs 15,857 crore at the end of fourth quarter, up 44.24 per cent over the corresponding period a year-ago.

At the end of March 31, 2010, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits was Rs 15,857 crore compared to Rs 10,993 crore as on March 31, 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 per cent rise in consolidated net profit at Rs 1,617 crore for the quarter ended March 31.

For the financial year 2009-10, it reported a 4.64 per cent growth in net profit at Rs 6,266 crore.