Annual Report 1999 of Infosys

It is a broadly described annual report of Infosys in the year of 1999. During the year, the company added Rs. 64,11,69,396 to its gross block, including investment in technology assets of Rs. 28,94,72,182. During the previous year, the company added Rs. 34,13,26,052 to its gross block, including investment in technology assets of Rs. 17,50,02,584.The authorized capital of the company was increased to Rs. 50,00,00,000 consisting of 5,00,00,000 shares of Rs. 10 each. During the year, the company earned an operating profit of Rs. 191,74,83,638 representing 37.40% of total revenue as compared with Rs. 88,61,15,418, representing 34.03% of total revenue during the previous year. The net profit of the company from ordinary activities amounted to Rs. 132,91,53,560 and Rs. 60,36,33,079 for the years ended 31^st March 1999 and 1998. This represents 25.92% and 23.18% of total revenue for the respective years. During the year, the company sold 13,63,637 shares of its preferred stock holding in its subsidiary Yantra Corporation, at US$ 1.10 per share.

The Board of Directors has recommended a final dividend of Rs. 5.00 per share (50% on a par value of Rs. 10), pro rata, making in all, a total dividend of Rs. 7.50 per share (75% on a par value of Rs. 10), pro rata, for the current year. The total amount of dividend is Rs. 12.11 Crore as against Rs. 70.3 Crore for the previous year.

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