Software outsourcing major Infosys Technologies on Tuesday said its cash and cash equivalents stood at Rs. 15,857 crore at the end of the 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.”
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“We maintained our margins in one of the toughest years for the industry while our cash and cash equivalents reached $3.5 billion,” Mr. Balakrishnan added.