Infosys previously had plans to sell the e-commerce firm in 2019 but had it declassified as “held for sale.” The software company instead opted to repurpose the firm’s business as they didn’t expect a sale to materialise in the expected time period.
Together, these assets amounted to Rs 2,060 crore (or $316 million), and liabilities amounted to Rs 324 crore ($50 million).
The company had initially acquired the firm for $120, along with Israeli firm Panaya, in 2015. This reclassification reportedly impacted their margin by $12 million.
Their operating margin had fallen 40 basis points due to additional depreciation and amortisation following this reclassification.
There was a recognised reduction of Rs 451 crore in the carrying value for…
