Cognizant pips Infy in revenue terms, Q4 net profit up 16%

  • HT Correspondent, Hindustan Times, Mumbai
  • |
  • Updated: Feb 08, 2013 09:13 IST

IT services company Cognizant Technology Solutions Corp, based in the US but with its operations in India, on Thursday surpassed India’s second-largest software services major Infosys in terms of revenue growth, reporting a 17% year-on-year rise in revenue at $1.95 billion (Rs 10,379 crore) for the October-December quarter.

The company reported a 16% year-on-year increase in net profit to $278.8 million (Rs 1,484 crore) during the quarter, aided by a 20% rise in revenue from core financial service management business and a 9.4 % increase in the healthcare management business.

Cognizant added 6,300 people during the quarter, taking its total headcount to 156,700. http://www.hindustantimes.com/Images/Popup/2013/2/08_02_biz3.jpg

The company follows a January-December fiscal year. Though it is not listed in India, about 75% of its employees are based in India and is often referred to as an Indian entity.

In full-year results, Cognizant reported a 19% growth in net profit at $1.1 billion (Rs 5,852 crore) and a 20% growth in revenue at $7.3 billion (Rs 38,836 crore) in 2012.

The company gave a revenue guidance of $2 billion for the  first quarter of 2013 and $8.6 billion for the full year 2013.
“We are pleased to once again deliver industry-leading revenue growth in 2012,” said Francisco D'Souza, CEO, Cognizant.

 

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