Advertisement

HindustanTimes Thu,17 Apr 2014

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

HT Correspondent, Hindustan Times  Mumbai, February 07, 2013
First Published: 21:48 IST(7/2/2013) | Last Updated: 09:13 IST(8/2/2013)

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.

Advertisement

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.

Advertisement
more from Business

'India's ratings to depend on new govt policies'

Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved