Cognizant Technology Solutions, the US-based IT services major, edged past Wipro to claim the third spot by net revenues among India’s top IT services companies.
Cognizant’s revenues for the April-June quarter of the current fiscal rose 34% from the year ago period to touch $1.5 billion (Rs 6,580 crore). This compares with the quarterly revenues of Tata Consultancy Services (TCS) and Infosys, which are ranked at number one and two respectively.
Though Cognizant is a US-based company, it is considered for practical purposes as an Indian one as it is mainly an offshore outsourcing company with most of its operations in India.
Wipro had reported revenues of $1.4 billion (Rs 6,204 crore) for the April-June quarter.
During this quarter TCS and Infosys reported revenues of $2.4billion (R10,680 crore) and $1.7 billion Rs 7,584 crore).
Headquartered in Teaneck, US the company has a total workforce of 118,300, of which 88,000 are employed in India. The company calculates its fiscal year from January till December.
“We believe that our ability to attract the world’s best talent and our unique global delivery model infused with deep consulting and domain expertise are among the reasons why we see continued demand for our services that deliver both top-line and bottom-line value to our clients,” said Francisco D’Souza, president and CEO, Cognizant.