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Cognizant's Jul-Sept net up 22%

Last Updated: Wednesday, November 7, 2012 - 18:37

New Delhi: Cognizant Technology Solutions on Wednesday posted 22 percent jump in consolidated net income at USD 276.9 million for the third quarter ended September 30, on the back of growth in newer service offerings of consulting, BPO and IT infrastructure services.

The company's net profit stood at USD 227.1 million in the same period last year, the software major said in a statement.

"We are pleased that our growth was broad-based across services and geographies," Cognizant President Gordon Coburn said in a statement.

He added: "Of particular note this quarter is the performance of our newer service offerings of consulting, Business Process Outsourcing and IT infrastructure services."

In the quarter under review, these services comprised nearly 20 percent of the company's total revenue.
Cognizant's revenues grew 18.2 percent in the quarter under review to USD 1.892 billion from USD 1.601 billion, exceeding its guidance of "at least USD 1.875 billion" revenues for the quarter.

The IT major expects its fourth quarter revenue to be "at least USD 1.94 billion". It maintained its outlook for FY12 revenue to be at least USD 7.34 billion (up at least 20 percent compared to 2011).

Cognizant follows a January-December fiscal. Though it is not listed in India, about 75 percent of its over 1.50 lakh employees are based in India and is often referred to as an Indian entity.

The company added about 5,100 people (net) in the quarter, taking its headcount to about 150,400.


First Published: Wednesday, November 7, 2012 - 18:37
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