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    Published On : Fri, May 5th, 2017
    Business News | By Nagpur Today Nagpur News

    Cognizant Q1 profit grows 26.31% to $557 million

    Cognizant
    Channai:
    Cognizant Technology Solutions has reported a 26 increase in net profit at $557 million in the first quarter ended March 31, 2017 against $441 million in the same period last year.

    Revenues were up 11 per cent at $3.55 billion for the US-based software company that has over 75 per cent of its employees working in India.

    “We delivered solid results in the first quarter and continued to build our digital solutions portfolio, expand our skills, and enhance our engagement with clients,” said Francisco D’Souza, Chief Executive Officer, Cognizant.

    “We are making good progress in accelerating Cognizant’s shift to digital services and solutions to create value for clients and shareholders, positioning us well to achieve both our revenue and margin targets for this year,” he said in a press release.

    The company expects second quarter 2017 revenue to be in the range of $3.63 billion to $3.68 billion, the release said.

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