Millennium Post

Cognizant Jan-March profit up 16.6%

IT services firm Cognizant on Wednesday posted a 16.6 per cent rise in consolidated net profit at $284.2 million for January-March 2013 quarter and maintained its outlook of 17 per cent revenue growth this calendar year.

The company's net profit stood at $243.7 million in the first quarter of 2012, Cognizant said in a statement.

The US-based company's revenues increased 18.1 per cent to $2.02 billion in the reported quarter from $1.71 billion in the year-ago period, in line with its guidance of 'at least $2 billion'.

'Our performance during the first quarter was strong, and we are encouraged by the healthy demand for our broad range of services,' said Francisco D'Souza, Chief Executive Officer.
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