The revenue of Infosys for the same period was USD 1.75 billion (about Rs 9,716 crore).
Last year in the same quarter, Cognizant had toppled Wipro as the third largest software exporter in India. Unveiling its second quarter earning figures, the company said its net profit grew 21 per cent to USD 251.9 million for the quarter ended June 30, on a revenue of USD 1.79 billion. For the September quarter, Cognizant anticipates its revenues to be at least USD 1.875 billion, while for the 2012, it maintained outlook for revenue to be at least USD 7.34 billion (at least 20 per cent growth compared to 2011). With a bullish annual revenue outlook, Cognizant may remain at the number two spot as Infosys has given a muted guidance of 5 per cent growth for the year, given the uncertainty in the global environment. Infosys expects revenues to be USD 7.343 billion in FY’13.
Cognizant follows a January-December fiscal while Infosys financial year runs through April-March. Though Cognizant is not listed in India, three-fourth of its over 1.45 lakh employees are based in India and is often referred to as an Indian entity.
Cognizant CEO Francisco D’Souza said, “Clients continue to turn to Cognizant to help reinvent their business models in the face of secular industry changes, evolving demographics, and a new stack of social, mobile, analytics, and cloud technologies.”
Shares of Cognizant were trading at USD 64.61, 11.67 per cent higher than its previous close on Nasdaq in early trade.
- TCS, Cognizant race ahead of Infosys, Wipro: Brokerage firms
- Infosys Q1 net rises 32.92% at Rs 2,289 crore
- Infosys Q4 net profit up 27.4 pc at Rs 2,316 cr
- Sensex tumbles 238 pts on disappointing Infosys outlook
- Coke posts 20 per cent sales volume growth in India in Q1
- Sensex down 244 pts in early trade on Infosys guidance outlook
- PepsiCo posts double digit volume growth in India
- Sensex tanks 257 pts as Infosys Q1 results disappoint mkts
- Sensex dips 138 pts, Infosys slips on weak forecast
- India overtakes US as Nigeria’s biggest export market