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HomeBusinessCognizant's March quarter net profit up 11.48 percent at $563 million

Cognizant’s March quarter net profit up 11.48 percent at $563 million

New Delhi, May 5 (PTI) US information technology services company Cognizant reported a 11.48 per cent rise in net profit at $563 million in the first quarter of 2022. The company said the increase in profit is mainly due to digital income growth.

The company’s net profit was $505 million in the same quarter a year ago.

Cognizant said the company plans to add more than 50,000 new hires in India and expects to cross USD 20 billion in revenue this year.

The company’s income grew 9.65 percent to $4.82 billion in the quarter under review. It was US$ 4.4 billion in the same quarter of 2020-21 a year ago.

Cognizant’s digital revenue grew 20 percent year-on-year.

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