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| Cognizant Q4 net up 28% at $144 mn |
| Press Trust of India / New Delhi Feb 09, 2010, 18:56 IST |
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BPO firm Cognizant Technology Solutions today reported a 28 per cent jump in net profit at $144 million (about Rs 673 crore) for the fourth quarter ended December 2009.
The company had reported a net profit of $112.3 million (about Rs 525 crore) in the corresponding period last year, Cognizant said in a statement.
Cognizant, which competes with Indian IT firms such as TCS, Infosys and Wipro, also gave a strong outlook for 2010. The Nasdaq-listed firm expects revenues to touch $3.95 billion in 2010, at least 20 per cent up compared to 2009.
Revenues of the IT firm stood at $3.27 billion for the year-ended December 2009, up 16 per cent from last year.
For the fourth quarter period, revenues stood at $902.7 million, up by 20 per cent from the corresponding period last year.
"Despite a very difficult economy, Cognizant delivered strong results with 16 per cent annual revenue growth. The investments we made in our business leave us in an even stronger position than when we entered 2009," said Francisco D'Souza, President and CEO of Cognizant.
The information technology, consulting and BPO services provider, which has nearly 75 per cent of its employees base in India, has added 10,300 employees during the said quarter globally taking the total headcount to 78,400.
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