Cognizant Q1 net jumps 35%

CORPORATE SCORECARD

Its revenues increased 40 per cent to $643.1 million (around Rs 2,633 crore) for the period.

Cost of revenue (exclusive of depreciation and amortisation) rose by 43 per cent to $366.2 million (around Rs 1,464.8 crore) from $254.9 million (Rs 1,019 crore). Earning per share grew to $0.35 ($0.26).

Total assets rose by five per cent to $1,941.6 million (around Rs 7,766.4 crore) from $1,838.3 million (around Rs 7,353.2 crore) in 2007. Liabilities decreased to $340.6 million (around Rs 1,362 crore) from $370 million (around Rs 1,480 crore), down 7 per cent.

 

Income from operations (GAAP-complied) increased to $111.6 million (around Rs 446.4 crore) from $83.6 million (around Rs 334.4 crore). Non-GAAP income increased by 37 per cent to $125.5 million (around Rs 502 crore), up from $91 million (around Rs 364 crore).

Operating margin (GAAP) dropped to 17.4 per cent (18.2 per cent). Non-GAAP operating margin dropped to 19.5 per cent (19.8 per cent).

Francisco D'Souza, president and CEO, said that healthcare, retail/ manufacturing/ logistics and other segments posted a growth of approximately 10 per cent and more. Growth in Europe was better than the company's average, up 12 per cent sequentially during the quarter.

The company is expecting at least $680 million (around Rs 2,720 crore) in the second quarter revenues. For 2008, it is expecting a revenue of $2.95 billion (around Rs 11,800 crore), an increase of 38 per cent compared with 2007.