Cognizant's Q1 2013 revenues were up by 18.1 per cent compared to the corresponding period last year
BANGALORE, INDIA: Relegating industry peers to
secondary and tertiary positions, Cognizant Technology Solutions (CTS)
has registered an impressive 3.7 per cent quarter-on-quarter (QoQ)
growth (in dollar terms) in its first quarter 2013 (FY2013) - fourth
quarter 2012-13 for the rest of its major Indian IT competitors,
including Tata Consultancy Services (TCS), HCL, Infosys and Wipro.
The revenues of CTS for the first quarter of 2013 rose to $2.02
billion, up 18.1 per cent from $1.71 billion in the first quarter of
2012 (YoY). During the period, its quarterly revenue climbed 3.7 per
cent sequentially.
"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 of CTS. "We continue to make
solid progress developing emerging offerings in new markets, new SMAC
technologies, and new non-linear solutions and services. I'm
particularly pleased with the recent launch of our portfolio of
Cognizant BusinessCloudSM solutions that enable clients to quickly
deploy a range of business and best-in-class IT solutions and to forgo
costly capital outlays and lengthy implementation timelines."
Contrastingly, in the March 2013 quarter, the dollar revenues of HCL
Technologies grew by 3.2 per cent, that of TCS - numero uno software
exporter from the country - by 3.1 per cent, Infosys's by 1.4 per cent
and Wipro's by 0.5 per cent QoQ.
Among the least impressive, Infosys's profits dipped by 4.1 per cent
to $444 million in the January-March quarter, but revenues were up by 9
per cent to $1.93 billion and for Wipro, though IT services revenue grew
13 per cent YoY in rupee terms to Rs. 8,554 crore, growth in dollar
terms was 3.2 per cent YoY and 0.5 per cent sequentially to $1.59
billion as projected in mid-January.
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