Cognizant Technology Solutions Corporation has reported a 19 per cent increase in net profit to $300 million for the second quarter ended June 30, 2013, against $252 million in the second quarter 2012.

Quarterly revenue rose to $2.161 billion, up 20.4 per cent from the year-ago quarter and 7 per cent sequentially.

The addition of $141 million in sequential revenue was the second highest incremental revenue addition in Cognizant’s history, says a company press release.

The US-based provider of information technology, consulting, and business process outsourcing services, said that the net employee addition for the quarter was approximately 1,600.

“As we celebrate the 15th anniversary of our public listing on the Nasdaq stock exchange, we are delighted to yet again deliver industry-leading revenue growth,” said Francisco D’Souza, Chief Executive Officer. “Our 15 year record of revenue and earnings growth is a testament to our long-term strategy of reinvesting in our business to stay relevant to our clients’ changing needs and to provide increasing value as we grow each of those trusted relationships. This reinvestment strategy continues to enable Cognizant to excel in our core services while simultaneously investing in multiple horizons of growth, thereby continuing to position us well for the future,” he said in a press release.

(This article was published on August 6, 2013)
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