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Cigniti, a software testing solutions firm, has reported a net profit of ₹25.22 crore in the second quarter ended September 30, 2020, as against ₹35.72 crore in the comparable quarter last year.
It registered a revenue of ₹221.20 crore in the quarter as against ₹214.60 crore in the same quarter last year.
“The firm reported a profit after tax of ₹25.22 crore after one-time tax adjustment of ₹8.95 crore on account of tax assessment for earlier years of the US subsidiary Cigniti Technologies,” a Cigniti statement has said.
“We were able to deliver a good performance in our second quarter and maintain the momentum of growth,” CV Subramanyam, Chairman and Managing Director, has said.
The revenue from top 5 clients contributed about 20.5 per cent of the total revenue in the quarter. The banking, financial services and insurance; retail and e-commerce; and travel and transport sectors contributed the most to the revenues.
While North America and Canada contributed the lion’s share of 90 per cent of the revenues, the UK and Europe chipped in 6 per cent and the rest of the world 4 per cent.
The firm registered a net profit of ₹54.32 crore in the first half of the financial year ended September 30, 2020, as against ₹64.22 crore in the same period previous year.
The revenue for the first half stood at ₹439.60 crore (₹422.18 crore) in the first half of the financial year.
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