Cognizant Q2 net profit up 11.6% to $509 mn

IT major Cognizant on Thursday posted 11.6 per cent increase in net profit to USD 509 million for June 2019 quarter, and said it expects 3.9-4.9 per cent growth in annual revenue this year.

The US-based company, which has a significant portion of its workforce based in India, had posted a net profit of USD 456 million in the year-ago period, Cognizant said in a statement.

Its revenue grew 3.4 per cent to USD 4.14 billion in the second quarter of 2019, compared to USD 4 billion in the year-ago period. The topline rose 4.7 per cent on constant currency basis, meeting the guidance of 3.9-4.9 per cent growth in the June 2019 quarter.

For July-September quarter, Cognizant expects its revenues to be 3.8-4.8 per cent in constant currency, while for the full year, the topline is forecast to grow by 3.9-4.9 per cent.