Cognizant expects to make offers to 45,000 new graduates in India in Q4

IT major Cognizant has reported about 56.3 per cent rise in September quarter net income at USD 544 million (around Rs 4,073.2 crore), and said it expects to make offers to 45,000 new graduates in India in the fourth quarter for onboarding in 2022.

The US-based company, which posted a net income of USD 348 million in September 2020 quarter, said the talent demand-supply imbalance in the industry remains “particularly acute” and that its third quarter voluntary attrition inched up to 33 per cent on an annualised basis, or 24 per cent on a trailing 12-month basis.

Cognizant’s revenue was about 12 per cent higher at USD 4.7 billion in the quarter as against USD 4.2 billion in the year-ago period.