Cognizant eyes 7-9 pc revenue growth in FY2021

The company, which follows January-December financial year, said its net profit was at $367 million in the March 2020 quarter. 

The US-headquartered company, which has about 2 lakh employees based in India, saw its March 2021 quarter revenue growing 4.2 per cent to $4.4 billion over the year-ago period. 

“In the first quarter, we successfully executed our strategy of embracing digital, investing in international expansion and repositioning the Cognizant brand. Cloud migration and digital adoption create a significant opportunity for Cognizant in the coming years,” Cognizant CEO Brian Humphries said. 

He added the ongoing humanitarian crisis, especially in India, is deeply concerning. 

During an investor call, Humphries said Cognizant is making a multi-million dollar investment to assist India through the crisis. 

“The impact of the pandemic on industry attrition rates, absenteeism and client delivery remains somewhat uncertain. We monitor our situation daily, and we’ll continue to prioritise the health and safety of our associates while serving our clients who’ve been particularly supportive in recent weeks,” Humphries said. Cognizant said it expects its June 2021 quarter revenues to grow 10.5-11.5 per cent to be between $4.42 billion and $4.46 billion. Revenue is expected to be $17.8-18.1 billion for the full fiscal year, up 7-9 per cent. 

Cognizant’s total headcount stood at 296,500 people with voluntary attrition at 18 per cent.