CTS India’s net profit down 40 per cent to Rs 3,265 cr in FY21

The company’s revenue also dipped nearly 5 per cent to Rs 29,682 crore in the fiscal ended March 31, 2021, from Rs 31,196 crore in FY2020, according to a Registrar of Companies filing that was shared by market intelligence firm Tofler. When contacted, Cognizant in an emailed statement said the statutory filings in India are not representative of the company’s overall performance. 

“Cognizant has reported a record setting second quarter; highest ever quarterly revenue at $4.6 billion; the largest-percentage quarterly growth since 2015, up to 14.6 per cent; and the company beat Wall Street expectations and increased revenue and earnings per share guidance,” it added. Cognizant has a significant presence in India with about 2 lakh employees. CTSI saw its total expenses increasing to Rs 24,981.7 cr in FY21. The employee benefit expense has risen to Rs 19,827 cr in FY21 over the previous fiscal, as per the document.