Cognizant Technology Solutions India's (CTSI) net profit declined 11.4 per cent to Rs 5,455 crore in FY20 from Rs 6,160 crore in FY19, as per regulatory documents.
The company's revenue, however, increased 2.3 per cent to Rs 31,050 crore in the fiscal ended March 31, 2020 from Rs 30,347 crore in FY2019, according to Registrar of Companies filing shared by market intelligence firm Tofler.
Emails sent to the company did not elicit any response.
Cognizant has a significant presence in India with about 2 lakh employees.
The company's expenditure was almost flat at Rs 21,763 crore in FY20 as compared to last year.
"During the financial year, the company continues to witness growth owing to enhanced relationship with company's most trusted customers and initiating new long term partnerships with leading businesses in India spanning across private banks, large pharma and consumer goods companies," the filing said.
From end-to-end IT outsourcing to multi-year matured managed services, and from strategic digital transformation to new-age infrastructure services, Cognizant is today working with some of the top enterprises in India, it added.
The company is also helping some of the leading global organisations in making their India based operations more efficient, it said.
"With more than a decade of experience in servicing customers in India, the company has witnessed evolution of the sector and the growth of Indian economy and continues to stay committed to grow and focus on the demands of customers in India," it noted.
Cognizant has demonstrated its commitment by investing in its team to equip them with latest digital skills, onboarding leaders with expertise in a wide range of industries and technologies and strengthening its industry/technology alliances, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU