Cognizant Q1 profits up by 20%

Software major Cognizant Technology Solutions reported a revenue growth of 20.2 per cent to reach $ 2.91 billion for the first quarter ended March 31, 2015 from $ 2.42 billion in the first quarter of 2014.

The company’s revenue grew 6.2 per cent sequentially. Net profit or GAAP net income of the company increased to $ 382.9 million, or $ 0.62 per diluted share, up by 5.5 per cent sequentially and 9.7 per cent increase from the same period last year.

The Non- GAAP operating margin was 19.8 per cent for the quarter.

Cognizant, which follows the calendar year, forecasts that the revenue for the second quarter of 2015 to be at least $ 3.01 billion.