New Delhi: Cognizant Technology Solutions India (CTSI) net profit decreased approximately 40 percent to Rs 3,265 billion in FY21 from Rs 5,464 billion in FY20, according to regulatory documents. The company’s revenue for the fiscal year ended March 31, 2020 also fell almost 5 percent to 29,682 billion.
Emails sent to the company generated no response.
Cognizant has a significant presence in India with approximately 2 lakh employees.
CTSI’s total spending increased to Rs 24,981.7 billion in FY21. Employee benefit expenses increased to Rs 19,827 billion in FY21 compared to the previous fiscal year, according to the document.
“During the fiscal year, the company saw continued growth due to improved relationships with the company’s most trusted customers and the initiation of new long-term partnerships with leading companies in India ranging from private banks, major pharmaceutical and consumer goods companies,” the filing states .
From end-to-end IT outsourcing to multi-year, mature managed services, from strategic digital transformation to new age infrastructure services, today the company works with some of the top companies in India, helping some of the leading global ones Organizations in making their India-based operations more efficient, she added.
“With over a decade of experience serving customers in India, the company has seen the sector evolve and the Indian economy grow, and continues to be committed to growing and focusing on the needs of customers in India.
“The company has demonstrated its commitment by investing in our team to equip them with the latest digital skills, bring on board executives with expertise in a variety of industries and technologies, and strengthen our industry / technology alliances” According to the submission.
