Cognizant Q2 income up 42%; to hire 1 lakh staffers

New Delhi, July 29

Cognizant has reported 41.8% rise in June quarter net income at $512 million (around Rs 3,801.7 crore), and said it expects to hire around 1 lakh people this year as the IT major looks to arrest high attrition rates.

The US-based company, which posted a net income of $361 million in the June 2020 quarter, has also raised its FY2021 revenue growth guidance to 10.2-11.2% on the back of strong booking momentum.

Cognizant’s revenue rose 14.6% at $4.6 billion in the quarter under review, from $4 billion in the year-ago period. This is higher than the company’s guidance of 10.5-11.5% revenue growth for the June 2021 quarter.

Cognizant has around 2 lakh employees in India and follows January-December as financial year. — PTI