Cognizant net income up 51%

Cognizant Technology Solutions registered a net income of $ 36 million for the quarter ended June 2005, higher by 51.26 per cent in relation to the net income of $ 23.8 million seen in the corresponding period of the previous year.

The NASDAQ-listed company recorded a revenue of $ 211.7 million in the quarter ended June 2005, a rise of 52.63 per cent over the previous year's net income of $ 138.7 million.

According to a Cognizant release, Lakshmi Narayanan, president and CEO, said, "During the quarter, we signed one of the largest pharmaceutical companies in the world as a new strategic client, and we are now partnering with five of the top ten global pharmaceutical companies to provide them with a comprehensive range of business-aligned IT solutions."