| Cognizant Q1 net income up 60% at $75.4mn |
| BS Reporter / Mumbai May 02, 2007 |
| Cognizant Technologies today announced a 60% increase in net income for the first quarter of the financial year ended March 31, 2007 at $75.4 million (around Rs 310 crore) from $47.2 million (around Rs 195 crore) in the corresponding period of the previous year. Revenue during the first quarter increased to $460.3 million (around Rs 1,930 crore) - up 61% from $285.5 million (around Rs 1,200 crore) in the corresponding quarter of financial year 2005-06. Cognizant achieved a higher GAAP operating margin of 18.2% in the first quarter from 18% in the fourth quarter of 2006. Excluding a stock-based compensation expense of $7.4 million in the first quarter, non-GAAP operating margin was 19.8% in line with the company |
