Cognizant net income up 11.5%, to hire 50K from campuses this year

India will see the majority of this hiring

Nasdaq-listed Cognizant reported year-on-year (YoY) revenue growth of 10.9 per cent in constant currency to $4.8 billion for the first quarter ended March 31.

Its net income for the quarter increased 11.5 per cent YoY to $563 million, but dropped sequentially. When compared to peers TCS and Infosys, the company's performance was weaker. TCS reported revenue growth of 14.3 per cent YoY and Infosys clocked 21 per cent YoY growth.

But Rajesh Nambiar, chairman and managing director (CMD) of Cognizant India and president Digital Business and Technology, said the Q1 CY22 results were all about consistency. “This is our fourth consecutive quarter