Cognizant Technology Solutions Corp. has beaten India-based competitors such as Tata Consultancy Services Ltd (TCS) and Infosys Technologies Ltd in terms of incremental revenues for the first time ever in the 12-month period from April 2008 till March.
The firm reported revenues of $2.9 billion (Rs14,413 crore today) for FY09, $600 million more than the revenues in FY08. Adjusted for two small acquisitions, the incremental revenues stand at $558 million.
This is higher than the incremental revenues of $487 million reported by Infosys and the $310 million (adjusted for acquisitions) reported by TCS. For perspective, these two companies are 1.6 times and 2 times the size of Cognizant, respectively. Wipro Ltd’s information technology (IT) services division, 1.5 times the size of Cognizant, reported incremental revenues of about $530 million after adjusting for revenues added through acquisitions.
HCL Technologies Ltd, which makes up the top five in terms of IT outsourcing work to India, reported incremental revenues of $220 million on an organic basis.
Wednesday, May 6, 2009
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