Cognizant pips Wipro as third in North American revenue

Cognizant has pipped Wipro in terms of revenue from the North America — a major market for Indian IT companies. The New Jersey-based company, whose major operations are in India, now ranks third after TCS and Infy. Cognizant’s revenues from the region touched $621 million during April-June 2009 quarter while Wipro’s revenues fell $16 million to $617 million in the same quarter.

“Cognizant has been reporting better results than the others. The company is growing at 13-14 % and is gaining market share more than the others in the region and are growing faster than the competition ,” Manik Taneja of Emkay Research said.

Interestingly, from July-September 2008 quarter till April-June 2009, Cognizant has been the only one in the top four to have consistently gained in revenues from the region. TCS topped the quarter with $774 million and Infy $726 million.

“Cognizant focuses on a limited number of geographies and industries and has built deep capabilities and insights in those areas. Through a combination of deep consulting and domain expertise, and high-touch relationship management , Cognizant has built leadership positions in each of the areas. We will continue to invest in North America, while expanding in other markets like Europe and Asia Pacific,” a Cognizant spokesperson said.

Manish Dugar, CFO, Wipro Technologies told ToI, “We do not believe that we have fallen behind in North America... we continue to win large deals... see good traction in terms of deal pipeline... Our revenues in the US have broadly been in line with our overall performance. While the macroeconomic environment has been challenging in the US, we are starting to see semblance of stability in the markets.”