RAVI KUMAR S
CEO, Cognizant India
RANK 8 COGNIZANT INDIA
It looked like a year of a stern diet-complemented vigorously with the exercise of new muscles and pulling of big weights. When we look at Cognizant, its latest results show accelerated bookings growth in the first quarter of 2023. The company is confident of its healthy regimen on the back of several large deals and a balanced mix of new and expansion work. But it is also relentlessly hewing costs with a specially-crafted strategy and programme in the last few months.
Let's look at bookings first. They grew 28 per cent yearover-year in the first quarter (and on a trailing-twelvemonth basis, went up nine per cent US$25.6 billion, churning out a book-to-bill of approximately 1.3x.) In its first quarter 2023 financial results, we also saw a drop of revenue (US$4.8 billion) of 0.3 per cent year-over-year, (but it was up 1.5 per cent in constant currency).
For the previous full-year reported, revenue of US$19.4 billion was high by 5.0 per cent year-over-year (7.5 per cent in constant currency). Bookings shot up four per cent to US$24.1 billion (creating a book-to-bill of approximately 1.2x.).
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This story is from the August 2023 edition of DataQuest.
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This story is from the August 2023 edition of DataQuest.
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