Cognizant reports 20 per cent rise in March quarter revenue

Cognizant Technology Solutions, the IT service provider, reported a 20 per cent rise in quarterly revenue, helped by higher spending by healthcare and financial services clients in North America.

The company's net profit rose to $382.9 million, or 62 cents per share, for the first quarter ended March 31 from $348.9 million, or 57 cents per share, a year earlier.

Revenue rose to $2.91 billion from $2.42 billion.

(Reuters)