NASDAQ listed Cognizant delivered a strong fourth quarter performance, for the quarter ended December 31, 2011. The company reported a growth of 16.4% in its net profit at USD 240.1 million, up 5.7%.
Revenues increased 4% quarter-on-quarter to USD 1.66 billion while profits rose 6% to just over USD 240 million.
After a great finish to 2011, Francisco D'souza, the president and CEO of Cognizant tells CNBC-TV18 that the company is targeting 23% revenue growth this year. Giving its outlook for the first quarter of 2012, the company said it expects its first quarter revenue to be at least USD 1.70 billion, up 2.2%.
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