India's premier independent software testing services company, Cigniti Technologies announced its Q2 FY 2013 results. Cigniti is India's largest independent software testing services company with operations in India, USA and Europe.
Consolidated revenues grew in INR terms by 17.6% Quarter-on-Quarter to Rs. 36.23 Crores from Rs. 30.81 Crores
Consolidated revenues grew in dollar terms by 17.4% Quarter-on-Quarter to $ 6.74 Mn from $ 5.74 Mn
Net profits grew 31% Quarter-on-Quarter to Rs. 13.9mn from Rs. 1.06 Crores.
EPS grew 30% Quarter on Quarter to Rs. 0.82 from Rs. 0.63
Commenting on the company's performance, Sudhakar Pennam CEO said, "Our growth momentum is strong and we have reached an annualized revenue run rate of $27 Million this quarter. The increased investments in sales, marketing and setting up test labs has helped maintain our revenue growth. We expect our investments in intellectual property led testing to start impacting our bottom line positively by the end of this year. We are on track to becoming the world's largest independent testing services company within the next three years."
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.