Latest News | Cigniti Technologies Q3 Net Profit Down 6 Pc at Rs 26 Cr

New Delhi, Jan 28 (PTI) Cigniti Technologies on Thursday reported a 6.2 per cent decline in consolidated net profit to Rs 26.34 crore for the third quarter ended December 2020.

The company had posted a net profit of Rs 28.11 crore in the same period a year ago.

The consolidated revenue from operations of the firm increased by 3.3 per cent to Rs 223.9 crore during the quarter, compared to Rs 216.74 crore in the corresponding quarter last fiscal.

"Last year, we had a concession on taxation. Earlier, we were paying 5 per cent, this year we are paying 21 per cent. That is one of the reasons, the PAT (profit after tax) is on the lower side," Cigniti Technologies CFO Krishnan Venkatchary told PTI.

He said that the company is on track to achieve a profit of Rs 120 crore with a delta of around 2 per cent.

"We took a hit in terms of salary cut due to the pandemic and we have now reversed the payroll. We are in the process of increasing (salary) from April 1. In this quarter, we won 23 accounts and a total of 38 for the nine-month period. These are marquee logos and we are very confident that we will march ahead," Venkatchary said.

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