Cigniti Technologies Q1 results: Net profit drops by 30% to Rs 20 Cr

New Delhi: IT company Cigniti Technologies on Friday reported a nearly 30 per cent decline in consolidated net profit to Rs 20.42 crore for the quarter ended on June 30, 2021. The company had posted a net profit of Rs 29.11 crore in the same period a year ago.

The consolidated revenue of Cigniti Technologies increased by 21 per cent to Rs 264.36 crore during the reported quarter from Rs 218.4 crore in the corresponding quarter of 2020-21.

"As a company, we continue to consistently implement strategies to increase our market share as well as market size. Keeping in mind the increasing demand of the industry, we have made additions to our extensive product portfolio and services and are gearing up for further enhancing our offerings in the software testing industry," Cigniti Technologies Chairman and MD C V Subramanyam said in a statement.