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NelsonHall Recognizes Cigniti as a Leader in AI Testing & Overall Quality Engineering Capabilities

DALLAS - (BUSINESS WIRE) - Cigniti Technologies has been positioned as a Leader in NelsonHall Vendor Evaluation & Assessment Tool (NEAT) chart 2020 for AI Testing, Continuous Testing, and overall Quality Engineering capabilities.

Evaluating vendors on both their ‘ability to deliver immediate benefit’ and their ‘ability to meet client future requirements’, vendors are identified in one of four categories: Leaders, High Achievers, Innovators, and Major Players. Leaders are the vendors that exhibit both a high ability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet clients’ future requirements.

Speaking on the occasion, Srikanth Chakkilam, CEO – Cigniti Technologies said, “There is an increased adoption of AI-based systems across the industries to provide better customer experience and delivering quality applications at speed. Cigniti leverages AI to test as well as tests AI-based systems. Our AI-driven quality engineering approach for continuous testing (CT), Agile, and DevOps helps enterprises accelerate their digital transformation.”

“We continue to significantly invest in our IP, BlueSwan™ and enhance its capabilities, to create new IP-based solutions, such as AI-led test data management, test environment management and security engineering. We have enriched Verita and Velocita with the AI-based analytics use cases which are helping our enterprise clients to achieve significant acceleration in their org-wide test automation initiatives,” Srikanth added.

The NelsonHall Vendor Evaluation & Assessment Tool (NEAT) allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations. It helps them identify the best performing vendors overall with a specific focus on AI testing, continuous testing, UX testing and more.

Commenting on this, Dominique Raviart, IT Services Practice Director at NelsonHall said, “Cigniti has expanded its capabilities toward continuous testing and functional automation. The company has a systematic IP strategy to bring further automation to QA in the context of continuous testing and agile projects. Cigniti has also quickly expanded its range of AI use cases; it is one of the few vendors that has invested in non-functional AI use cases, targeting security testing.”

Access the report here to understand the criteria for selecting a software testing services vendor.

Access the full coverage here

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing Services, serving Fortune 500 and Global 2000 enterprises. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, Next-Gen testing and Quality Assurance solutions.

About NelsonHall:
NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in digital operations transformation. With analysts in the U.S., U.K., and Continental Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. NelsonHall’s research is based on rigorous, primary research, and is widely respected for the quality, depth and insight of its analysis.

Contact
Midhun Pingili
Midhun.pingili@cigniti.com

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NelsonHall recognizes Cigniti as a Leader in AI Testing & overall Quality Engineering capabilities

Dallas, TX, 8th Sep, 2020: Cigniti Technologies has been positioned as a Leader in NelsonHall Vendor Evaluation & Assessment Tool (NEAT) chart 2020 for AI Testing, Continuous Testing, and overall Quality Engineering capabilities.

Evaluating vendors on both their ‘ability to deliver immediate benefit’ and their ‘ability to meet client future requirements’, vendors are identified in one of four categories: Leaders, High Achievers, Innovators, and Major Players. Leaders are the vendors that exhibit both a high ability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet clients’ future requirements.

Speaking on the occasion, Srikanth Chakkilam, CEO – Cigniti Technologies said, “there is an increased adoption of AI-based systems across the industries to provide better customer experience and delivering quality applications at speed. Cigniti leverages AI to test as well as tests AI-based systems. Our AI-driven quality engineering approach for continuous testing (CT), Agile, and DevOps helps enterprises accelerate their digital transformation.”

“We continue to significantly invest in our IP, BlueSwan™ and enhance its capabilities, to create new IP-based solutions, such as AI-led test data management, test environment management and security engineering. We have enriched Verita and Velocita with the AI-based analytics use cases which are helping our enterprise clients to achieve significant acceleration in their org-wide test automation initiatives.” Srikanth added.

The NelsonHall Vendor Evaluation & Assessment Tool (NEAT) allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations. It helps them identify the best performing vendors overall with a specific focus on AI testing, continuous testing, UX testing and more.

Commenting on this, Dominique Raviart, IT Services Practice Director at NelsonHall said, “Cigniti has expanded its capabilities toward continuous testing and functional automation. The company has a systematic IP strategy to bring further automation to QA in the context of continuous testing and agile projects. Cigniti has also quickly expanded its range of AI use cases; it is one of the few vendors that has invested in non-functional AI use cases, targeting security testing.”

Access the report here to understand the criteria for selecting a software testing services vendor.

About Cigniti:

Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing Services,   serving Fortune 500 and Global 2000 enterprises.    Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, Next-Gen testing and Quality Assurance solutions.

About NelsonHall:

NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in digital operations transformation. With analysts in the U.S., U.K., and Continental Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. NelsonHall’s research is based on rigorous, primary research, and is widely respected for the quality, depth and insight of its analysis.

Contact: Midhun.pingili@cigniti.com

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Cigniti Technologies Q1FY21 Revenue

Cigniti Technologies Q1FY21 Revenue:
Consolidated Revenue Rs. 218.40 crores and Net Profit Rs. 29.11 Cr
Standalone Revenue Rs. 72.99 crores and Net Profit Rs. 12.20 Cr

Consolidated Financial Performance for Q1FY21 v/s Q1FY20 (Corresponding Year)

  • Revenue of Rs. 218.40 crore v/s. Rs. 207.58 crore [á 5.2%]
  • EBITDA of Rs. 36.05 crore v/s. Rs. 31.64 crore
  • PAT of Rs. 29.11 crore v/s. Rs. 28.50 crore

Consolidated Financial Performance for Q1FY21 v/s Q4FY20 (Corresponding Quarter)

  • Revenue of Rs. 218.40 crore v/s. Rs. 233.04 crore [-6.3%]
  • EBITDA of Rs. 36.05 crore v/s. Rs. 31.55 crore
  • PAT of Rs. 29.11 crore v/s. Rs. 29.26 crore

Mumbai, August 4, 2020: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended June 30, 2020.

The company’s Net Profit for Q1FY21 stood at Rs 29.11 crore as against Net Profit of Rs 29.26 crore in Q4FY20.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 218.40 crore as against Rs 233.04 crore in Q4FY20.

EBIDTA for the June quarter was at Rs 36.05 crore and EBIDTA margin stood at 16.5%.

Other income includes Net foreign exchange gain of Rs. 2.26 Cr. for the quarter ended June 30, 2020

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am pleased to announce that for the first quarter we have witnessed sustained growth performance on the back of increased efficiency and new opportunities. As a company, we are optimistic on new growth prospects and new strategies in the post COVID world with the emergence of digital innovation.”  

Highlights for the quarter ended June 30, 2020

  • Revenue from top 5 clients contributed approximately 20.2% of the Revenue
  • Travel & Transport, BFSI and Retail & e-Commerce sector contributed the most to the revenue for Q4FY20
  • Revenue split geographically: North America & Canada – 90%, UK & Europe – 6%, Rest of the World 4%

About Cigniti Technologies Limited

Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing and Quality Engineering Services, is headquartered at Hyderabad, India. Cigniti’s 2500+ employees are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first Independent Software Testing Services Company to be appraised at CMMI-SVC v1.3, Maturity Level 5, and is also ISO 9001:2008 & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance.

For further information, please contact:

Sanjay Punjabi / Chintan Kotak / Raveena Shetty
Adfactors PR ltd
Mob:  9821080048 / 9920865113 / 9769539969
Email: sanjay.punjabi@adfactorspr.com
chintan.kotak@adfactorspr.com
raveena.shetty@adfactorspr.com

Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com

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Top software testing skills that are high on demand

With software testing becoming more advanced and demand increasing, there is a need for reskilling the workforce as well.

Moneycontrol

Software testing is not what it was decade ago. In the last few years, it has transformed and has become part of boardroom conversations thanks to shift in new age technologies.

Srikanth Chakkilam, Chief Executive Officer, Cigniti Technologies, a specialised testing firm, told Moneycontrol that with the shift to new age testing areas there is a need for reskilling in this space as people will have to code and have knowledge of scripting language such as Python. 

Specialised testing includes automation, cybersecurity, cloud migration and blockchain. According to a NelsonHall, overall software testing market and specialised testing services would touch $48 billion and $30 billion by 2023, a growth of 5.6 percent per annum.

Automation testing

This a method of software testing that is used to automate repetitive and other testing tasks that are difficult to perform manually. This is done by using automation scripts or using automation tools.

It is one of the fastest growing markets and at the back of COVID-19, this is likely to grow further as companies look to cut cost. According to a report by Markets and Markets, automation testing market is estimated to touch $28.8 billion by 2024, growing at a compounded annual growth rate (CAGR) of 18 percent. The market size currently is about $12.6 billion.

According to Payscale, an automation engineer with up to four years of experience can earn about Rs 4 lakh to Rs 5 lakh per annum.

Cloud migration testing

Given the pace at which companies are adopting cloud, cloud migration testing could gain traction. This test is done to ensure that after migrating to cloud, there is no loss of data and all aspects of the application, both functional and non-functional, are intact. According to an Infosys blog, such testing is necessary to confirm that the performance of the website is unaffected or improves when compared to its earlier performance in the physical infrastructure.

An individual needs to have knowledge about cloud computing and tools such as SOASTA CloudTest. An average salary of cloud engineers is Rs 7,51,756 per annum.

Cybersecurity testing – Penetration testing/ethical hacking

remote working gaining traction, incidents of cyber threats have increased. Recently, Cognizant was attacked by a ransomware and said it could lose $50-70 million due to the attack.

Hence, cyber security testing is necessary to measure the effectiveness of a firm's cyber security strategy against an attack. It is also important to understand the vulnerabilities and guard against sophisticated attacks. For that penetration testing or ethical hacking is important.

An early stage penetration tester can earn close to Rs 5 lakh per annum. Those with over five years experience may earn as much as Rs 10 lakh per annum.

Blockchain testing

Blockchain in simple terms stores transactional data. One could imagine it as a chain of blocks with data, linked together using cryptography to make it secure.

According to Cigniti Technologies’, there are five popular tools for testing different aspects such as performance and user interface. These include Ethereum tester, BitcoinJ, Populus, Truffle and Embark.

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Cigniti Q4 net profit slips 2 pc to Rs 29.2 cr

Cigniti Technologies, an engineering and software testing services provider, on Thursday said its consolidated net profit fell 2 per cent to Rs 29.26 crore in the March 2020 quarter.

Its net profit was at Rs 29.88 crore in the year-ago period, a statement said. The company's revenue from operations stood at Rs 233.04 crore in the quarter under review from Rs 206.44 crore in the year-ago period - a growth of 13 per cent, it added. For FY20, Cigniti's net profit was at Rs 121.60 crore, while revenue was at Rs 871.97 crore.

"As we move into FY-21, entire world is engulfed with challenges created by crisis. However, this situation shall open up new opportunities and it is all about how quickly we adopt and move forward with new normal and ensure the business continuity," C V Subramanyam, Chairman and MD of Cigniti Technologies, said.

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Cigniti Technologies contributes Rs. 50 Lakhs for fighting Corona Virus (Covid-19)

30th March, 2020, Hyderabad: Hyderabad based Cigniti Technologies, Leaders in Software Testing Services, contributed Rs. 50 Lakh to Chief Minister relief fund today, to support Government of Telangana to tackle the unprecedented situation caused by COVID-19. Cigniti’s Chairman & Managing Director, Mr. C V Subramanyam, handed over the cheque to Mr. K T Rama Rao, Minister of IT , Municipal Administration &Urban Development and Industry & Commerce, Govt. of Telangana.

Cigniti Technologies contributes 50 Lakhs for fighting Corona Virus (Covid-19)

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Cigniti Technologies Q3FY20 Revenue: Consolidated Revenue Rs. 217 crores and Net Profit Rs. 28 Cr Standalone Revenue Rs. 75 crores and Net Profit Rs. 15 Cr

Consolidated Financial Performance for Q3FY20 v/s Q3FY19 (Corresponding Year)

  • Revenue of

Rs. 216.75 crore v/s. Rs. 209.97 crore [á 3%]· EBITDA of Rs. 28.62 crore v/s. Rs. 38.70 crore

  • PAT of Rs. 28.11 crore v/s. Rs. 28.79 crore

Consolidated Financial Performance for Q3FY20 v/s Q2FY20 (Corresponding Quarter)

  • Revenue of Rs. 216.75 crore v/s. Rs. 214.60 crore [á 1%]
  • EBITDA of Rs. 28.62 crore v/s. Rs. 36.87 crore
  • PAT of Rs. 28.11 crore v/s. Rs. 35.72 crore
Consolidated Financial Performance for 9MFY20 v/s 9MFY19 (Corresponding Year)

  • Revenue of Rs. 638.93 crore v/s. Rs. 609.64 crore [á 5%]
  • EBITDA of Rs. 97.14 crore v/s. Rs. 103.61 crore
  • PAT of Rs. 92.34 crore v/s. Rs. 117.49 crore

Hyderabad, January 22, 2020: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended December 31, 2019.

The company’s Net Profit for Q3FY20 stood at Rs. 28.12 crore on a consolidated basis.

The Company’s Revenue from operations for the quarter under consideration stood at Rs. 216.75 crore as against Rs. 209.97 crore in Q3FY19 on a consolidated basis.

EBIDTA for the December quarter was at Rs. 28.62 crore and EBIDTA margin stood at 13.2%.

Other income includes net foreign exchange gain of Rs. 183.51 lakhs and net foreign exchange gain of Rs. 86.89 lakhs for the quarter and nine month ended December 31, 2019 respectively

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “This quarter our EBITDA is marginally low due to addition of manpower for commencement of new projects the billing of which commenced from Mid-November and we expect this to even out in the coming quarters. Additionally, we have made investment in sales and marketing cost which shall fuel growth in the subsequent quarters.”

Highlights for the quarter ended December 31, 2019

  • Revenue from top 5 clients contributed approximately 20.6% of the Revenue
  • Travel, Transport, Health Care & BFSI sector contributed the most to the revenue for Q3FY20
  • Revenue split geographically: North America & Canada – 84%, UK & Europe – 12%, Rest of the World 4%

About Cigniti Technologies Limited

Cigniti Technologies Limited (BSE: 534758, NSE: CIGNITITEC, www.cigniti.com), Global Leaders in Independent Quality Engineering & Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 2,500+ experienced professionals are spread across US, UK, India, Australia, and Canada. Cigniti is CMMI-SVC Level 5 (v1.3) appraised and is ISO 13485:2016, ISO 9001:2015, & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

For further information, please contact:

Sanjay Punjabi / Chintan Kotak / Raveena Shetty
Adfactors PR ltd
Mob: 9821080048 / 9920865113 / 9769539969
Email: sanjay.punjabi@adfactorspr.com
chintan.kotak@adfactorspr.com
raveena.shetty@adfactorspr.com

Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com

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Cigniti Technologies Consolidated Q2FY20 Revenue stood at Rs. 215 crores and Net Profit at Rs. 36 Cr

Consolidated Q2FY20 Revenue up by 3% to Rs. 215 Cr

 Consolidated Financial Performance for Q2FY20 v/s Q2FY19 (Corresponding Year)

  • Revenue of Rs. 214.60 crore v/s. Rs. 204.96 crore [á 5%]
  • EBITDA of Rs. 36.87 crore v/s. Rs. 37.34 crore
  •  PAT of Rs. 35.72 crore v/s. Rs. 49.52 crore

Consolidated Financial Performance for Q2FY20 v/s Q1FY20 (Corresponding Quarter)

  • Revenue of Rs. 214.60 crore v/s. Rs. 207.57 crore [á 3%]
  • EBITDA of Rs. 36.87 crore v/s. Rs. 31.64 crore
  • PAT of Rs. 35.72 crore v/s. Rs. 28.50 crore

Consolidated Financial Performance for H1FY20 v/s H1FY19 (Corresponding Year)

  • Revenue of Rs. 422.18 crore v/s. Rs. 399.67 crore [á 6%]
  • EBITDA of Rs. 68.52 crore v/s. Rs. 65.26 crore
  • PAT of Rs. 64.22 crore v/s. Rs. 88.68 crore

Hyderabad November 1, 2019: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the second quarter ended September 30, 2019.

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Cigniti Technologies wins the ‘Corporate Leader of the Year’ award at the 15th Indo-American Corporate Excellence (I-ACE) Awards

September 2019: Mr. Nitin Gadkari, Hon’ble Minister for Road Transport & Highways of India and Ministry of MSME, presented the ‘Corporate Leader of the Year’ award to Mr. C V Subramanyam Chairman & MD, Cigniti Technologies at the 15th Indo-American Corporate Excellence (I-ACE) Awards on Friday, September 20, 2019, in Mumbai. The award recognizes businesses which have served as an industry benchmark, showcased high performance, and discharged their fiduciary duties to all stakeholders effectively.

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Cigniti Technologies wins the ‘Corporate Leader of the Year’ award at the 15th Indo-American Corporate Excellence (I-ACE) Awards

Mumbai, 20th September 2019: Mr. Nitin Gadkari, Hon’ble Minister for Road Transport & Highways of India and Ministry of MSME, presented the ‘Corporate Leader of the Year’ award to Mr. C V Subramanyam Chairman & MD, Cigniti Technologies at the 15th Indo-American Corporate Excellence (I-ACE) Awards on Friday, September 20, 2019, in Mumbai. The award recognizes businesses which have served as an industry benchmark, showcased high performance, and discharged their fiduciary duties to all stakeholders effectively.

Cigniti Technologies, a global leader in independent quality engineering services, has been recognized for its significant contributions to Indo-U.S. trade. Cigniti has displayed laudable capability in delivering global business projects while enabling seamless digital transformation for its clients. This proficiency of the company has helped its clients to radically rethink their key business processes and achieve performance breakthroughs meeting their digital goals.

Speaking on the occasion, Mr. C V Subramanyam, Chairman & MD, Cigniti Technologies Ltd. said, We are happy to have won the Corporate Leader of the Year award. This award strengthens the presence of brand Cigniti in US & India and aligns with our vision and global aspirations of working with Fortune 500 companies. I extend my gratitude towards our dedicated employees and loyal customers without whom this journey would be incomplete.”

The I-ACE Awards was established in 2004 by the Indo-American Chamber of Commerce (IACC) to celebrate corporate excellence and recognizes top Indian Companies in the US and US companies in India in various categories. The award ceremony was attended by over 300 distinguished guests including representatives from the Indo-U.S. business community, IACC members, members of the American and other diplomatic communities, leading expatriates and celebrities.

About Cigniti Technologies:

Cigniti Technologies Limited, Global Leader in Independent Quality Engineering & Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 2,300+ experienced professionals are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first Independent Software Testing Services Company to be appraised at CMMI-SVC v1.3, Maturity Level 5, and is also ISO 9001:2015 & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Contact: Midhun.pingili@cigniti.com

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Cigniti Technologies (UK) Ltd. is ranked as one of the fastest growing Indian Companies in the UK.

8th Aug 2019, Hyderabad, India & London, UK: Cigniti Technologies (UK) Ltd., a wholly owned subsidiary of Cigniti Technologies Ltd. (headquartered in India), is ranked as the one of the fastest growing companies in the United Kingdom in the report titled “India meets Britain Tracker 2019” released by Grant Thornton in collaboration with Confederation of Indian Industry (CII).

Grant Thornton analysed data from almost 850 UK-incorporated limited companies that are owned directly or indirectly, or controlled, by either an Indian-incorporated parent or an Indian citizen resident outside the UK. Grant Thornton mentioned that Cigniti’s latest growth in the UK was pegged at 38.78%. Cigniti is ranked at 22 out of the 842 companies released by Grant Thornton. Cigniti Technologies (UK) Ltd. started operations in 2014.

Speaking on the occasion, Mr. Srikanth Chakkilam, CEO – Cigniti Technologies said, “This ranking shows how committed we are in strengthening our presence in the UK. We are working with several leading enterprises which are part of Global 2000 companies. Independent software testing and quality engineering services are poised to grow at a high rate in this region and Cigniti is one of the highly ranked organisation for independent quality engineering and software testing services. I am confident that we will grow multi-fold in the years to come.”

Dr. Andrew Fleming, British Deputy High Commissioner to Andhra Pradesh and Telangana, said,  “There are 842 Indian companies operating in the UK, with combined revenues of almost £48 billion and employing 104,783 people. In the last 5 years, our association with Cigniti Technologies has become more strategic. We commit to help Cigniti in all its endeavors towards their growth in the UK. Cigniti is one of the very few IT companies ranked in top 25 fastest growing Indian Companies in the UK.”

About Cigniti

Cigniti Technologies Limited (BSE: 534758, NSE: CIGNITITEC, www.cigniti.com), Global Leaders in Independent Quality Engineering & Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 2,500+ experienced professionals are spread across US, UK, India, Australia, and Canada. Cigniti is CMMI-SVC Level 5 (v1.3) appraised and is ISO 13485:2016, ISO 9001:2015, & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Contact: Midhun.pingili@cigniti.com

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Cigniti Technologies Consolidated Q1FY20 Revenue stood at Rs 207.57 crores and Net Profit at Rs. 28.50 Cr

Consolidated Q1FY20 Revenue up by 7% to Rs. 208Cr

Consolidated Financial Performance for Q1FY20 v/s Q1FY19 (Corresponding Year)

  • Revenue of Rs. 207.57 crore v/s. Rs. 194.71 crore [á 7%]
  • EBITDA of Rs. 31.64 crore v/s. Rs. 28.18 crore

Consolidated Financial Performance for Q1FY20 v/s Q4FY19 (Corresponding Quarter)

  • Revenue of Rs. 207.57 crore v/s. Rs. 206.44 crore [á 1%]
  • EBITDA of Rs. 31.64 crore v/s. Rs. 28.82 crore

Hyderabad, July 24, 2019: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the first quarter ended June 30, 2019.

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Accelerate Digital Transformation with Agile & DevOps Continuous Testing

Speakers: Diego Lo Giudice (Guest Speaker), Vice President, Principal Analyst Serving Application Development & Delivery Professionals, Forrester and, Kalyana Rao Konda, President - NA East,
Cigniti Technologies.

Abstract:
Client focused organizations need to improve user experience constantly through digital disruption. Delivering features that are relevant and useful in small increments is the high expectation of your users. To achieve this, traditional testing does not cut it. To be able to develop and release continuously, you must test continuously as well. Both speed and accuracy of testing are equally important in the context of Agile & DevOps environments. Test automation has got an important role to play to deliver quality software at high speed. There is also a need to integrate non-functional testing aspects early on in the life cycle through CI/CD implementation. Register for this webinar and join the discussion with our guest Diego Lo Giudice, VP and principal analyst from Forrester and Kalyana Rao Konda, President - NA East, Cigniti Technologies.

Why you should watch this Webinar :
As your organization embarks on its digital transformation journey, you may find it evolving at different stages of transformation. It thus becomes imperative to understand how Agile & DevOps continuous testing can assist you in the process. Watch the Cigniti & Forrester webinar to.

  • Explore ways to accelerate your digital journey
  • Discover workarounds for hurdles in digital transformation with Agile & DevOps practices
  • Find how to integrate non-functional testing aspects early in SDLC/STLC by implementing CI/CD
  • Know how Cigniti is implementing Agile & DevOps continuous testing for its digital clients

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Cigniti Technologies Consolidated FY19 Net Profit up by 358% to Rs 147 Cr

Consolidated FY19 Revenue up by18% to Rs. 816 Cr 

 Consolidated Financial Performance for FY19 v/s FY18 (Corresponding Year)

  • Revenue of Rs. 816.08 crore v/s. Rs. 693.28 crores [á 18%]
  • EBITDA of Rs. 132.77 crore v/s. Rs. 52.04 crore
  • PAT at Rs. 147.36 crore v/s. Rs. 32.17 crore

Consolidated Financial Performance for Q4FY19 v/s Q4FY18 (Corresponding Quarter)

  • Revenue of Rs. 206.44 crore v/s. Rs. 178.65 crores [á 16%]
  • EBITDA of Rs. 28.82 crore v/s. Rs. 21.23 crore
  • PAT at Rs. 29.88 crore v/s. Rs. 19.8 crore

Consolidated Financial Performance for Q4FY19 v/s Q3FY19 (Sequential Quarter)

  • Revenue of Rs. 206.44 crore v/s. Rs. 209.97 crores
  • EBITDA of Rs. 28.82 crore v/s. Rs. 38.70 crore
  • PAT at Rs. 29.88 crore v/s. Rs. 28.79 crore (refer note below)

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Cigniti Technologies Consolidated Q3FY19 Net Profit at Rs 28.79 Cr as against Q3FY18 Net Profit of Rs 8.25 Cr

Consolidated Q3FY19 Revenue clocked Rs. 210 Cr

Consolidated Financial Performance for Q3FY19 v/s Q3FY18 (Corresponding Quarter)

· Revenue of Rs. 209.97 crore v/s. Rs. 177.13 crores [á 18.5%]

· EBITDA of Rs. 38.70 crore v/s. Rs. 16.76 crore

· PAT at Rs. 28.79 crore v/s. Rs. 8.25 crore

Consolidated Financial Performance for Q3FY19 vs Q2FY19 (Sequential Quarter)

· Revenue of Rs. 209.97 crore v/s. Rs. 204.95 crores [á 2.5%]

· EBITDA of Rs. 38.70 crore v/s. Rs. 37.14 crore

· PAT at Rs. 28.79 crore v/s. Rs. 49.53 crore (refer note below)

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Cigniti Technologies consolidated net profit rises 404.89% in the September 2018 quarter

Sales rise 21.26% to Rs 204.96 crore

Net profit of rose 404.89% to Rs 49.53 crore in the quarter ended September 2018 as against Rs 9.81 crore during the previous quarter ended September 2017. Sales rose 21.26% to Rs 204.96 crore in the quarter ended September 2018 as against Rs 169.02 crore during the previous quarter ended September 2017. ParticularsQuarter EndedSep. 2018Sep. 2017% Var.Sales204.96169.02 21 OPM %18.138.26 -PBDT56.9711.57 392 PBT56.2710.89 417 NP49.539.81 405

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Cigniti Technologies Consolidated Q2FY19 Net Profit at Rs 49.53 Cr as against Q2FY18 Net Profit of Rs 9.81 Cr

Consolidated Q2FY19 Revenue clocked Rs. 204.96 Cr

Consolidated Financial Performance for Q2FY19 v/s Q2FY18 (Corresponding Quarter)

  • Revenue of Rs. 204.96 crore v/s. Rs. 169.02 crores [á 21%]
  • EBITDA of Rs. 37.14 crore v/s. Rs. 13.96 crore
  • PAT at Rs. 49.53 crore v/s. Rs. 9.81 crore

Consolidated Financial Performance for Q2FY19 vs Q1FY19 (Sequential Quarter

  • Revenue of Rs. 204.96 crore v/s. Rs. 194.71 crores [á 5%]
  • EBITDA of Rs. 37.14 crore v/s. Rs. 28.19 crore
  • PAT at Rs. 49.53 crore v/s. Rs. 39.15 crore

Hyderabad, November 12, 2018: Cigniti Technologies Limited, a global leader in independent quality engineering services, today announced the consolidated financial results for the second quarter ended September 30, 2018.

The company’s Net Profit for Q2FY19 stood at Rs 49.53 crore as against Net Profit of Rs 9.81 crore in Q2FY18.

The Company’s Revenue from operations for the quarter under consideration stood at Rs 204.96 crore as against Rs 169.02 crore in Q2FY18.

EBIDTA for the September quarter was at Rs 37.14 crore and EBIDTA margin stood at 18.1%.

Other income includes Net foreign exchange gain of Rs. 684.12 lakhs for the quarter ended September 30, 2018 (net foreign exchange gain of Rs. 566.99 lakhs for the quarter ended June 30, 2018) and export incentive of Rs. 1,646.23 lakhs pertaining to the period from April 2015 to September 2018 recognized in the current quarter based on the duty scrips grant received/receivables.

Highlights for the quarter ended September 30, 2018

  • 18 clients added during the quarter
  • Focusing on new service lines such as IoT, Artificial Intelligence, Digital and Quality Engineering to cater to enterprises across the globe.
  • Revenue from top 10 clients contributed approximately 30% of the Revenue
  • Travel, Transport & Hospitality sector contributed the most to the revenue for Q2FY19
  • Revenue split geographically: North America & Canada – 84%, UK & Europe – 11%, Rest of the World 5%

Management Commentary

Commenting on the result Mr. C V Subramanyam, Chairman & MD - Cigniti Technologies said “I am happy that we continued in delivering another quarter of performance consistent over the last few quarters. We have been optimizing our cost and delivering an enhanced EBITDA and profitability over the last five quarters.  Our revenue pipeline is robust, and we anticipate to close large enterprise deals in the coming months which shall contribute to our revenue in a significant way. Our continued performance accelerates our journey in becoming the world’s largest and most respected independent software testing and quality engineering services company.

About Cigniti Technologies Limited

Cigniti Technologies Limited (BSE: 534758, NSE: CIGNITITEC, www.cigniti.com), Global Leaders in Independent Quality Engineering & Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 2,500+ experienced professionals are spread across US, UK, India, Australia, and Canada. Cigniti is CMMI-SVC Level 5 (v1.3) appraised and is ISO 13485:2016, ISO 9001:2015, & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

For further information, please contact:

Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com

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