Press Releases

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 (www.cigniti.com), Global Leaders in Independent Software Testing and Quality Engineering Services, is headquartered at Hyderabad, India. Cigniti’s 2100+ 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:

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

Cigniti partners with Passbrains to offer Crowd Testing & Digital Assurance Services

Hyderabad, 11/10/18 India: Cigniti Technologies, a global leader in Independent Quality Engineering & Software testing services company, has partnered with Passbrains to offer Crowd Testing Services.

Cigniti, Global Leader in Independent Quality Engineering & Software Testing, and Passbrains, provider of enterprise crowdsourcing solutions & services for digital assurance and crowd testing, announced a partnership that will enable Cigniti’s team of verified domain testers for crowd testing to help enterprises use the services of real testers on real devices anywhere.

After nearly two years of close collaboration, Cigniti and Passbrains agreed on getting into a strategic partnership to leverage each other’s offerings to help customers in designing, testing and validating leading apps, websites and digital products. Through this strategic partnership, Cigniti further leverages the Passbrains’ global vetted community of over 50,000 user testers and testing professionals.

The new alliance aims to accelerate software innovation for enterprises and ensure an impeccable user experience for their customers. Passbrains’ rapid automated crowd staffing ability and crowd project management tools provided through their proven platform technology allow Cigniti to achieve record device coverage and turnaround times by ramping up carefully selected test participants and reporting results in a matter of hours, which are made accessible through Passbrains’ powerful online analytic tools.

Gartner predicts that by 2020, crowd testing will be a critical element in 60% of mobile application testing service engagements. Many IT service providers and global organizations already include real user research and crowdtesting in their quality assurance processes and projects. This helps accelerate their market launches and gain economies of scale for their web & mobile apps and digital devices.

“We are excited about our strategic partnership with Passbrains”, said Srikanth Chakkilam, CEO, Cigniti Technologies. “This partnership will enable both Cigniti and Passbrains to offer a complete portfolio of Quality Engineering services to our clients, delivered through a global crowdsourcing platform. It empowers us more to help improve the quality and user experience of enterprise applications, resulting in better value for our clients, globally.” 

“Cigniti’s leading market position and excellent service portfolio combined with Passbrains’ proven platform solution and long-term expertise in user research and crowd testing will enable us to deliver best-in-class digital assurance solutions to customers of both companies. This strategic collaboration is a significant step forward for our companies and will actively contribute to our mutual success!” says Dieter Speidel, CEO of Passbrains.

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 Technologies Inc., a Delaware incorporated corporation, with its principal place of business within US at Irving, Texas and King of Prussia, Philadelphia, is a wholly owned subsidiary of Cigniti Technologies Limited, India. Cigniti group’s 2100+ experienced professionals are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first IST 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, powered by Mobile, IoT, Smart Meter, Medical and Robotics labs. Having served several Fortune 500 & Global 2000 companies, Cigniti has translated its R&D into BlueSwan, the next generation and proprietary test platform. Leading Analysts like Gartner, Forrester, NelsonHall, Everest, Frost & Sullivan, and Forbes have consistently mentioned, awarded, and commended Cigniti for its leadership and growth in the independent software testing services space.

Press Contact: Midhun.pingili@cigniti.com

About Passbrains:

Passbrains is a global provider of crowdsourced digital testing solutions through a leading technology platform. With a global community of more than fifty thousand user testers and testing professionals, the company helps customers to design winning apps and digital products through user research, open innovation, design assessments, and field validation.

Passbrains operates delivery centers in Switzerland, Germany, Serbia, and India, serving global clients including fortune 500 enterprises across telecom, media & entertainment, retail, financial services, energy, automotive and other high-tech industry sectors.

Press Contact: marketing(at)passbrains.com

 

Source: https://www.passbrains.com/top/post/cigniti-partners-with-passbrains-to-offer-crowd-testing-digital-assurance-services.html

Cigniti Technologies opens new Offshore Delivery Center at Hyderabad.

17th Aug 2018, Hyderabad, India: Cigniti Technologies, a global leader in independent quality engineering services company has opened its 4th offshore delivery center at Hyderabad, today. The facility was inaugurated by Mr. C V Subramanyam, Chairman and Managing Director of Cigniti Technologies.

The new facility with 37000 sq. ft. will accommodate around 400 employees. Overall Cigniti has around 2 lakh sq. ft. of space which accommodates over 2100 employees.

Speaking on the occasion, Mr. Subramanyam said, “this new facility would further help Cigniti cater to its strategic clients which also includes companies in Fortune 500 and Global 2000, to deliver high end software Quality Engineering solutions. This is another milestone in our journey towards becoming the world’s largest and most respected independent quality engineering services company.”

About Cigniti Technologies

Cigniti Technologies Limited (BSE: 534758, NSE: CIGNITITEC; www.cigniti.com), Global Leaders in Independent Software Testing (IST) Services, is headquartered at Hyderabad, India. Cigniti Technologies Inc., a Delaware incorporated corporation, with its principal place of business within US at Irving, Texas and King of Prussia, Philadelphia, is a wholly owned subsidiary of Cigniti Technologies Limited, India. Cigniti group’s 2000+ software testing specialists are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first IST 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, powered by Mobile, IoT, Smart Meter, Medical and Robotics labs. Having served several Fortune 500 & Global 2000 companies, Cigniti has translated its R&D into BlueSwan, the next generation and proprietary test platform. Leading Analysts like Gartner, Forrester, NelsonHall, Everest, Frost & Sullivan, and Forbes have consistently mentioned, awarded, and commended Cigniti for its leadership and growth in the independent software testing services space.

Cigniti Technologies Q1FY19 Net Profit at Rs 39.15 cr as against Q1FY18 Net loss of Rs 5.68 Cr

Q1FY19 Revenue grew by 16% to Rs. 194.71 cr

Consolidated Financial Performance for Q1FY19 vs Q1FY18 (Corresponding Quarter)

  • Revenue of 194.71 crore v/s. Rs. 168.48 crore [+16%]
  • EBITDA before exceptional items of 28.18 crore v/s. Rs. (0.09) crore
  • PAT at 39.15 crore v/s. Rs. (5.68) crore

Consolidated Financial Performance for Q1FY19 vs Q4FY18 (Sequential Quarter)

  • Revenue of 194.71 crore v/s. Rs. 178.64 crore [+ 9%]
  • EBITDA before exceptional items of 28.18 crore v/s. Rs. 21.23 crore
  • PAT at 39.15 crore v/s. Rs. 19.80 crore

Hyderabad, July 31, 2018: Cigniti Technologies Limited, a global leader in independent quality engineering services, today announced the consolidated financial results for the first quarter ended June 30, 2018.

The company’s Net Profit for Q1FY19 stood at Rs 39.15 crore (Net Profit includes one-time reversal of tax provision amounting Rs 13.62 crore in Cigniti Technologies Inc, USA) as against Net Loss of Rs 5.68 crore in Q1FY18.

The Company’s Revenue from operations for the quarter under consideration stood at Rs 194.71 crore as against Rs 168.48 crore in Q1FY18.

EBIDTA for the June quarter was at Rs 28.18 crore and EBIDTA margin stood at 14.5%.

Highlights for the quarter ended June 30, 2018

  • 30 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 Q1FY19 followed by ISV and BFSI sectors
  • Revenue split geographically: North America – 84%, UK & Europe – 11%, Rest of the World 6%

Management Commentary

Commenting on the result Mr. C V Subramanyam, Chairman & MD – Cigniti Technologies said “Our performance during the quarter further accelerates our journey in becoming the world’s largest and most respected independent quality engineering services company. I am pleased with our healthy revenue growth and profitability in Q1. I would like to extend my gratitude to the dedicated employees and to our clients for their constant support. The company is confident of growing at an accelerated phase in the coming years.”

About Cigniti Technologies Limited

Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Quality Engineering Services, is headquartered at Hyderabad, India. Cigniti’s 2100+ 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:

Chintan Kotak/Sanjay Punjabi
Adfactors PR ltd
Mob: +91 9920865113/9821080048
Email: chintan.kotak@adfactorspr.com
Sanjay.punjabi@adfactorspr.com

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

Gartner Positions Cigniti Technologies as a Niche Player in 2017 Magic Quadrant for Application Testing Services, Worldwide

HYDERABAD, India & DALLAS–(BUSINESS WIRE)–Cigniti Technologies has been positioned as a Niche Player in Gartner Magic Quadrant for Application Testing Services, Worldwide. Cigniti has been positioned in the Magic Quadrant for 3 years in a row.

“This achievement reinforces our ability to provide world class IP Led testing and Quality Engineering services to clients of most sizes, helping them succeed in their Digital, Agile, and DevOps transformation initiatives. We have invested in our domain capabilities and over the years we have developed strong success stories in airlines, BFSI, high tech, retail, and energy & utilities verticals,” says Srikanth Chakkilam, CEO – Cigniti Technologies Inc.

“Cigniti adopts a client-centric approach, adapting to clients’ individual needs and their specific demands. Clients also appreciate our ability to turn around change requests fast, its customer centricity and its willingness to change in line with client demands. We have strong delivery capabilities, good timeliness on engagements, robust testing methodologies and frameworks, and high-caliber resources who are ready to go the extra mile on an engagement,” Srikanth added.

“Demand for better application quality is growing as organizations deal with pressure from digitalization and focus on customer experience.” Gartner mentioned in the Research.

The application testing service market, with a copious number of providers, is fast-growing. Both full IT services providers, and dedicated, pure-play application testing service providers coexist. Gartner is aware of about 300 companies in this market. This Magic Quadrant assesses 18 of the leading application service providers based on specified inclusion criteria.

Access the Magic Quadrant for Application Testing Services, Worldwide here.

About the Magic Quadrant
Gartner Magic Quadrant for Application Testing Services, Worldwide, Susanne Matson, Gilbert van der Heiden, 21 November 2017.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Cigniti Technologies
Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing (IST) Services, is headquartered at Hyderabad, India. Cigniti’s 2000+ career testers are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first IST 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.

Media Contacts: Midhun.pingili@cigniti.com