Press Releases

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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Cigniti Technologies Q4FY20 Revenue

Cigniti Technologies Q4FY20 Revenue:
Consolidated Revenue Rs. 233.04 crores and Net Profit Rs. 29.26 Cr
Standalone Revenue Rs. 78.65 crores and Net Profit Rs. 15.79 Cr

Consolidated Financial Performance for FY20 v/s FY19 (Corresponding Year)

  • Revenue of Rs. 871.97 crore v/s. Rs. 816.08 crore [á 7%]
  • EBITDA of Rs. 128.69 crore v/s. Rs. 132.77 crore
  • PAT of Rs. 121.60 crore v/s. Rs. 147.36 crore

Consolidated Financial Performance for Q4FY20 v/s Q4FY19 (Corresponding Year)

  • Revenue of Rs. 233.04 crore v/s. Rs. 206.44 crore [á 13%]
  • EBITDA of Rs. 31.55 crore v/s. Rs. 28.82 crore
  • PAT of Rs. 29.26 crore v/s. Rs. 29.88 crore

Consolidated Financial Performance for Q4FY20 v/s Q3FY20 (Corresponding Quarter)

  • Revenue of Rs. 233.04 crore v/s. Rs. 216.75 crore [á 8%]
  • EBITDA of Rs. 31.55 crore v/s. Rs. 28.62 crore
  • PAT of Rs. 29.26 crore v/s. Rs. 28.11 crore

Mumbai, May 7, 2020: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter and year ended March 31, 2020.

The company’s Net Profit for FY20 stood at Rs 121.60 crore as against Net Profit of Rs 147.36 crore in FY19.

The company’s Net Profit for Q4FY20 stood at Rs 29.26 crore as against Net Profit of Rs 29.88 crore in Q4FY19; a decrease of 2% Y-o-Y.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 233.04 crore as against Rs 206.44 crore in Q4FY19.

EBIDTA for the March quarter was at Rs 31.55 crore and EBIDTA margin stood at 13.5%.

The company’s Net Profit for Q4FY20 stood at Rs 29.26 crore for the quarter ended March 31, 2020 as against Rs. 28.11 crore for the quarter ended December 31, 2019; an increase of 4% Q-o-Q.

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy to announce that Cigniti Technologies Ltd. has maintained a positive growth in FY20. I would like to extend my gratitude to our dedicated employees, clients and other stakeholders for their constant support in these trying times.

“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. I am confident that industries like Healthcare, Communication, Edu-tech, Public sector, e-commerce, etc. where we have been serving enterprises will yield more revenues in the years to come” he added.

Highlights for the quarter ended March 31, 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 – 85%, UK & Europe – 11%, 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 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

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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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 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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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

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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.

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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 (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:

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

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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

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Cigniti Technologies appoints Srinath Batni as Independent Director on its Board.

27th August 2017, Hyderabad, India: Mr. Srinath Batni, global IT industry veteran, has joined the board of Cigniti Technologies Ltd. as an Independent Director. Mr. Batni was the Head of Delivery Excellence at Infosys and served on its board as a whole-time Director from May 2000 to July 31, 2014.

On this momentous occasion, Mr. C V Subramanyam, Chairman and Managing Director, Cigniti, said “Srinath’s rich experience in Delivery excellence will help us to excel in delivering projects efficiently, enhance client satisfaction, and bring in innovation. His advice will help the Cigniti Management drive further business growth. We firmly believe that his association, inputs, and strategic direction will help us further accelerate our journey towards becoming the world’s largest and most respected independent software testing services company.”

Commenting on this occasion, Mr. Srinath Batni said “As businesses are getting digitally transformed, the imminent need of delivering quality and agility together has become vital. The IP-led Quality Engineering approach of Cigniti ensures global enterprises and independent software vendors can stay ahead in the market leveraging the power of automated and intelligent software quality engineering”. He further added that “I am very happy to be a part of this exciting journey.”

Mr. Srinath Batni is a Co-Founder of Axilor Ventures. Mr. Batni served as Group Co-Head of Worldwide Customer Delivery at Infosys Limited. He served as Head-Delivery (GCARE) and Head of Strategic Groups & Co-Customer Delivery at Infosys Limited. From 1996 to 2000, he served as Senior Vice President and Head-Retail and Telecommunications Business Unit of Infosys Limited. He has been an Independent Director at AXISCADES Engineering Technologies Limited since August 08, 2014. He serves as Director of Infosys Technologies China (Shanghai) and Infosys Technologies Australia Pty Limited, subsidiaries of Infosys Technologies Ltd. Mr. Batni served as Whole-Time Director of Infosys Limited from May 2000 to July 31, 2014. Mr. Batni received a B.E. in Mechanical Engineering from Mysore University and an M.E. in Mechanical Engineering from the Indian Institute of Science, Bangalore.

About Cigniti Technologies:

Cigniti Technologies Limited (BSE: 534758, NSE: CIGNITITEC; www.cigniti.com), Global Leaders in Independent 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 2300+ software testing specialists 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, Next Generation Testing, Core Testing, and cutting edge Mobile, IoT, 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.

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Cigniti Technologies Positioned as a Strong Performer in Continuous Testing Service Providers Evaluation by Independent Research Firm

Hyderabad, India, 10 Aug 2017: Cigniti Technologies has been positioned as a Strong Performer in The Forrester Wave™: Continuous Testing Service Providers, Q3 2017. Forrester cited that Cigniti Technologies is among the top three global vendors for clients looking for independent and pure-play CT services focused on Agile DevOps.

Speaking on this achievement, Srikanth Chakkilam, CEO – Cigniti Technologies, said “This positioning from Forrester testifies our forward-looking investments into IP-led automation centric CT services. Cigniti has been investing in the areas of DevOps, Agile, and CT since the last 18-24 months and has been able to deliver significant results for diverse clients. We have observed that Global 2000 companies, software product companies, and unicorns that we are working with the world over, have realized that CT is the key in achieving complete benefits of DevOps. Our competent quality engineering experts and partnerships with leading test automation and DevOps tool vendors put us in a very strong position to meet the expectations of modern day businesses.”

Forrester in the report states: “Cigniti Technologies differentiates its pure-play CT services with a DevOps focus. Cigniti Technologies, an India-based provider of pure-play testing services with a growing presence in the US and UK, is rapidly maturing its Agile and DevOps CT services. Cigniti stands out for its IP investments in BlueSwan, a comprehensive testing services platform accelerator; in LIQE, a US testing client community growing globally; and in an innovative, machine-learning-powered tool for analyzing user experience for the airline industry. These, coupled with Cigniti’s strong, diverse engineering skills and its DevOps consulting capabilities, support Cigniti in its shift. The vendor also has solid client programs, methods, and frameworks for CT transformation consulting. It provides a breadth of CT practices and services with points of excellence in test execution automation, test environment provisioning, and testing in production.”

About Cigniti:

Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 1800+ career testers 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, Next Generation Testing, and Core Testing.

Media Contacts: Midhun.pingili@cigniti.com

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Cigniti Technologies appoints three Industry Leaders as Independent Directors on its Board.

Cigniti Technologies Ltd., a global leader in independent software testing services company, has further strengthened its board by appointing three (3) industry leaders – Mr. R.K. Agarwal, a qualified Chartered Accountant, Mr. Phaneesh Murthy, a global IT industry veteran, and Ms. Nooraine Fazal, Managing Trustee, CEO & Co-Founder of Inventure Academy, on its Board as Independent Directors.

Mr. R. K. Agarwal, aged 64 years, is a qualified Chartered Accountant and a 40 years’ experienced professional in various fields like Audit, Taxation, Company Law, Consultancy, etc. He has been a partner with S. R. Batliboi & Co. since 1978 and was the Managing Partner of the Firm at the time of his retirement in June, 2013. Mr Agarwal has been connected with various Chambers of Commerce like Confederation of Indian Industries (CII), Indian Chamber of Commerce, Bengal Chamber of Commerce and Industry, Indo-American Chamber of Commerce, Indo-Italian Chamber of Commerce, etc. as Committee Chairman/Executive Committee Member, Permanent Invitee, etc. He has served as the Chairman of Services, Economic Affairs, Company Law and Taxation Sub-Committees of CII (Eastern Region).

Mr. Phaneesh Murthy has been serving as a Non-Executive Director of Cigniti Technologies Inc, USA (100% subsidiary of Cigniti Technologies Ltd.) since 19th January 2017. Mr. Phaneesh is a business leader with 25 years of experience in structuring and managing large outsourcing deals for Fortune 500 companies whose previous roles include CEO & President of iGate Corporation and Worldwide Head of Sales and Marketing, Head of Communications, and Product Solutions Group at Infosys Ltd. Mr. Phaneesh is widely recognized as an Industry pioneer in propelling organizations to an all-round, multifold growth, and helping them reach leadership positions. He also consults for various businesses.

Ms. Nooraine Fazal has a Master of Science degree in Management from Boston University and has worked with IBM and Reuters for a period of 10 years in a front-line and managerial capacity. Post a period of introspection about the future, Ms. Nooraine returned to India in 2003 (after twelve years across the UK, USA, Middle East, Australia, and the Greater China region) in order to be a ‘citizen with a say’ in the way the country is developing.

Commenting on this, Mr. C V Subramanyam, Chairman and Managing Director of Cigniti Technologies, said that “This is a very significant development towards strengthening brand Cigniti. In line with our global aspirations, and the planned growth in the years ahead, we believe these three eminent personalities will add immense value in multiple dimensions across the company. I am confident that with their association, inputs, and constant support, we will further accelerate our journey towards becoming the world’s largest and most respected independent software testing services company.”

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Cigniti Technologies appoints Mr. Srikanth Chakkilam as the Chief Executive Officer

Cigniti Technologies has appointed Mr. Srikanth Chakkilam as the Chief Executive Officer of the company. In his new role, Srikanth will focus on developing the company strategy to be in line with the vision, mission, and the values of the organization. Srikanth has relocated to US and shall operate from Dallas office.

He will drive client acquisition strategies, provides oversight to Sales, set business targets, and ensure quality deliverables are met to the clients. He shall set the direction to the company, aligning with the markets and shall propel the company to greater heights. Srikanth is a great believer in building a sustainable forward thinking organization with a binding principle called Work = Play. He is focused to build a highly successful, impactful, and ethical business in all forms.

Prior to taking over as CEO, Srikanth was responsible for driving Sales at U.K., EU, ANZ, Middle East, and APAC regions. Further, he was directly involved with the Marketing heads in devising marketing strategies for the Company. He, along with the CFO, represented the company with investors in the public domain.

Srikanth has an MS from the University of Southern California where he was a teaching assistant to Barry Boehm, one of the legends of software engineering and quality. He holds a Graduate Degree in Electronics and Communication Engineering from India.

Speaking on the occasion, Srikanth said “I am proud to have taken over as the CEO of this Company. I thank all the Board members of Cigniti for entrusting me with such a prestigious responsibility. While I am all committed to make this organization the most respected and world’s largest independent software testing services company, I assure you that it is possible only with your support, hard work and the trust you have on us.”
“Every Organization is focusing all their energies and budgets in transforming their products and services to be digitally ready, the need to ensure software quality is taken care with highest priority. New age businesses need new age testing to deliver both quality and speed. Hence, world over Global 2000 companies, Fortune 500 companies and leading, upcoming independent software vendors, product companies and start-ups are partnering with accomplished software quality engineering and independent software testing service providers. This translates to a stated market potential of 25.9 Billion USD for the independent software testing services providers by 2020 and am very confident that we at Cigniti are well positioned to ride this wave of growth,’’ Srikanth added further.

About Cigniti:
Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing Services, is headquartered at Hyderabad, India. Cigniti’s 2200+ 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 9001:2008 & ISO 27001:2013 certified. Cigniti’s offerings include Quality Engineering, Digital Assurance, Advisory & Transformation, and Quality Assurance services powered by BlueSwan™ - the next generation proprietary software testing platform.

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Phaneesh Murthy joins the board of Cigniti Technologies Inc. as a Non-Executive Director.

Phaneesh Murthy, global IT industry veteran, who spearheaded the growth story of companies like Infosys and iGate, has joined the board of Cigniti Technologies Inc. as a Non-Executive Director.

Phaneesh is a business leader with 25 years of experience in structuring and managing large outsourcing deals for Fortune 500 companies. Phaneesh’s previous roles include CEO & President of iGate Corporation and Worldwide Head of Sales and Marketing, Head of Communications, and Product Solutions Group at Infosys Ltd. He also consults for various businesses. Phaneesh is widely recognized as an Industry pioneer in propelling organizations to an all-round, multifold growth, and helping them reach leadership positions.

On this momentous occasion, Mr. C V Subramanyam, Chairman and Managing Director, Cigniti said “Phaneesh will advise the board and work closely with the Management at Cigniti to drive the business growth. We firmly believe that his association, inputs, and strategic direction will help us further accelerate our journey towards becoming the world’s largest and most respected independent software testing services company.”

Speaking on this occasion, Phaneesh said “In today’s rapidly changing digital world, organizations are powered by Intelligent software. Companies are now leveraging DevOps to release applications on an hourly mode, instead of annual basis as was the norm just a few years ago. I am excited to be a part of the company, which is attempting to ensure this agility through its leading IP-Led software testing services.”

Media Contacts:
Lucy.dass@2020msl.com | +91-9618782706
Midhun.pingili@cigniti.com | +91- 8886093093

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