Press Releases

Cigniti Technologies Q1FY22 Revenue

Consolidated Revenue Rs. 264.36 crores and Net Profit Rs. 20.42 Cr
Standalone Revenue Rs. 93.88 crores and Net Profit Rs. 7.18 Cr

Consolidated Financial Performance for Q1FY22 v/s Q1FY21 (Corresponding Year)

  • Revenue of Rs. 264.36 crore v/s. Rs. 218.40 crore [ 21.0%]
  • EBITDA of Rs. 24.31 crore v/s. Rs. 36.06 crore
  • PAT of Rs. 20.42 crore v/s. Rs. 29.11 crore

Consolidated Financial Performance for Q1FY22 v/s Q4FY21 (Corresponding Quarter)

  •  Revenue of Rs. 264.36 crore v/s. Rs. 233.02 crore [ 13.4%]
  • EBITDA of Rs. 24.31 crore v/s. Rs. 33.25 crore
  • PAT of Rs. 20.42 crore v/s. Rs. 24.67 crore

Mumbai, July 23, 2021: 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, 2021.

The Company’s Consolidated Revenue from operations for the quarter under consideration grew by 13.4% to Rs. 264.36 crore as against Rs. 233.02 crore in Q4FY21.

The company’s Net Profit for Q1FY22 stood at Rs 20.42 crore as against Net Profit of Rs 24.67 crore in Q4FY21.

EBIDTA for the June quarter was at Rs 24.31 crore and EBIDTA margin stood at 9.2%.

Other income includes Net foreign exchange gain of Rs. 0.27 Cr. for the quarter ended June 30, 2021.

During the current quarter, the Group has invested in additional manpower in line with its business transformation initiatives which has affected the current quarter profitability.  The addition in manpower has reduced the offshore utilization and expected to yield revenue in the coming quarter

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy that the first quarter of the fiscal year has been successful with improved performance coupled with increased efficiency and demand. As a company, we continue to consistently implement strategies to increase our market share as well as market size. Keeping in mind the increasing demand of the industry, we have made additions to our extensive product portfolio and services and are gearing up for further enhancing our offerings in the software testing industry.

We are confident of building an even robust order book in the upcoming quarters and achieve steady growth on account of efficient order execution.”

Highlights for the quarter ended June 30, 2021

  • Revenue from top 5 clients contributed approximately 20.8% of the Revenue
  • BFSI, Travel & Transport and Retail & e-Commerce sectors contributed the most to the revenue for Q1FY22
  • Revenue split geographically: North America & Canada – 85%, UK & Europe – 9%, Rest of the World 6%

About Cigniti Technologies Limited
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 3,100+ experienced professionals are spread across US, UK, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

For further information, please contact:

Omkar Jalgaonkar / Raveena Shetty
Adfactors PR ltd
Mob: 9821080048 / 9870836138 / 9769539969
Email: omkar.jalgaonkar@adfactorspr.com
raveena.shetty@adfactorspr.com

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

Cigniti Expands Its Global Footprint with Opening of an Office in Singapore

Singapore, July 1, 2021: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing Services company, today announced the opening of their first office in Singapore. With this new expansion, Cigniti further extends its global footprint in the Asia Pacific region to meet the growing digital transformation needs of leading enterprises based in the region.

“Cigniti is recognised globally for its innovative approach to assisting enterprises in their Quality Engineering and Digital transformation initiatives leveraging proprietary IP, AI & ML driven frameworks and highly agile & DevOps development methodologies. As more and more enterprises in the Asia Pacific region look towards aligning their transformation roadmaps to leverage the benefits of next-generation technologies such as RPA, Automation, AI, Cloud and IoT, Cigniti is committed to providing customers with the insights, advisory and services they need to accelerate their digital and business transformation, and drive higher ROI from their QA initiatives”, said Nanda Padmaraju, Cigniti’s head of RoW business. “This is a key milestone for us and we are keen on investing in the region, leverage the diverse hi-tech talent available locally and help towards further strengthening the QA community in the region”, he added.

“As we looked at expanding our presence in Asia Pacific, Singapore was a natural choice as it is a global business hub, with great connectivity, technologically sophisticated infrastructure, and overall a very supportive business ecosystem and government,” said Srikanth Chakkilam, CEO, Cigniti.

We already are working with several leading enterprises in Singapore as their strategic quality engineering partner, and our new office in the heart of Singapore will enable us to be more agile and responsive to the needs of our clients in the region and serve them better.

About Cigniti: Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,900+ experienced professionals are spread across US, UK, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Access the full coverage here

 

Contact: Midhun Pingili, Director, Marketing | Midhun.pingili@cigniti.com | www.cigniti.com

Cigniti Technologies Q4FY21 Revenue

Cigniti Technologies Q4FY21 Revenue:
Consolidated Revenue Rs. 233.02 crores and Net Profit Rs. 24.67 Cr
Standalone Revenue Rs. 84.65 crores and Net Profit Rs. 12.93 Cr

Consolidated Financial Performance for FY21 v/s FY20 (Corresponding Year)

  • Revenue of Rs. 896.53 crore v/s. Rs. 871.97 crore [á 3%]
  • EBITDA of Rs. 145.47 crore v/s. Rs. 128.69 crore
  • PAT of Rs. 105.35 crore v/s. Rs. 121.60 crore

Consolidated Financial Performance for Q4FY21 v/s Q4FY20 (Corresponding Year)

  • Revenue of Rs. 233.02 crore v/s. Rs. 233.04 crore [á 0%]
  • EBITDA of Rs. 33.25 crore v/s. Rs. 31.55 crore
  • PAT of Rs. 24.67 crore v/s. Rs. 29.26 crore

Consolidated Financial Performance for Q4FY21 v/s Q3FY21 (Corresponding Quarter)

  • Revenue of Rs. 233.02 crore v/s. Rs. 223.90 crore [á4%]
  • EBITDA of Rs. 33.25 crore v/s. Rs. 31.94 crore
  • PAT of Rs. 24.67 crore v/s. Rs. 26.35 crore

Hyderabad, April 29, 2021: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended March 31, 2021.

The company’s reported Net Profit for Q4FY21 stood at Rs 24.67 crore as against Net Profit of Rs 26.35 crore in Q3FY21.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 233.02 crore as against Rs 223.90 crore in Q3FY21.

EBIDTA for the March quarter was at Rs 33.25 crore and EBIDTA margin stood at 14.3%.

In Q4FY21 the Board of Directors recommended dividend of Rs. 2.50/- per share on face value of Rs. 10/- each, subjected to the approval of shareholders in the Annual General Meeting of the Company.

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, I am happy to announce that we delivered a good performance for Q4 and year ended FY21 which is in line with our goals. Even with COVID-19 disrupting the economy, we were able to lay a strong foundation and consolidate our position.”

“We continued to generate a positive cash flow. I am happy that the board recommended maiden dividend of 25% and as a part of prudent governance we have also approved a dividend policy for the benefit of the investors. The company has entered the new financial year with a healthy sales run rate and a good order book position and is confident of marching ahead positively in the coming years”, he added.

Highlights for the quarter ended March 31, 2021

  • Revenue from top 5 clients contributed approximately 21.0% of the Revenue
  • BFSI, Retail & e-Commerce and Travel & Transport sectors contributed the most to the revenue for Q4FY21
  • Revenue split geographically: North America & Canada – 89%, UK & Europe – 7%, 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:

Omkar Jalgaonkar / Raveena Shetty
Adfactors PR ltd
Mob: 9821080048 / 9870836138 / 9769539969
Email: omkar.jalgaonkar@adfactorspr.com
raveena.shetty@adfactorspr.com

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

Cigniti Technologies appoints Jayabrata Nag as VP & Global Head of Partnership and Alliances

Cigniti Technologies appoints Jayabrata Nag as VP & Global Head of Partnership and Alliances

Dallas, April 8, 2021: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing services company, today announced the appointment of Jayabrata Nag as their Vice President and Global Head of Partnership and Alliances, responsible for building strategic partnerships that contribute to the overall growth and expansion of the company.

Jayabrata comes with 22 years of experience as an accomplished partnership, strategy, marketing and business development leader with a proven track record in leading high-impact strategic initiatives across global markets. When engaging Fortune 500 enterprises as well as born-digital start-ups, he focuses on enterprise IT products and services addressing Digital transformations, Data and Analytics led competitive advantages, Hyperautomation benefits, experience enrichment through Conversational Computing with AI driven NLP, Cybersecurity, and Hybrid Cloud technologies. He has delivered strong consistent results for global IT leaders such as HCL Technologies and Infosys across multiple verticals including BFSI, Healthcare, Life Sciences, Media & Entertainment, Education, and other industries.

Announcing on Jayabrata’s appointment, Srikanth Chakkilam, CEO at Cigniti said, “at Cigniti, we have been working with several leading tool vendors to offer better solutions to our clients. The hiring of Jayabrata is a strategic one as we aim to institutionalize the partnerships with these vendors that would help exponential business growth. We have also identified few business partners based on growth and long-term strategy of the company to generate revenue through these channels by building capability and GTM plans.”

Jayabrata holds an MBA in Marketing from IMI, New Delhi, India.

About Cigniti: Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,700+ experienced professionals are spread across US, UK, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Contact: Midhun.pingili@cigniti.com

Cigniti Technologies Q3FY21 Revenue

Consolidated Revenue Rs. 223.90 crores and Net Profit Rs. 26.35 Cr
Standalone Revenue Rs. 78.69 crores and Net Profit Rs. 12.77 Cr

Consolidated Financial Performance for Q3FY21 v/s Q3FY20 (Corresponding Year)

  • Revenue of 223.90 crore v/s. Rs. 216.75 crore [á 3.3%]
  • EBITDA of 31.94 crore v/s. Rs. 28.62 crore
  • PAT of 26.35 crore v/s. Rs. 28.11 crore
  • Current year PAT is after full taxation

Consolidated Financial Performance for Q3FY21 v/s Q2FY21 (Corresponding Quarter)

  • Revenue of 223.90 crore v/s. Rs. 221.20 crore [á1.2%]
  • EBITDA of 31.94 crore v/s. Rs. 44.21 crore
  • PAT of 26.35 crore v/s. Rs. 25.22 crore
  • Current year PAT is after full taxation. Q2FY21 PAT is after onetime tax adjustment of Rs 8.95 crores on account of tax assessment for earlier years of US subsidiary Cigniti Technologies Inc.

Consolidated Financial Performance for 9MFY21 v/s 9MFY20 (Corresponding Year)

  • Revenue of 663.50 crore v/s. Rs. 638.93 crore [á 3.8%]
  • EBITDA of 112.21 crore v/s. Rs. 97.14 crore
  • PAT of 80.68 crore v/s. Rs. 92.34 crore
  • 9M’FY21 PAT is after onetime tax adjustment of Rs 8.95 crores on account of tax assessment for earlier years of US subsidiary Cigniti Technologies Inc.; Net profit before taxes for earlier years stood at Rs 110.78 crores.

Mumbai, January 28, 2021: 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, 2020.

The company’s reported Net Profit for Q3FY21 stood at Rs 26.35 crore as against Net Profit of Rs 25.22 crore in Q2FY21.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 223.90 crore as against Rs 221.20 crore in Q2FY21.

EBIDTA for the December quarter was at Rs 31.94 crore and EBIDTA margin stood at 14.3%. Reduction in EBITDA is on account of rollback of payroll cut which was in force for the H1’FY 2020-21.

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, Q3FY21 has been a successful quarter for the company with promising numbers and sustained growth. We plan on capitalizing on this momentum going forward. The COVID-19 pandemic led to technological disruptions, thus paving the way for us towards investment and growth opportunities. I would like to extend my gratitude to our dedicated employees, clients and customers for their unwavering support in these challenging times. For the coming quarter we expect the Union Budget to positively have provisions to incentivize the IT and Technology sector. Overall, I feel the next phase of implementation will only take place once the industry has settled down and assessed the overall impact of the pandemic.”

Highlights for the quarter ended December 31, 2020

  • Revenue from top 5 clients contributed approximately 22.2% of the Revenue
  • BFSI, Retail & e-Commerce and Travel & Transport sectors contributed the most to the revenue for Q3FY21
  • Revenue split geographically: North America & Canada – 88%, UK & Europe – 7%, Rest of the World 5%

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.

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

Cigniti signs up as a Medecision Liberation Strategic Partner

Dallas, January 20, 2021: Cigniti Technologies, a global leader in independent quality engineering and software testing services, is now a Liberation Strategic Partner with Medecision, an integrated health management company supporting virtual care and digital health for more than 50 million healthcare consumers. Through Medecision’s partnership program, Cigniti is able to showcase their brand among many of the most respected leaders and enterprises in healthcare today.

Speaking on this occasion, Pradeep Govindasamy, President and CTO of Cigniti, asserted, “We are excited to start our association with Medecision as a Liberation Strategic Partner, especially during the pandemic when the need to digitally transform the healthcare sector has become a compulsion, rather than a choice.  The adoption of next-gen technologies, big data analytics and business intelligence is helping virtual health achieve its goal of revolutionizing healthcare delivery by making processes more efficient and cost-effective. Cigniti’s quality engineering approach and robust next-gen testing services will help our healthcare customers achieve a seamless experience. Our rich expertise and dedicated centers of excellence (CoEs) for healthcare and life sciences software testing helps address vulnerabilities and implement guidelines and best practices to ensure compliance.”

Rick Koloski, Group Senior Vice President, Chief Architect, Engineering, Architecture & IT Operations at Medecision, said, “Cigniti provides Medecision with comprehensive quality assurance and software testing, ensuring that our customers are using solutions that have been thoroughly tested and will make them as successful as possible. We are pleased to welcome Cigniti as a Liberation Strategic Partner and highlight their quality work.”

Medecision Liberation Strategic Partners are industry leaders that offer exceptional value through their solutions and services. This approach to connecting top companies with leading health plan and care delivery organizations helps ensure engagement on a broad spectrum across enterprises in the healthcare sector.

About Cigniti: Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across the US, UK, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organisations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality EngineeringAdvisory & TransformationDigital Assurance, and Quality Assurance solutions.

About Medecision: Medecision liberates healthcare with a tech-first, care next approach to virtual care and digital health. Aerial™, our robust, SaaS-based integrated health management platform, uses the power of consumer care intelligence to define next-best actions and send them via social-mobile and business workflow systems to the consumer, his or her family and care team members. Our Aveus division brings strategic and execution clarity to clients who are transforming to new levels of business performance. At Medecision, we power the systems that power care.

Access the full coverage here

Contacts
Midhun Pingili, midhun.pingili@cigniti.com

Cigniti Technologies Announces Partnership with Sonatype, Extends AppSec Offering with Best-in-Class Software Composition Analysis

With the Sonatype Nexus platform, Cigniti now helps customers shift left and automate open source security at every stage of the software development lifecycle

Hyderabad - 6th Jan, 2021. Cigniti Technologies, a global leader in independent quality engineering and software testing services, today announced a partnership with Sonatype, the company that scales DevOps through open source governance and software supply chain automation, to help enterprise customers innovate faster and easily mitigate security risk inherent in open source.

By partnering with Sonatype, Cigniti is able to offer its clients the powerful Nexus platform, in turn, enabling them to automatically enforce open source governance and control risk across every phase of the software development lifecycle (SDLC). Fueled by Nexus Intelligence, which includes in-depth security, license, and quality information on more than 100M open source components across dozens of ecosystems, the Nexus platform precisely identifies open source risk and provides expert remediation guidance, empowering developers to innovate faster. Only Nexus secures the perimeter and every phase of your SDLC, including production, by continuously monitoring for new risk based on your open source policies.

“As experts in continuous delivery, Cigniti has worked hard to help its customers implement a mature DevSec pipeline. As such, many of our global customers have inquired about software composition analysis to help protect their toolchains, said Pradeep Govindasamy, CTO & President at Cigniti Technologies. “Partnering with Sonatype, who has the in-depth, precise intelligence around open source vulnerabilities, allows us to offer an ever-deeper sense of security to our customers. There is a clear synergy between Sonatype and Cigniti to create a successful partnership.”

Sonatype’s platform provides myriad of benefits to its users, that enable them to focus on innovating, and harnessing the power of open source, rather than worrying about its risk. For instance customers see:

  • 99% reductions in time spent reviewing and approving OSS components
  • 26x faster identification and remediation of OSS vulnerabilities
  • 70% smaller windows of exploitability from adversary attacks on OSS components
  • 20x faster searches and downloads of OSS components by developers

"Sonatype has been working with global enterprise customers for over a decade to identify and mitigate millions of security vulnerabilities and protect their software supply chains," said Wai Man Yau, General Manager International, Sonatype. "Through our partnership with Cigniti, we'll be able to further enhance DevSecOps in new regions, providing customers with the continued automated security features they need to build secure software."

Additional Resources
To learn more about how Cigniti or Sonatype can help your organisation build safe, secure, high quality software, visit https://www.sonatype.com/nexus-lifecycle and https://www.cigniti.com/

About Cigniti Technologies:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across the UK, US, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organisations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

About Sonatype:
Sonatype is the leader in software supply chain automation technology with more than 350 employees, over 1,200 enterprise customers, and is trusted by more than 10 million software developers. Sonatype’s Nexus platform enables DevOps teams and developers to automatically integrate security at every stage of the modern development pipeline by combining in-depth component intelligence with real-time remediation guidance. For more information, please visit Sonatype.com, or connect with us on Facebook, Twitter, or LinkedIn

Access the full coverage here

Contacts
Midhun Pingili, midhun.pingili@cigniti.com

Cigniti positioned as a ‘Niche player’ in Gartner 2020 Magic Quadrant for Application Testing Services, Worldwide

December 14, 2020 08:00 AM Eastern Standard Time

DALLAS--(BUSINESS WIRE)-Cigniti Technologies, a global leader in independent quality engineering and software testing services, today announced that it has been as positioned as a ‘Niche Player’ in the December 2020 Gartner, Inc. Magic Quadrant for Application Testing Services, Worldwide. This is the 6th consecutive year Cigniti has been positioned in this Magic Quadrant.

Gartner is aware of about 300 providers offering application testing services globally, but these providers are not the complete marketplace. The Magic Quadrant assesses 20 of the service providers offering testing services including consulting services, implementation, integration and managed services, based on specified inclusion criteria.

According to Gartner, “The demand for intelligent and highly automated testing services is driven by the need for continuous quality excellence at a lower cost. This report guides sourcing, procurement and vendor management leaders in making better sourcing decisions when selecting application testing service providers.”

Many of the world’s largest and most innovative companies turn to Cigniti to get assistance on accelerating their digital transformation efforts and obtaining higher returns on their investments into Quality Engineering initiatives. Cigniti has a strong application testing expertise and uses its portfolio of testing IP, including its core testing platform, BlueSwan. Cigniti leverages its test automation accelerators, industry accelerators and testing labs within mobile, IoT, medical devices and robotics, as well as its COEs in enterprise application platforms (such as Oracle, SAP and Salesforce), RPA, cybersecurity, and specialized testing areas like performance, mobile and test data management for delivering customer-centric quality assurance services.

This year, Cigniti also received 5-star reviews and has been rated by its enterprise customers a 4.8 out of 5 on Gartner Peer Insights for Application Testing Services, Worldwide based on 43 ratings in the last 12 months. Cigniti received the highest number of ratings across all providers in the application testing services category.

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti, said, “To us, getting consistently positioned in the Magic Quadrant and great feedback on Gartner Peer Insights stands testament to the faith large enterprise clients have placed on us in driving quality engineering initiatives for them. Our focus on delivering value through proprietary IP and client centricity has helped us gain this trust and recommendations from our clients.”

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

About Gartner Magic Quadrant

Gartner disclaimer

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.

Gartner Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across the UK, US, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Access the full coverage here

Contacts
Midhun Pingili, midhun.pingili@cigniti.com

DGCX Selects Cigniti Technologies as Strategic Quality Assurance Service Provider

Dubai, December 10, 2020: The Dubai Gold and Commodities Exchange (DGCX), has selected Cigniti Technologies - a global leader in independent quality engineering and software testing services - as its strategic Quality Assurance service provider as the Exchange seeks to upgrade its technology platform.

Cigniti will provide the DGCX Group with quality testing on a number of marketplace solutions that will replace applications currently used by DGCX. This will include functions such as real-time trading and clearing, pre-trade risk management, market intelligence, surveillance and quality assurance.

Cigniti’s testing services will enable the DGCX Group to ‘acceptance test’ the applications – covering both functional and non-functional testing – and reduce the amount of overall time and effort expended on testing.

Speaking on this occasion, Srikanth Chakkilam, CEO at Cigniti Technologies, said: “We are excited to partner with the UAE region’s largest commodity derivatives exchange – DGCX. This would further strengthen our position in the financial services market. The capital markets are based on real-time data and are increasingly complex. The introduction of digital technologies has brought in advanced practices and further encouraged new segment of investors and traders. Convenience, speed, reliability, security and efficiency are key to create a transparent and open environment. This requires an end-to-end testing of digital applications for the better performance and user experience.”

Les Male, CEO at DGCX Group, said: “Innovative digital solutions form a key part of the DGCX's efforts to maintain operational excellence and continue to deliver unparalleled efficiencies. Nowhere is this more evident than in our technology agreement with Nasdaq Market Technology, which is ultimately aimed at enabling us to provide our members as well as their clients with increasingly sophisticated levels of service performance. Our most recent announcement of Cigniti as our strategic quality assurance provider reinforces these efforts. We are confident that these agreements and subsequent testing will ultimately provide an improved user experience for our members, which are at the heart of every decision that we make.”

Cigniti’s dedicated FinTech Domain Competency Group concentrates on testing complex real-time digital applications. Cigniti’s 90+ BFS clients include 3 Fortune 500 banks and is led by more than 300 domain and technology experts.

With these partnerships , DGCX continues to be the leading commodities derivatives exchange in the Middle East, serving both the Middle Eastern and the global capital markets.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across UAE, USA, UK, Australia, Canada, India, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

Access the full coverage here

Contact:
Midhun.pingili@cigniti.com

Cigniti Technologies appoints Ganesh Ramamoorthy as Chief Revenue Officer

Texas, 2nd December 2020: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing services company, today announced the appointment of Ganesh Ramamoorthy as their Chief Revenue Officer (CRO), responsible for Global Sales, Marketing, and Customer success.

Ganesh comes with over 28 years of experience as a technology leader with a proven track record of building global digital transformation business across industry verticals. Prior to joining Cigniti, Ganesh spent 20 years at HCL, led strategic relationships with Fortune 100 enterprise clients in Financial Services and Technology verticals and developed significant revenue streams across international markets. He also led the transformation of horizontal technology services offerings to consumer industry focused on digital and platform offerings in high growth markets.

Announcing Ganesh’s appointment, Srikanth Chakkilam, CEO, Cigniti Technologies, said “We’re happy to welcome Ganesh into our team. As we pivot towards building a fast-growing digital transformation services organization with a Quality-first culture, Ganesh’s rich experience will be immensely helpful to lead Cigniti through our next stage of growth.”

Ganesh is a Mechanical Engineering Graduate from the College of Engineering, Guindy, Chennai, and holds an MBA from IIM Calcutta.

About Cigniti: Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across US, UK, Canada, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality EngineeringAdvisory & TransformationDigital Assurance, and Quality Assurance solutions.
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.

Access the full coverage here

Contact: Midhun.pingili@cigniti.com

Cigniti Technologies is now a proud Underwriter of PhillyCIO

PHILADELPHIA - (BUSINESS WIRE) - Cigniti Technologies, a global leader in independent quality engineering and software testing services, is now a strategic Underwriter of PhillyCIO, a local arm of the InspireCIO Leadership Network. Together, they regularly convene leading CIOs, foster meaningful relationships and help CIOs thrive in today’s most challenging C-suite executive role.

As an Underwriter of PhillyCIO , Cigniti would be part of InspireCIO programs such as CIO Philadelphia Advisory Board Meetings, PhillyCIO Awards Nominee Event, PhillyCIO Awards Finalist Event, CIO Only Programs, CIO Wine Experience, and Philadelphia CIO of the Year ORBIE Awards and for the promotions purposes by leveraging the key resources to support the expansion.

Speaking on this association, Kalyan Rao Konda, President at Cigniti Technologies, said, “We are excited to be part of this association which brings together the CIOs across industries of Philadelphia. This association would help understand from the CIOs themselves the innovation and technology trends. This platform provides an opportunity for Cigniti to share the latest innovation and best practices related to Quality Engineering.”

Jen Wise, Executive Director of PhillyCIO, said, “We are thrilled to have Cigniti joining PhillyCIO as an Underwriter of the chapter. As an Underwriter, Cigniti will play an essential role in helping to connect local CIOs with their peers through year-round, non-commercial chapter programs and recognizing deserving Philadelphia-based CIOs through the annual PhillyCIO of the Year ORBIE Awards. Cigniti’s support of these programs provides ongoing opportunities to foster relationships among top CIOs. We look forward to working together to serve and celebrate the PhillyCIO community.”

InspireCIO programs are made possible through the corporate support of strategic partners known as Underwriters. These organizations represent the highest-level investors in local chapters and the senior executives of Underwriter organizations are regarded as peers by the CIOs serving on Advisory board of Philadelphia.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across US, Canada, UK, Australia, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

About PhillyCIO
PhillyCIO is the preeminent peer leadership network for Philadelphia chief information officers. PhillyCIO membership is comprised exclusively of CIOs (or equivalent executive roles) from public and private companies, government, education, healthcare and non-profit organizations.

PhillyCIO is led by a CIO Advisory Board which sets the annual program agenda for the association. Events are facilitated by a full-time Executive Director and professional staff. PhillyCIO events are CIO-led and attended solely by CIO-level executives.

Access the full coverage here

Contacts
Midhun Pingili, Midhun.pingili@cigniti.com

Toyota Motor Corporation Australia Selects Cigniti Technologies as a Strategic Quality Engineering Partner

MELBOURNE, Australia - (BUSINESS WIRE) - Cigniti Technologies, a global leader in independent quality engineering and software testing services, is now a strategic Quality Engineering panel vendor for Toyota Motor Corporation Australia (TMCA), a subsidiary of Toyota Motor Corporation, to help accelerate its Quality & Digital transformation journey over the next 3 years.

Speaking on the occasion, Srikanth Chakkilam, CEO at Cigniti Technologies, said: “It is exciting and a proud moment for all of us at Cigniti to serve a leading automobile company. In this IOT enabled future of connected and autonomous vehicles, Technology will disrupt the entire automobile value chain. Software is going to greatly influence the future of the automobile industry. Digital transformation in the automobile industry will take place in the future across the value chain from the connected supply chain and manufacturing, to providing a virtual experience in the car buying process, Car Mobility as a Service, and autonomous driving. It is very important to ensure that high quality software will enhance the customer experience.”

Cigniti has been working with Toyota Australia since 2017. This new agreement with Cigniti will assist Toyota in increasing its automation cadence by achieving test automation and non-functional testing goals across multiple digital platforms.

Cigniti Australia has enabled over 80 organisations from Airlines, Government agencies, Banking and Financial Services, Insurance, Healthcare, Energy & Utilities and Manufacturing sectors in their software testing and quality assurance transformation journey in the past 6 years.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across Australia, UK, US, Canada, India, UAE and South Africa. We are a strategic quality engineering partner for leading global organisations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions. 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.

Access the full coverage here

Contacts
Mr. Midhun Pingili
midhun.pingili@cigniti.com

Cigniti’s Kalyana Rao Konda Joins the Board of Philadelphia Alliance for Capital and Technologies (PACT)

PHILADELPHIA - (BUSINESS WIRE) - Philadelphia Alliance for Capital and Technologies (PACT), an Affiliate of the Chamber of Commerce for Greater Philadelphia (The Chamber), inducted Kalyana Rao Konda, President at Cigniti Technologies into its board of directors, earlier this month.

Kalyana Rao Konda (Kalyan) is the President at Cigniti. He drives business growth and ensures client success for Cigniti and wears multiple hats including operational planning, sales management, marketing, partnership alliances, customer success, designing custom solutions and ensuring great service delivery. Kalyan is a thought leader in the Quality Engineering space, has been a speaker at multiple industry forums and has a patent pending at USPTO for intelligent test scenario generation.

As a founding board member at PACT, Kalyan would work closely with PACT team to build a strong community in the region that is focused on collaboration and growth. PACT intends to become the go-to resource for fast growing companies and a driver of entrepreneurship and innovation in the Philadelphia region. Cigniti Technologies, global leader in Software Quality Engineering and Quality Assurance, has joined hands with PACT in this mission by becoming a Founding Leader of the alliance.

Speaking on this occasion, Kalyana Rao Konda, President at Cigniti Technologies, said, “I am very excited to be on the board of the PACT. I look forward to working with peer industry leaders, fellow members, and the PACT team to bring in greater collaboration, thought leadership and assist businesses and tech enthusiasts from multiple industries in the next generation trending technologies, various business models, first-hand experiences, and many more aspects of the tech-business transformation in the Philadelphia region.”

“We are excited to welcome Kalyan to the PACT Board of Directors. His experience and expertise will add tremendous value to our mission and strategic goals,” said Dean Miller, President and CEO of PACT. “Our Board’s dedication helps PACT provide and expand top notch programs and services to strengthen and grow our entrepreneurial community inclusively by addressing access and equity,” he added.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across US, Canada, UK, India, Australia, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings are Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance solutions.

About PACT: PACT – Philadelphia Alliance for Capital and Technologies provides our members with valuable content and connections to capital, coaching, customers, and talent that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region.

Access the full coverage here

Contacts
Midhun Pingili
Midhun.pingili@cigniti.com

Cigniti Technologies is now a proud Underwriter of HoustonCIO

Houston, 22nd Oct 2020: Cigniti Technologies, a global leader in independent quality engineering and software testing services, is now a strategic Underwriter of HoustonCIO, a local arm of the International CIO Leadership Association (ICLA). Together, they intend to foster technology innovation, help Houston IT community become aware of the best practices and trends being implemented, and bring together the CIOs of Houston to a single platform.

As an Underwriter of HoustonCIO association, Cigniti would be a part of the Inspire CIO programs such as HoustonCIO Advisory Board Meetings, Nominee Events, Finalist Events, CIO Only Programs, the Wine Experience, and the Houston CIO of the Year ORBIE Awards and support its expansion by promoting and leveraging key resources.

Speaking on this association, Pradeep Govindasamy, President & CTO at Cigniti Technologies, said, “We are excited to be a part of this association with HoustonCIO, which brings together the CIOs across industries of Houston. This association would not only help understand the CIOs’ perspective about innovation, technology trends and the best practices being implemented across the verticals, but will also help the IT community of Houston to learn about the new generation technology leaders and their contributions via a vast leadership network on a single platform."

InspireCIO programs are made possible through the corporate support of strategic partners known as Underwriters. These organizations represent the highest-level investors in local chapters and the senior executives of Underwriter organizations are regarded as peers by the CIOs serving on the HoustonCIO Advisory Board.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across Australia, UK, US, Canada, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation.

About the Houston CIO Leadership Association:
HoustonCIO is the preeminent professional association for Houston chief information officers. It is a peer-based approach to helping CIOs maximize their leadership effectiveness, create value, reduce risk and share success. Our membership is comprised exclusively of CIOs (or equivalent executive roles) from public and private companies, government, education, healthcare and non-profit organizations.

For further details, please contact: Midhun.pingili@cigniti.com

Cigniti Technologies is now a proud Underwriter of CharlotteCIO

Charlotte, 22nd Oct 2020: Cigniti Technologies, a global leader in independent quality engineering and software testing services, is now a strategic Underwriter of CharlotteCIO, a local arm of the International CIO Leadership Association (ICLA). Together, they intend to foster technology innovation, help Charlotte IT community become aware of the best practices and trends being implemented, and bring together the CIOs of Charlotte to a single platform.

As an Underwriter of CharlotteCIO, Cigniti would be a part of the InspireCIO programs such as CharlotteCIO Advisory Board Meetings, Nominee Events, Finalist Events, CIO Only Programs, the Wine Experience, and the Charlotte CIO of the Year ORBIE Awards and support its expansion by promoting and leveraging key resources.

Speaking on this association, Pradeep Govindasamy, President & CTO at Cigniti Technologies, said, “We are excited to be a part of this association with CharlotteCIO, which brings together the CIOs across industries of Charlotte. This association would not only help understand the CIOs’ perspective about innovation, technology trends and the best practices being implemented across the verticals, but will also help the IT community of Charlotte to learn about the new generation technology leaders and their contributions via a vast leadership network on a single platform."

InspireCIO programs are made possible through the corporate support of strategic partners known as Underwriters. These organizations represent the highest-level investors in local chapters and the senior executives of Underwriter organizations are regarded as peers by the CIOs serving on the CharlotteCIO Advisory Board.

About Cigniti:
Cigniti Technologies is a Global Leader in Independent Quality Engineering & Software Testing services. Cigniti’s 2,500+ experienced professionals are spread across US, Canada, Australia, UK, India, UAE, and South Africa. We are a strategic quality engineering partner for leading global organizations and assist them in accelerating time-to-market by predicting and preventing unanticipated failures, leveraging AI-driven, proprietary Continuous Testing & Test Automation solutions, with customer-centricity at the core of the transformation. Our test offerings include QE, Advisory & Transformation, Digital Assurance, and QA solutions.

About CharlotteCIO:
CharlotteCIO is the preeminent professional association for Charlotte chief information officers. It is a peer-based approach to helping CIOs maximize their leadership effectiveness, create value, reduce risk and share success. Our membership is comprised exclusively of CIOs (or equivalent executive roles) from public and private companies, government, education, healthcare and non-profit organizations.

For further details, please contact: Midhun.pingili@cigniti.com

London based BABB partners with Cigniti Technologies for software testing of their cryptocurrency platform

London based BABB partners with Cigniti Technologies for software testing of their cryptocurrency platform

London, 1st Oct 2020: BABB, the blockchain banking and fundraising challenger partners with Cigniti Technologies to leverage its cutting-edge Quality Engineering expertise.

The BABB business model is primarily delivered via their mobile apps. BABB wanted to ensure their application is highly secure, provides the best user experience and keeps pace with changing market conditions. This demanded an intense and structured approach to testing across devices and platforms (iOS and Android).

Cigniti leveraged it’s proven mobile quality engineering methodology to perform both functional and non-functional testing of the BABB mobile app. The team executed user acceptance testing of the key user journeys that includes multiple functionalities and features. Cigniti also performed security testing in the form of dynamic application security testing, mobile application security testing and API security testing.

Speaking on the occasion, Srikanth Chakkilam, CEO of Cigniti Technologies said, “We are excited to be a part of BABB’s journey and look forward to growing in the space of cryptocurrency. Blockchain is being implemented across industries that will impact our day-to-day lives. It becomes imperative for organisations to pay heed to the quality and testing needs of these technologies.”

On this journey with Cigniti, Grant Van Wyk, CTO of Babb stated, “The current ‘unbanked’ world market of approximately 2 billion people represents a $380B untapped industry. Our launch in the UK is just the beginning. To be able to scale up and grow rapidly it was crucial to have an independent specialist ensure the quality of our platforms. Cigniti has demonstrated the steep learning curve and agility required to test such a platform.”

About BABB
BABB, a company that aims to become the World Bank for the Micro-Economy, stands for Bank Account Based Blockchain. It offers a hybrid decentralised financial service system using a utility ERC-20 token on the Ethereum network. Their vision is to increase businesses on a global scale by improving financial support in communities, help improve living conditions, and have an overall impact on countries and the global economy especially those underserved by traditional financial systems.

About Cigniti
Cigniti Technologies is a Global Leader in Independent QE & Software Testing Services. Cigniti’s 2,500+ experienced professionals are spread across the USA, UK, Europe, Canada, India, Dubai, Australia and South Africa. Cigniti’s test offerings include QE, Advisory & Transformation, Digital Assurance, and QA solutions.

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

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

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

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)