Press Releases

09 Mar

Cigniti’s Digital Assurance Leadership capabilities recognized

NelsonHall positions Cigniti as a Leader in AI & Cognitive Testing, Quality Engineering, Continuous Testing and Application Security Testing in NEAT 2022

High Achiever in Cloud Migration Testing and Major Player in UX testing.

Dallas, TX, 9th March, 2022 – Cigniti Technologies, a global leader in providing AI-driven, IP-led, digital assurance, software quality engineering, testing and consulting services, today announced that NelsonHall has recognized Cigniti as a market leader in AI & Cognitive, Application Security Testing, Continuous Testing & overall Quality Engineering, as a High Achiever in Cloud Migration, and as a Major Player in UX testing in the Quality Engineering NEAT charts.

Speaking on the occasion, Srikanth Chakkilam, CEO – Cigniti Technologies, said, “This recognition reaffirms Cigniti’s stated goal of helping global companies become digital-first. Businesses are significantly increasing their spends towards Digital reimagination and Platformization journeys, investing in AI & Analytics, Hyper Automation, DevOps, Cloud migration, Customer experience, IOT and Quality Engineering. Digital Assurance, Business Assurance, Process Assurance and Functional Assurance are critical. They ensure that modern, secure, robust, reliable, scalable, and intuitive software becomes a strategic business enabler for digital transformation programs to be successful.”

“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. Cigniti’s AI-based script-less test automation platform – iNSta – enables building of production grade test automation suites. The test execution engine integrates with the latest CI/CD tools and cloud infrastructure to support continuous testing, leading to reduced cost of quality, and improved productivity, stability, & reliability”, Srikanth added.

Sairam Vedam, Chief Marketing Officer, Cigniti said, “The recognition will enhance Cigniti’s mindshare as a preferred digital assurance services provider and thought leader across our customers, partners, analysts, media, investors, influencers and employees. This further confirms our belief that ensuring impeccable and frictionless digital experiences leveraging digital assurance services help companies become digital-first.  Customers today are looking to leverage this expertise further. Cigniti’s proprietary platform led approach, its proven ability to deliver transformative digital experiences through a confluence of full-cycle digital assurance and automation services with a strong foundation of more than a decade in consistently serving 200+ organizations across the world is more apt than ever before.”

Dominique Raviart, IT Practice Director, NelsonHall, said “Cigniti has performed well in our 2022 QE evaluation. This reflects the company’s continued investment in its offerings and capabilities across continuous testing/DevOps, cloud application migration, AI-based analytics and automation. NelsonHall expects that Cigniti will continue its specialization around digital, cloud, and security testing.”

Access the NEAT 2022 report here.

About Cigniti

Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G assurance, customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

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. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall’s research is based on rigorous, primary research, and is widely respected for the quality, depth and insight of its analysis.

Contact:

For more details, please contact Midhun Pingili (Midhun.pingili@cigniti.com), Director - Marketing

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07 Feb

Cigniti Technologies Appoints Software Industry Leaders Vinay Rawat as CRO; Sairam Vedam as CMO

Company strengthens the leadership team to accelerate the next phase of growth.

Hyderabad, India: Cigniti Technologies, a global leader in providing AI driven, IP-led, digital assurance, software quality engineering, testing and consulting services company, announced the appointment of veteran IT and product engineering industry business leader, Vinay Rawat as Chief Revenue Officer and Sairam Vedam, an award-winning expert in global marketing, branding, corporate strategy and digital industry thought leader, as its Chief Marketing Officer.

Vinay has had an illustrious career as the CRO and Head of M&A at Infogain. At Wipro, as the SVP & Global Head - Network Equipment & Consumer Electronics BU, he was responsible for all aspects of the business of multi hundred-million-dollars.

Sairam is an accomplished marketing and strategy leader with proven expertise in creating brands of global repute in the enterprise software products and services space. Prior to Cigniti, he was the CMO for Innominds, and Kore.AI, driving them to market leadership in the digital product engineering and Enterprise Conversational AI platform space. Sairam has also worked with Pramati, Apere, CTO’s office at CA Technologies and HCL Technologies across roles spanning engineering, delivery, marketing, and HR. He was awarded by BBC Knowledge Series as one of the Greatest Marketing Influencers in 2017.

Speaking on the occasion, Srikanth Chakkilam, CEO – Cigniti Technologies, said, “I am excited to welcome Vinay Rawat and Sairam Vedam into two key positions of Cigniti. Together, they will work towards achieving Cigniti’s stated goal of helping global companies become digital-first. Cigniti is in a unique position to leverage its deep-rooted expertise of helping enterprises accelerate the digital transformation initiatives through world-class digital assurance and engineering services. The experience that both these leaders bring on board in working with digital and product engineering, AI platform companies would help in accelerating our next phase of growth.”

“Vinay brings extensive experience in general management and especially in sales and business development, creative deal making, outsourcing, process design and operations management.

Based out of the US, as the CRO, Vinay will focus on identifying new revenue opportunities and pioneer new markets for the company. He will work closely with Chairman & MD, CEO and Board of directors and would develop growth strategies, new offerings and opportunities.” he added.

Speaking about Sairam, Srikanth said, “Sairam who has joined us back at Cigniti will oversee the planning and execution of the organization’s strategic marketing programs, work on developing the long term charter towards our digital play, and will enhance Cigniti’s mindshare as a preferred Digital services provider and thought leader across our customers, partners, analysts, media, investors, influencers and employees. In his prior stint with us he drove the 360-degree marketing function building it from the scratch, managing the global brand footprint, and has a complete understanding of our culture and vision,” he added.

“As a digital industry and product engineering leader I have always believed that Digital Assurance is extremely important for any digital transformation program’s success. Some of the largest enterprises today rely on Cigniti’s digital assurance services to achieve growth and meet their digital transformation agenda. Hence, I am excited and look forward to helping Cigniti further scale the business, participate more deeply in our customer’s digital journeys & contribute towards achieving Cigniti’s vision of helping customers become digital-first through quality software,” said Vinay Rawat.

“Cigniti’s proprietary platform led approach, its proven ability to deliver transformative digital experiences through a confluence of market-leading full-cycle digital assurance and automation services with a strong foundation of more than a decade in consistently serving 200+ market-leading organizations as customers across the world is more apt than ever before. The bedrock of becoming digital-first in modern day business is ensuring impeccable digital experiences and customers today are looking to leverage this expertise further. I am excited to join back Cigniti as our next-gen offerings and services gear up to ride this unparalleled wave of growth.” said Sairam Vedam.

About Cigniti
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), a global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

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

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28 Jan

Cigniti Technologies Q3FY22 Revenue

Consolidated Revenue Rs. 325.46 crores and Net Profit Rs. 26.55 Cr

Standalone Revenue Rs. 121.17 crores and Net Profit Rs. 13.29 Cr 

Consolidated Financial Performance for Q3FY22 v/s Q3FY21 (Corresponding Year)

  • Revenue of Rs. 325.46 crore v/s. Rs. 223.90 crore [á 45.4%]
  • EBITDA of Rs. 40.44 crore v/s. Rs. 31.94 crore
  • PAT of Rs. 26.55 crore v/s. Rs. 26.35 crore

Consolidated Financial Performance for Q3FY22 v/s Q2FY22 (Corresponding Quarter)

  • Revenue of Rs. 325.46 crore v/s. Rs. 307.90 crore
  • EBITDA of Rs. 40.44 crore v/s. Rs. 31.92 crore
  • PAT of Rs. 26.55 crore v/s. Rs. 22.17 crore
Consolidated Financial Performance for 9MFY22 v/s 9MFY21 (Corresponding Year)

  • Revenue of Rs. 897.72 crore v/s. Rs. 663.50 crore [á 35.3%]
  • EBITDA of Rs. 96.67 crore v/s. Rs. 112.21 crore
  • PAT of Rs. 69.14 crore v/s. Rs. 80.68 crore

Mumbai, January 28, 2022: 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, 2021.

The company’s reported Net Profit for Q3FY22 stood at Rs 26.55 crore as against Net Profit of Rs 22.17 crore in Q2FY22.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 325.46 crore as against Rs 307.90 crore in Q2FY22.

EBIDTA for the December quarter was at Rs 40.44 crore and EBIDTA margin stood at 12.4 %.

Other income includes net foreign exchange loss of Rs. 0.70 Cr. for the quarter ended December 31, 2021.

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “We accomplished another quarter of good performance, enabling us to grow continuously to achieve our goals. We continue to remain focused on various avenues for growth and expansion plans. With disruptive changes in business models and implementation of newer technologies, we are optimistic that the demand for digital assurance, quality engineering and software testing industry is on the rise globally. Digital transformation and adoption of newer technologies has resulted in an accelerated momentum in building clientele from different sectors and a strong pipeline for the coming years.”

Highlights for the quarter ended December 31, 2021

  • Revenue from top 5 clients contributed approximately 21.8% of the Revenue
  • BFSI, Travel & Transport and Retail & e-commerce sectors contributed the most to the revenue for Q3FY22
  • Revenue split geographically: North America & Canada – 85%, UK & Europe – 8%, Rest of the World 7%.

About Cigniti Technologies Limited
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Dallas, USA with offices in USA, India, the U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

For further information, please contact:

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

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

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09 Dec

Cigniti Unveils Incight – A Customer Experience Assurance Platform

Dallas, USA: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing Services company, headquartered in Dallas, Texas expands its portfolio of digital assurance and experience solutions with the launch of their Customer Experience Assurance (CXA) Platform, Incight, that provides early and live experience insights, thereby enabling enterprises to achieve their Digital Transformation goals.

The competition to woo a customer has never been as fierce as in today’s digital age. Therefore, monitoring, identifying, and providing the best digital customer experience (CX) assurance has become pivotal for organizations. Being able to leverage real-time information across multiple digital touchpoints of the user’s sentiment and overall experience can help organizations provide a higher level of customer experience assurance. This, in turn, helps them build a successful brand story to stay ahead of the competition.

Cigniti is known for its IP-led solutions that focus on providing customer experience assurance, such as Customer Experience Sentiment Analyzer (CESA) from BlueSwan™ that identifies, categorizes and analyzes feedback expressed by end-users for a given product or service. The first-of-its-kind Customer Experience Assurance (CXA) platform, Incight, enables Product, Marketing, and CX leaders to analyze, predict and tailor the user experience of mobile applications leveraging the underlying AI and analytics platform capabilities in real-time. Cigniti’s CXA platform provides a 360-degree view that enables enterprises to proactively identify issues and make the necessary enhancements to their applications before the customers decide to drift away from the brand.

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies said “Per Forrester, brands that have superior customer experience bring in 5.7 times more revenue than their competitors. Incight has been built keeping customer-centricity in mind and ensures you can gain real-time insight into what your customers need, even before they ask for it, thereby helping you deliver world class customer experience.”

‘Incight’ is available for immediate use on incight.ai with a 7-day no obligation free trial period.

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

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02 Dec

Cigniti Technologies supports Belagavi Institute of Medical Sciences (BIMS) Karnataka with medical equipment

Belagavi, 1st December, 2021: The ICU unit at Belagavi Institute of Medical Sciences has been renovated by bringing in new medical equipment with the support of Cigniti Technologies. Inauguration of the ICU happened in the virtual presence of Mr. Paul Trotter, Dy. CTO at Atom, Mr. Srikanth Chakkilam, CEO at Cigniti Technologies and Mr. Krishnan Venkatachary, CFO at Cigniti. Dr. Viveki, Director, BIMS, and Mr. Mayur Patnala, Founder and CEO, Nirmaan Organization have graced the occasion at the Hospital.

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing services company, partnered with the Nirmaan Organization to provide medical equipment to the ICU ward of Belagavi Institute of Medical Sciences (BIMS) in the Belagavi district of Karnataka. Cigniti donated ECG machines, oxygen cylinders, X-ray machines, air conditioners for the ICU ward, computers for the hospital staff, crash carts, ICU medical trolleys, surgical trolleys, suction apparatus, NIV masks, and other medical equipment to the hospital to support India's fight against COVID-19.

"As a socially responsible organization, we’re committed to supporting India's recovery from the COVID-19 second wave. We are happy to be a part of this project to improve Karnataka's medical infrastructure, which will help rural residents get better healthcare during and after the pandemic." Srikanth Chakkilam, Chief Executive Officer of Cigniti Technologies, stated on the occasion.

"We thank Cigniti and Nirmaan for supporting BIMS Belagavi with crucial ICU medical equipment. The much-needed oxygen cylinders and NIV masks will help the hospital supplement their oxygen supplies and prepare for future emergencies." Dr. Viveki, Director, BIMS.

Shri. Mayur Patnala, Founder and CEO of the implementation partner, Nirmaan Organization, thanked Srikanth Chakkilam, Dr. Viveki, and the District Collector for supporting the program.

About Cigniti: Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

About Nirmaan: Nirmaan is an NGO founded in 2005 by a group of BITS Pilani students with the goal of creating a knowledge-driven and economically empowered society. Nirmaan works in the areas of education, livelihood, and social leadership. In the last 16 years of their journey, Nirmaan has impacted 16 lakh lives of children, youth, women, and farmers across 15 states of India by partnering with 75+ corporate and government institutions.

During the COVID-19 pandemic, Nirmaan has supported many government hospitals and frontline health workers by donating ICU beds, isolation beds, ventilators, PPE kits, masks, sanitizers, ration, and livelihood kits, etc. So far, Nirmaan has helped 44 government hospitals in Telangana set up and upgrade ICU wards, as well as 20 government hospitals in Karnataka and 34 government hospitals in Andhra Pradesh with the help of corporate partners.

Access the full coverage here

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

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30 Nov

Cigniti Enhances its 5G Assurance focus with innovate5G Partnership

Live 5G infrastructure further enables comprehensive assurance for clients embracing 5G

30th November 2021, Dallas: Cigniti Technologies, a global leader in independent quality engineering and software testing services, expands its portfolio of pioneering innovative digital assurance and experience solutions for next generation 5G technologies by forming a strategic partnership with innovate5G.

As companies move to 5G, they are going to be challenged in optimizing for the plethora of possibilities that 5G has to offer and with that, customer expectations and demand for new services will increase at a rapid pace. So, whether it be enhanced video, telehealth, adaptive manufacturing, AR/VR, gaming, consumer IoT services, connected vehicles, to name just a few, the pivot to the 5G paradigm will be significant as will the manner in which these new solutions are rolled out.

Embracing this new horizon of transformation and realization of 5G networks - machine type communication (mMTC), enhanced mobile broadband (eMBB), ultra-reliable low-latency communication (URLLC) – creates the mandate for a new paradigm of digital assurance. Innovate5G’s in5Genius platform combined with Cigniti’s 5G Assurance capabilities, creates an end-to-end assurance model for organizations that are leveraging 5G as the backbone for their business and consumer applications, IoT, and edge computing.

Srikanth Chakkilam (CEO – Cigniti Technologies): “The promised benefits of 5G - high-speed networks, increased capacity and minimal latency – creates a new dimension for companies to exploit across business and consumer applications, as well as with IoT. But what comes will be new architectures supporting the intrinsic relationship between the applications/IoT devices and the network. Our partnership with innovate5G, further enables Cigniti’s Digital Assurance services to best support our clients’ 5G initiatives with speed, reliability and predictability.”

Chris Stark (Founder/ CEO innovate 5G): “Our in5Genius cloud platform allows enterprises to leverage the vast capabilities of the 5G bandwidth. Through this partnership with Cigniti we are now able to offer best in class enterprise grade quality engineering services to expedite the development and mainstream roll-out of the 5G centric digital experience.”

About Cigniti: Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

About innovate5G:  innovate5G - in5Genius - platform meant for application developers to test their 5G applications in a secure and pressure-free environment, at their own pace. Whether it’s an idea for a gaming, industrial, or enterprise application, innovate5G is eliminating barriers for developers to test out their ideas - such as having to partner with a carrier or large OEM. We are working with universities and innovation zones to build 5G networks and developing a lab-sharing model in a similar vein to Airbnb. We design and build bespoke private CBRS LTE and 5G networks for enterprises.

Access the full coverage here

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

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29 Oct

Cigniti is a finalist in 2 categories at the North American Software Testing Awards

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing Services, is a finalist in two different categories mentioned below at the Annual North American Software Testing Awards 2021.

  • Best Test Automation Project – Functional
  • Testing Management Team of the Year

Cigniti is nominated in partnership with Equitable Bank for the Best Test Automation Project – Functional. For the Testing Management Team of the Year award, Cigniti is nominated in partnership with Aviva. The winners will be announced on November 23rd, at the Gala Awards Night in Toronto.

Cigniti has helped accelerate the digital transformation journey of several global enterprises by providing highly innovative and strategic software testing & quality engineering solutions. It is currently partnering with several enterprises in the North American region. These are a part of its distinguished portfolio of 200+ global enterprise clients, including 50+ Fortune 500 companies.

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27 Oct

Cigniti Recognized as Market Leader in Continuous Testing Specialists for the US by ISG

Dallas, TX, 27th Oct, 2021 – Cigniti Technologies has been recognized as a market leader in continuous testing specialists for the US by Information Services Group (ISG), in its ISG Provider Lens™ Next-Gen Application Development and Maintenance (ADM) Services report.   

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies, said, “Cigniti is a leading Digital Assurance company that enables global enterprises to accelerate their digital transformation and continuously achieve their digital next. 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 AI-based analytics use cases which are helping our enterprise clients to achieve significant acceleration in their org-wide test automation initiatives. Cigniti’s AI-based script-less test automation platform – iNSta – enables building of production grade test automation suites. The test execution engine integrates with the latest CI/CD tools and cloud (Sauce Labs, Browser Stack) infrastructure to support continuous testing, leading to reduced cost of quality, and improved productivity, stability, & reliability.” 

“Cigniti offers a gamut of services in the continuous testing realm and is equally good in executing large strategic QA contracts that warrant advisory competency. It’s making great inroads in the U.S. market through customer-oriented commercial models like testing-as-a-service (TAAS)”, said Ashish Chaturvedi, Principal Analyst, ISG. 

The ISG Provider Lens™ Next-Gen Application Development and Maintenance Services 2021 - U.S. examines the capabilities of U.S. providers.  

About Cigniti 

Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital. 

About ISG 

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com. 

Access the full coverage here

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21 Oct

Cigniti Technologies Q2FY22 Revenue

Consolidated Revenue Rs. 307.90 crores and Net Profit Rs. 22.17 Cr
Standalone Revenue Rs. 115.72 crores and Net Profit Rs. 9.62 Cr

Consolidated Financial Performance for Q2FY22 v/s Q2FY21 (Corresponding Year)

  • Revenue of Rs. 307.90 crore v/s. Rs. 221.20 crore [ 39.2%]
  • EBITDA of Rs.31.92 crore v/s. Rs. 44.21 crore
  • PAT of Rs. 22.17 crore v/s. Rs. 25.22 crore

Consolidated Financial Performance for Q2FY22 v/s Q1FY22 (Corresponding Quarter)

  • Revenue of Rs. 307.90 crore v/s. Rs. 264.36 crore [ 16.5%]
  • EBITDA of Rs. 31.92 crore v/s. Rs. 24.31 crore
  • PAT of Rs. 22.17 crore v/s. Rs. 20.42 crore
Consolidated Financial Performance for H1FY22 v/s H1FY21 (Corresponding Year)

  • Revenue of Rs. 572.26 crore v/s. Rs. 439.60 crore [ 30%]
  • EBITDA of Rs. 56.23 crore v/s. Rs. 80.27 crore
  • PAT of Rs. 42.59 crore v/s. Rs. 54.32 crore

Hyderabad/Mumbai, October 21, 2021: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended September 30, 2021.

The Company’s Consolidated Revenue from operations for the quarter under consideration grew by 16.5% to Rs. 307.90 crore as against Rs. 264.36 crore in Q1FY22.

The company’s Net Profit for Q2FY22 stood at Rs 22.17 crore as against Net Profit of Rs 20.42 crore in Q1FY22.

Reported EBIDTA for the September quarter was at Rs 31.92 crore and EBIDTA margin stood at 10.4%.

During the current quarter and six-month period ended September 30,2021, the Company has written off export incentives amounting to Rs. 9.74 crore pertaining to the financial year 2019-2020, pursuant to notification no. 29/2015-2020 dated September 23, 2021, issued by Ministry of Commerce & Industry. The Operational EBITDA margin would have been 13.5 percent if the export incentives had not been written off.

Other income includes net foreign exchange gain of Rs. 1.87 Cr. for the quarter ended September 30, 2021.

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “We are glad to deliver another quarter of robust numbers and we endeavor to achieve sustainable profitability through new offerings and solutions. 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 augmented rate in the coming years.”

Highlights for the quarter ended September 30, 2021

  • Revenue from top 5 clients contributed approximately 20.5% of the Revenue
  • BFSI, Travel & Transport and Healthcare 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 3,500+ experienced professionals are spread across US, UK, Canada, Australia, India, UAE, Singapore, Czech Republic 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

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19 Oct

Cigniti is a finalist in 3 categories at the European Software Testing Awards

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing Services, is a finalist in three different categories mentioned below at the 8th Annual European Software Testing Awards 2021.

  • Best Agile Project
  • Testing Management Team of the Year
  • Best Overall Testing Project - Retail

Cigniti is nominated in partnership with Atom Bank for the Best Agile Project and the Testing Management Team of the Year award. For the Best Overall Testing Project (Retail) award, Cigniti is nominated in partnership with River Island. The winners will be announced on November 9th, at the Gala Awards Night in London.

Cigniti has helped accelerate the digital transformation journey of several global enterprises by providing highly innovative and strategic software testing & quality engineering solutions. It is currently serving enterprises from eight countries in the Europe and U.K. region. These are a part of its distinguished portfolio of 200+ global enterprise clients, including 50+ Fortune 500 companies.

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08 Sep

Cigniti expands its global footprint in Central Europe with opening of an office in Czech Republic

Prague, 8th Sep 2021: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing Services company, announced the opening of their office in Prague, Czech Republic. With this new expansion, Cigniti further extends its global footprint in the European region to meet the growing digital transformation needs of leading enterprises based in the region. Cigniti is currently serving enterprises from eight countries in the Europe and the U.K.

“Being the best country for business in Central and Eastern Europe (CEE), with rich scientific tradition, incredible talent pool, and well developed R&D infrastructure that supports business’s ecosystem, Czech Republic was a natural choice for us as we looked at expanding our presence in the Europe region,” said Srikanth Chakkilam, CEO, Cigniti.

“This new office will enable us to be more agile and responsive towards the needs of our existing clients in the region and serve them from close proximity. This will also be the nearshore delivery centre for our clients in the UK & EU and tap into the rich talent pool available locally” said Nanda Padmaraju, Cigniti’s head of RoW business.

Cigniti has helped accelerate the digital transformation journey of several global automobile enterprises by providing highly innovative & strategic quality engineering solutions. Our presence in Czech Republic would further boost our efforts to partner with the leading automobile enterprises in the central Europe. Enterprises in the European region today are looking towards aligning their transformation roadmaps to leverage the benefits of next-generation technologies such as Hyperautomation (RPA, IoT, AI/ML) for connected cars and digital retail frameworks to kick-start a new ‘post-covid’ era. Cigniti is committed to providing its clients the required insights, advisory, and digital assurance services to accelerate their business transformation, and help them drive higher ROI from their QA initiatives.

About Cigniti: 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 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.

Access the full coverage here

 
Contact: Midhun Pingili | Midhun.pingili@cigniti.com | www.cigniti.com

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03 Sep

Cigniti Technologies to host Cignithon – a Global Testing Hackathon

Mumbai, September 03, 2021- Cigniti Technologies, the world’s leading independent Quality Engineering & Software Testing services company is hosting Cignithon, an annual global software testing hackathon on September 4, 2021, virtually from 10 AM IST to 9 PM IST on 5th September 2021.

Cignithon is a platform for testers to compete globally and test live products for Functionality, UI, and Security, as well as to test applications from different domains and tech stacks. It is a great platform that enables participants to network and interact with professionals from the same community and share their ideas.

The annual event will take place for two days starting from September 4, 2021, where it will begin with the virtual welcoming of the participants and introduction of Cigniti and The Test Tribe. It will be followed by a briefing of the event format and the beginning of the hackathon. The results of the hackathon will be declared on September 5, 2021.

Cignithon aims to target software testers globally, with the winners being awarded prize money up to INR 200,000 along with other rewards and perks.

Registration for Cignithon is open to software testers around the world. For more details and registrations, visit https://cigniti.com/cignithon-2021/

About Cigniti: 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 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.


Contact: Midhun Pingili | Midhun.pingili@cigniti.com | www.cigniti.com

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11 Aug

Cigniti Recognized as a Strong Performer in Continuous Automation and Testing Services Report by Independent Research Firm

According to the report, Cigniti Technologies is one of the top three pure play Continuous Automation and Testing (CAT) services providers, focused on Agile, DevOps, and RPA services.

DALLAS August 11, 2021 - Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing services company that brings the power of AI into Agile and DevOps to accelerate enterprise digital transformation, today announced that Forrester Research has recognized Cigniti as a Strong Performer in The Forrester Wave™: Continuous Automation and Testing Services, Q3 2021 evaluation.

The Forrester Wave™ evaluates 15 most significant CAT providers, including Accenture, Capgemini, Cigniti Technologies, HCL, Tech Mahindra, Cognizant, Infosys and others, and scores them based on 25-point criteria for continuous automation and testing (CAT) services. Cigniti has been recognized as a Strong Performer. The report states that the percentage of Cigniti’s reference clients using test automation reached through its services was above-average, as were client intimacy scores. Per the report, "as one client put it: Client intimacy is where Cigniti excels! They know us, they know our problems, and they know how to integrate with our teams and solve problems.”

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti, said, “We believe this positioning stands testament to the faith large enterprise clients of ours place in us, in driving their continuous automation and testing initiatives for them. Our focus on delivering value leveraging our IP, BlueSwan, and client centricity has helped us gain this trust and recommendations from our clients.”

According to Forrester’s evaluation, “Cigniti’s accelerator platform approach, branded as BlueSwan, is quite comprehensive and has been infused with AI and ML.” BlueSwan™ is a next generation Proprietary Testing platform of Cigniti that helps accelerate Quality Engineering for Digital Enterprises globally by solving their test engineering problems.

Access the Forrester Wave™: Continuous Automation and Testing Services, Q3 2021 report here. Available to Forrester subscribers or for purchase.

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

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23 Jul

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

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01 Jul

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

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29 Apr

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

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08 Apr

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

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28 Jan

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

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20 Jan

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 Engineering, Advisory & Transformation, Digital 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

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06 Jan

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://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

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