Cognizant Technology Solutions has reported about a 24 per cent jump in net profit

RELATED ARTICLES Cognizant Q4 profit jumps 18 per cent

to $535 million for the year ended 2009, as compared to $430.8 million the previous year.

Revenue was up 16 per cent to $3.28 billion as against $2.82 billion in 2008. The company added close to 10,300 employees in the fourth quarter to take the total headcount to about 78,400.

For the fourth quarter ended December 31, 2009, net profit was

$144 million compared to $112.30 million for the corresponding quarter the previous year. Fourth quarter revenue was up 20 per cent from $753 million to $902.70 million on a year-on-year basis.

“A continued focus on operational excellence combined with aggressive hiring in the latter part of the year leaves us well positioned for a strong 2010,” said chief financial and operating officer of Cognizant Gordon Coburn.

“Cash, short- and long-term investments have increased by over $210 million during the fourth quarter and by over $625 million for the full year, to a total of approximately $1.55 billion.”

As against last year’s initial guidance of at least 10 per cent top-line growth, the company has projected 2010 revenue to be at least $3.935 billion, up at least 20 per cent.