While Cognizant is not listed in India, it is still a major IT player at par with the Big-4 in the industry. Cognizant reported 29% drop in Jun-20 quarter profits at $361 million and expects FY20 revenues of around 16.7 billion. Cognizant follows the calendar year cycle for financial accounting with annual year ending on December. It employs 2 lakh staff in India.

Revenue across business segments was negatively impacted for Cognizant by COVID-19 pandemic as well as the ransom-ware attack. In May and June, there was elevated demand in segments like cloud and enterprise application, IT modernisation and digital engineering. BFSI, which constitutes 35% of revenues, fell 5.2% driven by fall in banking and insurance.

There was weakness across global banking accounts and capital markets segments. However, healthcare, which accounts for 29% of revenues, grew 2% driven by increases from life sciences clients. Products & resources, accounting for 22% of revenues, fell by 6.5% and that was largely driven by retail, consumer goods, travel and hospitality clients.