Cigniti Tech posts ₹39-cr profit

Cigniti Technologies, an independent software testing services company, has posted a net profit of ₹39.15 crore in the first quarter ended June 30, 2018, against a loss of ₹5.68 crore in the same quarter previous year. The firm posted revenues of ₹194.71 crore (₹168.48 crore) in the quarter. The net profit for the quarter, however, included a one-time reversal of the tax provision amounting to ₹13.62 crore in Cigniti Technologies Inc, the USA. “We have added 30 clients in the quarter,” said C V Subramanyam, Chairman and MD. “Our top 10 clients contributed approximately 30 per cent to the overall revenues,” he said.