Cognizant Q1 net up 37.5%; year outlook raised

Cognizant has turned the heat on Wipro for a spot among the top three Indian IT services companies. Driven by strong demand environment, US-based IT services firm Cognizant on Tuesday posted better-than-expected 37.5 per cent jump in net profit at $208.32 million for the January-March quarter and forecast strong outlook for the second quarter numbers.