Indian outsourcing provider Cognizant has reported increased sales and profit for the first quarter of this year.
The company said it is confident that it can not only survive the downturn but prosper through winning new business.
The company's turnover was 16% higher than the same period last year at $745.9m, while profit increased by over $10m. Cognizant expects turnover to increase to $760m in the next three months.
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Francisco D'Souza, president and CEO of Cognizant, said, "We remain confident of achieving our full year guidance of at least 10% revenue growth. We will continue to adhere to our business strategy and strategically manage our way through the current market turmoil to capture new opportunities so that we can emerge from this downturn in an even stronger position than when we entered it."