Cognizant reports 21.4% rise in net profit; gives a flat guidance

Cognizant Technology Solutions reported a 21.4% year-on-year (YoY) as well as sequential rise in net profit at $663 million helped by robust margin growth from a land sale gain and weaker base.Partially supported by acquisitions, revenue for the quarter rose 7.5% YoY to $5.12 billion, coming in at the higher end of its guidance, helped by growth in key verticals of health sciences, financial services and products and resources along with healthy aggregate business uptick across regions.

Sequentially, revenue growth remained flat at 0.65% from $5.08…