Live
- No new financial commitment under discussion with TotalEnergies: Adani Green Energy
- Pawan Kalyan meets Gajendra Singh Shekhawat, discusses on tourism
- Essar Group Chairman Shashikant Ruia passes away at 81, PM Modi grieves
- Maharashtra CM Decision Delayed: Mahayuti Alliance Faces Negotiations Over Leadership
- Uproot anti-constitutional Cong: Karnataka BJP urges people on Constitution Day
- India registers higher growth in better quality formal sector jobs
- India registers higher growth in better quality formal sector jobs
- How PM Modi championed Babasaheb’s ideals since early days, reveals Modi Archive
- Hyderabad: CAPF Constable Accuses Man of Repeated Rape Over Decade-Long Relationship
- Weight loss, diabetes drugs can also protect kidneys: Study
Cigniti Tech Q2 net falls 29% to Rs 25 crore
Cigniti Tech Q2 net falls 29% to Rs 25 crore
IT firm Cigniti Technologies on Thursday posted a 29 per cent decline in its consolidated net profit at Rs 25 crore for the second quarter ended September 2020, mainly on account of a one-time provisioning against an income tax order
Hyderabad: IT firm Cigniti Technologies on Thursday posted a 29 per cent decline in its consolidated net profit at Rs 25 crore for the second quarter ended September 2020, mainly on account of a one-time provisioning against an income tax order.
The company had logged a net profit of Rs 35.72 crore in the same quarter a year ago. Commenting on results, Cigniti Technologies Chief Financial Officer Krishnan Venkatchary told PTI that the company's year-on-year profit has come down on account of one-time write-off of around Rs 8.95 crore which was necessitated for an income tax order received around transfer pricing for 4 years between 2015-2018 in the US.
"We have concluded the IT assessment scrutiny in the US. It will not affect us in coming quarters," Venkatchary said.
