{"id":82658,"date":"2020-11-09T13:42:06","date_gmt":"2020-11-09T13:42:06","guid":{"rendered":"https:\/\/coforge.site\/cigniti_new\/?p=82658"},"modified":"2023-10-18T09:03:48","modified_gmt":"2023-10-18T09:03:48","slug":"cigniti-tech-q2-net-profit-drops-29-to-rs-25-crore","status":"publish","type":"post","link":"https:\/\/coforge.site\/cigniti_new\/cigniti-tech-q2-net-profit-drops-29-to-rs-25-crore\/","title":{"rendered":"Cigniti Tech Q2 net profit drops 29% to Rs 25 crore"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]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.<\/p>\n<p>The company had logged a net profit of Rs 35.72 crore in the same quarter a year ago.<\/p>\n<p>Commenting on results, Cigniti Technologies Chief Financial Officer Krishnan Venkatchary told PTI that the company&#8217;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.[\/vc_column_text][vc_btn title=&#8221;Access the full coverage&#8221; style=&#8221;flat&#8221; shape=&#8221;square&#8221; color=&#8221;primary&#8221; link=&#8221;url:https%3A%2F%2Fcigniti.com%2Fwp-content%2Fuploads%2FCigniti-Tech-Q2-net-falls-29-to-25-crore.pdf||target:%20_blank|&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]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 [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[459],"tags":[],"class_list":["post-82658","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"featured_image_src":{"landsacpe":false,"list":false,"medium":false,"full":false},"_links":{"self":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/82658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/comments?post=82658"}],"version-history":[{"count":0,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/82658\/revisions"}],"wp:attachment":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/media?parent=82658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/categories?post=82658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/tags?post=82658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}