Cognizant Technology Solutions CorpReuters
US-based Cognizant Technology Solutions on Tuesday reaffirmed its full-year revenue guidance of at least $12.41 billion set for the calendar year 2015 despite disruptions to its operations caused by the recent floods in Chennai.
The company, which has major operations in India, manages 11 delivery and operations centers in Chennai, which recently witnessed one of the worst floods in the past several decades. Cognizant said in a statement that its business continuity plan largely mitigated the financial impact of the flooding.
The IT services provider also maintained its non-GAAP diluted EPS guidance of at least $3.03.
Cognizant said all its employees are safe and accounted for and that its comprehensive business continuity plan enabled continuity of critical work for its clients.
Last month, Cognizant had announced to spend $40 million (Rs 260 crore) to help flood victims, its employees and business partners in the flood-hit capital city of Tamil Nadu.
“In December, Chennai experienced heavy rains that caused unprecedented flooding. During this period, the company’s key priorities were ensuring the safety of its employees and their families, and maintaining continuity of critical operations for clients,” it said.
A few Indian companies including Tata Consultancy Services (TCS) and Wipro have already warned about Chennai floods weighing on their earnings in the December quarter.
TCS, India’s largest IT firm, had earmarked Rs 1,100 crore to offer interest free cash advances to its employees in Chennai .