Chennai: Nasdaq listed Cognizant Technology Solutions Corporation has finished the quarter ended on September 30 with a total sales revenue of $ 98.1 million, up by 60 per cent from $ 61.2 million in the same period in 2002.

According to a Cognizant release in Chennai on October 22, the company's net income was up 65 per cent to $ 16 million, as against $ 9.7 million in the quarter ended on September 30, 2002.

Application management business of the company represented 58 per cent of the revenue and application development and integration business, the remaining 42 per cent, it said.

"As a result of its well differentiated competitive position, Cognizant continued to grow faster than the industry", Kumar Mahadeva, Chairman and Chief executive of the company said in the release, adding that the company was optimistic about the future.

PTI