Coforge Hits Upper Circuit on Q2 Profit Jump

23 Oct 2024 , 12:03 PM

After Coforge declared a profit after tax of Rs 233.6 crore for the second quarter ended September 2024, a 24.3% YoY jump from the same quarter of the previous year, the company’s shares soared 10%, reaching their upper circuit at Rs 7,475.15 on the BSE.

In constant currency (CC) terms, revenue for the quarter was Rs 3,062.3 crore, up 33% year over year and 26.3% quarter over quarter.

The cash flow from operations for the quarter was $10.9 million, while the EBITDA margin was 15.8%, up 53 basis points on a year-over-year basis.

For the eleventh straight quarter, order intake exceeded $300 million, with a total of $516 million.

Furthermore, an interim dividend of Rs 19 per share has been recommended by the company’s board, and October 11 has been set as the record date for this payout.

For the company, Q2FY25 has been a remarkable quarter. Significant net headcount growth for the second consecutive quarter and large deal pipeline that appears to be very strong. This is along with a concurrent and material expansion in EBITDA, a 27% sequential dollar growth with the organic business growing 6.3% sequentially.

For feedback and suggestions, write to us at [e-mail]