Coforge Ltd Q2FY23 PAT up 37.1% at Rs201.1 crore on sharp improvement in EMEA operating profits

25 Oct 2022 , 11:31 AM

Coforge Ltd reported 24.85% growth in sales revenues for the September 2022 quarter on consolidated basis at Rs1,959.40 crore.

Revenue growth was 7.11% in sequential terms. In terms of geographies, India revenues were lower and APAC revenues were flat.

However, US revenues grew by 22.6% on yoy basis while the Europe revenues were up 48.2% yoy.

On a yoy basis, the revenues were up 16% in constant currency terms and 3.4% on sequential terms in constant currency terms. The total order book stood at $802 million.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 37.08% at Rs201.1 crore on the back of sharp improvement in EMEA operating profits.

On a yoy basis, the EBITDA margins improved from 16.5% to 18.4%. PAT margins were higher at 10.26% in the Sep-22 quarter compared to 9.35% in the Sep-21 quarter and sharply higher than 8.18% in June 2022 quarter.

The fresh order intake TCV was up 20.3% over last 5 years on CAGR basis. Over last 6 years, top client concentration in revenues is down 750 basis points.

Financial highlights for Sep-22 compared yoy and sequentially

	Coforge Ltd
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,959.40	₹ 1,569.40	24.85%	₹ 1,829.40	7.11%
Net Profit (Rs cr)	₹ 201.10	₹ 146.70	37.08%	₹ 149.70	34.34%
Diluted EPS (Rs)	₹ 32.41	₹ 23.65		₹ 24.14
Net Margins	10.26%	9.35%		8.18%