Coforge Ltd Q3 PAT up 50.57% at Rs183.7cr on 50.3% growth in EBITDA and 19.5% EBITDA margins

28 Jan 2022 , 04:49 PM

Coforge Ltd reported 39.27% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs1,658.10cr. On a sequential basis, the revenues were higher for the quarter by 5.65%.

During the quarter, the company added 13 clients with total order intake of $247 million. Total order book executable over next 12 months stands at $701 million.

DSO in the quarter has moved from 75 days to 70 days. There has been a 300 bps expansion in the contribution of the top five clients on a sequential basis, showing deeper penetration.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 50.57% at Rs183.70cr on higher EBITDA and better revenue per order client.

The company reported 50.3% growth in adjusted EBITDA and a healthy EBITDA margin of 19.5% in a tough quarter. The attrition is up at 16.5%, but that has been the trend across the IT industry in the current quarter.

Focus on premium clients has helped client margins. Net margins improved from 10.25% in the Dec-20 quarter to 11.08% in the Dec-21 quarter. Net margins were higher sequentially too.

Financial highlights for Dec-21 compared yoy and sequentially

	Coforge Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,658.10	₹ 1,190.60	39.27%	₹ 1,569.40	5.65%
Net Profit (Rs cr)	₹ 183.70	₹ 122.00	50.57%	₹ 146.70	25.22%
Diluted EPS (Rs)	₹ 29.58	₹ 19.77		₹ 23.65
Net Margins	11.08%	10.25%		9.35%