Coforge Ltd. Surpasses Expectations with 31.5% Sequential Profit Surge in Q3 FY23-24

23 Jan 2024 , 02:51 PM

Coforge Limited reports a robust Q3 FY23-24 performance with a sequential profit increase of 31.5%, reaching Rs 238 crore. Year-on-year, the profit has grown from Rs 228.2 crore in the corresponding quarter of the previous fiscal year.

Revenue from operations sees a 13% uptick, reaching Rs 2323.3 crore, compared to Rs 2055.80 crore in Q3 FY23.

On a month-on-month basis, revenue experiences a 2% increase. EBITDA margin stands at 17.3%, marking a significant 201 basis points improvement quarter-on-quarter.

The Board of Directors declares a third interim dividend of Rs 19 per equity share for FY23-24, with a record date set for February 5, 2024. Coforge secures deals worth $354 million during the quarter, marking the eighth consecutive quarter with deal wins exceeding $300 million.

The total order book executable over the next 12 months sees a 15.8% increase, reaching $974 million. Seven new clients are welcomed during the quarter.

CEO Sudhir Singh highlights Coforge’s growth guidance commitment, stating that the company is on track to deliver within the revenue guidance range for the year.

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