Coforge Q2 PAT rises over 34% sequentially; 12-month order book at $802 million

20 Oct 2022 , 04:57 PM

EBITDA improved by 18% to Rs 344.4 crore in Q2 FY23 from Rs 291.8 crore in Q2 FY22. EBITDA margin was 17.6% in Q2 FY23 as against 15.9% in Q1 FY23. The improvement in margins was driven by continued offshoring expansion, utilization uptick, higher contribution from higher margin businesses and operational improvements. Profit before tax in Q2 FY23 stood at Rs 268 crore, up by 21.2% from Rs 221.2 crore in Q1 FY23. In dollar terms, the company reported revenues of $246.9 million (up 3.4% QoQ) for the quarter ended 30 September 2022. In constant currency terms, the companys revenue has grown by 6.2% QoQ. In Q2 FY23, the companys order intake was $304 million and it added 11 new clients during the quarter. Total order book executable over the next 12 months stood at $802 million. Headcount at the end of the quarter increases to 22,991 and LTM attrition down 160 bps Q-o-Q to 16.4% as on 30 September 2022. Sudhir Singh, chief executive officer, Coforge, said: ?A record high twelve month locked-in order book of $800 million plus, a highly committed workforce with one of the lowest employee attrition numbers across the industry, a large deal machinery that continues to close pursuits at scale, robust quarterly order intake of $300 million plus, and the absence of a disproportionate reliance on any single client gives us confidence that revenue growth will continue to be sustained and robust in FY23 and beyond.? The firm has reiterated its annual revenue guidance to grow at least 20% in constant currency terms and Adjusted EBITDA margin guidance between 18.5% and 19.0% for the fiscal year 2023. The board has recommended an interim dividend of Rs 13 per share, and the record date for this payout will be 4 November 2022. Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. The firm has a presence in 21 countries with 25 delivery centers across nine countries. The scrip rose 1% to end at Rs 3850.05 on the BSE today. Powered by Capital Market – Live News