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Coforge Q3 results: Profit grows 51% YoY, revenue 39%; interim dividend of Rs 13 per share announced

Coforge said its revenue for Q3 FY22 came in at $221.6 million in terms of US dollar and Rs 16,581 million in terms of rupee.

January 27, 2022 / 06:08 PM IST

IT major Coforge Ltd on January 27 declared its financial results for the third quarter of fiscal year 2021-22, with the company posting a 50.7 percent year-on-year surge in profit after tax (PAT) and 39.3 percent YoY surge in revenue.

The company said its board has recommended an interim dividend of Rs 13 per share. "The record date for this payout will be 8th February 2022," it added.

Coforge said its revenue for Q3 FY22 came in at $221.6 million in terms of US dollar and Rs 16,581 million in terms of Indian rupee.

"This was up 37.8 percent in USD terms and 39.3 percent in INR terms YoY," it said. Sequentially, it marked a 4.2 percent jump in USD terms and 5.7 percent surge in INR terms.

The PAT, which was recorded as Rs 183.7 crore for the quarter, was 34.4 percent higher as compared to Q2 FY22.

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The EBIT for the third quarter came in at Rs 246.7 crore, which was 14.8 percent higher sequentially. "Adjusted EBITDA margin for the quarter expanded to 19.5 percent," Coforge noted in a press release.

“The quarter saw the firm register its highest quarterly adjusted EBITDA margin over the last ten years despite existing supply side pressures. The firm also experienced robust broad based sequential growth, continued net headcount addition at a very fast clip, strong growth in our top ten clients, yet another large deal closure and a continued improvement in the offshore-onsite revenue mix, Coforge's Chief Executive Officer Sudhir Singh said.

Sharing its business highlights for the quarter ending December 2021, Coforge said its total order book executable over the next 12 months was recorded as $701 million. "Order intake was $247 million while 13 new clients were added during the quarter," it said.

The company's headcount increased by 1,344 to 22,130. "Attrition at 16.3 percent continues to be amongst the lowest in the industry," it added.

Coforge has revised upwards its annual revenue guidance and expects consolidated revenue to grow around 37 percent in constant currency terms. It expects adjusted EBITDA to grow around 44 percent over the previous year.



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Moneycontrol News
first published: Jan 27, 2022 05:49 pm
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