Coforge Q4 result: Net profit sinks 48% on one-off expense, revenue jumps 24% to cross $1 billion

Coforge to give all its employees iPads to celebrate crossing $1 bn in annual revenue

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Information technology (IT) player Coforge on April 27 reported net consolidated profit of Rs 116.7 crore for the March quarter of FY23, plunging 48.08 percent from Rs 224.8 crore in the year-ago period.

The profit was down largely due to a one-off expense of Rs 52.3 crore marked as the provision for its curtailed fundraising bid approved in 2021.

Revenue from operations stood at Rs 2,170 crore, up 24.50 percent from Rs 1,742.9 crore in the corresponding quarter a year ago, the company said in an exchange filing.

“We believe that our performance during the quarter was marked by two key achievements. The first was a quarterly sequential US$ growth of 5 percent. The second major landmark has been the firm crossing the US$ one billion revenue mark. Our performance heading into FY24 sets us up well to deliver robust growth,” said Sudhir Singh, Chief Executive Officer, Coforge.

For FY24, the firm issued an annual revenue growth guidance of 13-16 percent in constant currency terms, expects a gross margin increase of about 50 basis points (bps) and adjusted EBITDA margin to be at similar levels as FY23. One basis point is a hundredth of a percentage point.

The board has also recommended an interim dividend of Rs 19 a share, and the record date for this payout will be May 9, 2023.

Coforge said the total order book executable over the next 12 months stands at $869 million, up 20.7 percent YoY. Order intake was at $301 million, while 10 new client logos were added during the quarter.

The fiscal year-ended headcount was at 23,224, which included net addition of 719 people during the quarter. In the last 12 months, attrition was at 14.1 percent, improving 172 basis points QoQ and 362 basis points YoY.

To celebrate the $1-billion revenue milestone, the company has decided to gift an Apple iPad to each of its employees.

At 11.39 a.m., the scrip was trading 1.5 percent higher on the NSE at Rs 4,002 with the sectoral benchmark Nifty IT trading 0.83 percent up at 27,294.90 points.