Coforge Q1 Results: Profit Jumps 44% To Rs 165 Crore, Revenue Rises 2.5%
Coforge's net profit rose 44% sequentially to Rs 165.3 crore in Q1 FY24 on the back of revenue that rose 2.4% to Rs 2,221 crore.
Revenue growth at Coforge Ltd. was sustained in the first quarter of fiscal 2024 and met analyst estimates.
The software firm's revenue rose 2.4% to Rs 2,221 crore in the April-June quarter, according to an exchange filing on Thursday. That compares with the Rs 2,245.6-crore consensus estimate of analysts tracked by Bloomberg.
Coforge Q1 Results: Key Highlights (Consolidated, QoQ)
Revenue up 2.4% at Rs 2,221 crore (Estimate: Rs 2,245.6 crore)
EBIT up 2.9% at Rs 230.3 crore (Estimate: Rs 309.7 crore)
EBIT margin up 10 BPS at 10.4% (Estimate: 13.79%)
Net profit up 44% at Rs 165.3 crore (Estimate: Rs 227.3 crore)
Shares of Coforge closed 1.29% lower at Rs 4,812.95 apiece on the BSE, as compared with a 0.71% rise in the benchmark Sensex. The quarterly results were declared after market hours.
