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Mid-tier IT firm Coforge reported a 4.3 per cent year-on-year rise in net profit at ₹238 crore in Q3. On a sequential basis, profits grew 31.5 per cent.
Revenue from operations stood at ₹2,323.3 crore, up 2.1 per cent on a quarter-on-quarter basis, and 13 per cent on y-o-y basis. EBITDA margin stood at 17.3 per cent, up by by 201 bps q-o-q.
Order intake was $354 million, recording eight consecutive quarters of over $300 million deal wins. Total order book executable over the next 12 months at $974 million, up 15.8 per cent y-o-y, and seven new clients were added during the quarter.
“Coforge this year is likely to be one of the very few firms that gave a clear growth guidance at the beginning of the year and shall deliver within that revenue guidance range. Our ability to deliver on an annual revenue guidance commitment in such a tough year and the fact that at the end of Q3 our YTD organic cc revenue growth is 14.7 per cent is a testament to the tenacity of Team Coforge and in our ability to execute against plans” said Sudhir Singh, Chief Executive Officer, Coforge Ltd.
Total employee headcount reduced marginally from 24,638 last quarter to 24,607 in Q3. Attrition, at 12.1 per cent, was lower than 13 per cent in the last quarter. The Board has recommended an interim dividend of ₹19 per share, and the record date for this payout will be February 5.
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