scorecardresearchCoforge profit rises 37% to ₹201 crore in July-September

Coforge profit rises 37% to 201 crore in July-September

Updated: 21 Oct 2022, 08:00 AM IST
TL;DR.
Coforge had recorded profit after tax of 146.7 crore in the same period a year ago.
Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(PTI) IT company Coforge on Thursday reported about 37 per cent increase in consolidated profit after tax to 201.1 crore in the second quarter ended September 30, 2022.

The company had recorded profit after tax of 146.7 crore in the same period a year ago.

The consolidated revenue from operations of Coforge increased by about 25 per cent to 1,959.4 crore during the reported quarter from 1,569.4 crore it posted in the September 2021 quarter.

The firm has reiterated its annual revenue guidance to grow at least 20 per cent in constant currency terms.

Coforge reported to have received order of around USD 304 million (about 2,514 crore) during the quarter, which makes it a third consecutive with deal wins of over USD 300 million.

The company added 11 new clients during the quarter, which brought it a total order book of USD 802 million (about 6,630 crore) executable over a period of next 12 months.

"A record high twelve month locked-in order book of USD 800 million plus, a highly committed workforce with one of the lowest employee attrition numbers across the industry, robust quarterly order intake of USD 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," Coforge chief executive officer Sudhir Singh said.

The company said that its headcount at the end of the quarter increased to 22,991 and reported an attrition rate of 16.4 per cent.

First Published: 21 Oct 2022, 08:00 AM IST