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Coforge Q2 Results: Revenue Soars 27.6% in July-September, Know What Boosted The Results!

Coforge Q2 Results showed strong performance for July-September 2024, with a 27.6% rise in revenue to ₹3,062 crore, driven by synergies from a key acquisition, surpassing earlier expectations.
Coforge Q2 Results: Revenue Soars 27.6% in July-September, Know What Boosted The Results!

Coforge Q2 Results delivered strong performance for the July-September 2024 quarter, driven by synergies from a key acquisition. The Noida-based IT firm’s consolidated revenue from operations rose 27.6% quarter-on-quarter to ₹3,062 crore, surpassing earlier expectations, as detailed in a filing on Tuesday.

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In Q2 FY25, the company reported a 35.8% rise in EBIT to ₹288 crore, with EBIT margins increasing by 60 basis points to 9.4%. Net profit surged 67.7% to ₹234 crore, reflecting robust operational performance during the quarter.

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Coforge’s board approved an interim dividend of ₹19 per share, with a record date of 11 October 2024. This follows the acquisition of a 54% stake in Cigniti Technologies Ltd. at ₹1,415 per share, a $220 million deal completed in Q2 FY25.

The acquisition synergies are already evident, as Coforge secured $516 million in order intake during the quarter, marking its eleventh consecutive quarter with over $300 million in deal wins. The company also added 13 new clients and expanded its workforce by 5,871 employees.

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Despite these positive outcomes, Coforge shares fell 0.41% to ₹6,795.60 on Tuesday, while the Sensex ended 1.15% lower. The quarterly results were declared after market hours, indicating potential future market movements.

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