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What is the story about?
Technology Services provider Coforge Ltd. reported results for the December quarter in the early hours of Friday, January 23, that were largely in-line with what the street had been anticipating.
For the December quarter, Coforge's revenue in US Dollar terms stood at $478.2 million, up 3.5% sequentially, and in-line with the CNBC-TV18 poll expectation of $475.5 million.
In rupee terms, Coforge reported revenue from operations of ₹4,188 crore, up 5.1% sequentially and largely in-line with the ₹4,206 crore projection from the CNBC-TV18 poll.
Earnings Before Interest and Tax (EBIT) for the quarter remained largely flat at ₹559.4 crore, while margins narrowed by 60 basis points to 13.4% from 14% in the previous quarter. The CNBC-TV18 poll had projected margins to narrow 80 basis points to 13.2%.
Coforge's revenue grew by 4.4% sequentially in constant currency terms, better than the 3.5% growth that analysts were working with. The company signed six large deals during the quarter, with total order intake at $593 million during the December period.
Executable order book for the company is now up 30% from last year at $1.72 billion, as per its investor presentation.
IT attrition at the end of the quarter stood at 10.9%, with the company also registering net additions of 445 resources during the quarter.
"The $2 billion core of data, cloud and AI-led engineering, that will be created after Coforge and Encora come together, sets us up for sustained outperformance in the years to come," Sudhir Singh, the CEO and Executive Director at Coforge said.
In addition to the results, the board of Coforge has also approved an interim dividend for its shareholders worth ₹4 per share, record date for which has been fixed as January 31, 2026.
Coforge was in the news recently after it acquired US-based Encora for over $2 billion. CEO Sudhir Singh had noted in an interaction with CNBC-TV18 back then, that the company is unlikely to add any new vertical or geography over the next 3-5 years. The company has already said that no new investments will be made in the data center business.
Shares of Coforge had ended 1.2% higher on Thursday at ₹1,690. The stock is down 5.1% in the last one month.
For the December quarter, Coforge's revenue in US Dollar terms stood at $478.2 million, up 3.5% sequentially, and in-line with the CNBC-TV18 poll expectation of $475.5 million.
In rupee terms, Coforge reported revenue from operations of ₹4,188 crore, up 5.1% sequentially and largely in-line with the ₹4,206 crore projection from the CNBC-TV18 poll.
Earnings Before Interest and Tax (EBIT) for the quarter remained largely flat at ₹559.4 crore, while margins narrowed by 60 basis points to 13.4% from 14% in the previous quarter. The CNBC-TV18 poll had projected margins to narrow 80 basis points to 13.2%.
Coforge's revenue grew by 4.4% sequentially in constant currency terms, better than the 3.5% growth that analysts were working with. The company signed six large deals during the quarter, with total order intake at $593 million during the December period.
Executable order book for the company is now up 30% from last year at $1.72 billion, as per its investor presentation.
IT attrition at the end of the quarter stood at 10.9%, with the company also registering net additions of 445 resources during the quarter.
"The $2 billion core of data, cloud and AI-led engineering, that will be created after Coforge and Encora come together, sets us up for sustained outperformance in the years to come," Sudhir Singh, the CEO and Executive Director at Coforge said.
In addition to the results, the board of Coforge has also approved an interim dividend for its shareholders worth ₹4 per share, record date for which has been fixed as January 31, 2026.
Coforge was in the news recently after it acquired US-based Encora for over $2 billion. CEO Sudhir Singh had noted in an interaction with CNBC-TV18 back then, that the company is unlikely to add any new vertical or geography over the next 3-5 years. The company has already said that no new investments will be made in the data center business.
Shares of Coforge had ended 1.2% higher on Thursday at ₹1,690. The stock is down 5.1% in the last one month.
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