Coforge share price: The IT firm’s stock gained sharply in early trade a day after it reported Q2FY25 financial results.
Coforge shares surged nearly 12% following the release of its strong Q2FY25 earnings. By 10:50 am, the stock was trading 11.39% higher at Rs 7,569.95 on the Bombay Stock Exchange (BSE).
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The IT firm reported a 17% rise in net profit for the July-September quarter at Rs 212 crore, compared to Rs 181 crore in the same period last year. Revenue saw impressive growth, climbing 34% year-on-year to Rs 3,062 crore, up from Rs 2,276 crore.
Coforge also secured $516 million in new orders during the quarter, including three large deals, marking the 11th consecutive quarter of order intake exceeding $300 million. The company’s order book, executable over the next 12 months, now stands at $1.3 billion, reflecting a strong 40% year-on-year increase.
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Additionally, Coforge added 13 new clients this quarter.
CEO Sudhir Singh commented on the results, expressing optimism for continued growth, driven by a robust pipeline of large deals and a stronger order book. He also highlighted the successful integration of Cigniti, which has outperformed expectations in terms of synergies and margin expansion.
Coforge’s workforce grew significantly, increasing by 5,871 employees to a total of 32,483. The company’s attrition rate improved, dropping by 130 basis points year-on-year to 11.7%. The headcount boost included 4,430 employees from the recent Cigniti acquisition, while 1,441 employees were added organically.
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Employee benefit expenses rose 35% year-on-year to Rs 1,910 crore. Despite the strong performance, the company’s EBIT margin slipped by 14 basis points, landing at 11.4%.
Coforge’s board also declared a second interim dividend of Rs 19 per share, with the record date set for October 11.
Coforge shares have delivered over 53% returns in a year. Year-to-date, Coforge shares have risen 22%. The company currently has a market capitalisation of over Rs 50,000 crore.
