Coforge Limited on Monday posted third quarter profit for the financial year 2023-24 at Rs 238.00 crore, up 4.3 per cent on-year in comparison to Rs 228.20 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 2323.30 crore, up 13 per cent as against Rs 2055.80 crore during the third quarter of FY23. The company EBITDA margin stood at 17.3 per cent, improved by 201 bps QoQ.
The Board of Directors has also declared third interim dividend of Rs 19 per equity share of the Company having face value of Rs 10 each fully paid-up, for the financial year 2023-24 and February 05, 2024, has been fixed as record date for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend.
Coforge recorded an order intake of $354 million, which was the eight consecutive quarters reporting a $300+ million deal wins. Total order book executable over the next 12 months was at $974 million, up 15.8 per cent on-year. It said that 7 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. The company reported LTM attrition at 12.1 per cent.