Coforge Posts Robust Profit Growth Amid Strategic Acquisition

IT solutions giant Coforge reported an 11.7% year-on-year increase in consolidated net profit, reaching Rs 202.2 crore for the September quarter. A 34.5% rise in revenue was noted, credited partially to the acquisition of Cigniti. The workforce grew significantly, and an interim dividend was declared.

IT solutions company Coforge has announced a significant 11.7% year-on-year increase in its consolidated net profit for the quarter ending in September, reaching Rs 202.2 crore. This marks a rise from the previous year's Rs 181 crore, showcasing their strong financial performance.

The company's revenue for the quarter stood at Rs 3,062.3 crore, reflecting a 34.5% increase compared to Rs 2,276.2 crore in the corresponding period of the previous year. Coforge attributes this growth to a strategic acquisition and successful integration of Cigniti.

In addition to financial performance, the Noida-based firm expanded its workforce by 5,871 employees, including 4,430 from the Cigniti acquisition. Coforge's board also approved an interim dividend of Rs 19 per share, with shares trading 11.48% higher on BSE.