Coforge's Impressive Growth: A Year of Robust Gains in IT Solutions

Coforge has reported a 10% growth in adjusted net profit to Rs 268 crore for the recent December quarter. Despite a dip in profit attributable to owners, the IT firm is confident about sustained growth in the upcoming year, supported by strong order book and broad-based growth.

Coforge, an IT solutions company, recorded a 10% increase in adjusted net profit, reaching Rs 268 crore for the December quarter. The company's CEO, Sudhir Singh, expressed assurance that robust growth would be sustained in the coming year, driven by significant deals and strong order books.

While the profit attributable to Coforge's owners decreased to Rs 215.5 crore from Rs 238 crore in the previous year, the decline was attributed to minority interest linked to the company's 54% ownership in Cigniti Technologies. Coforge plans to merge with Cigniti, effective April 1, 2025. The adjusted profit after tax excluding minority interests showed a year-on-year growth of 10.3%.

Coforge's revenue for the quarter stood at Rs 3,318.2 crore, marking an 8.4% quarter-on-quarter rise and a 40.3% year-on-year increase in constant currency terms. Confident about future prospects, the company highlighted its broad-based industry growth and improved operational execution as drivers of margin expansion.

(With inputs from agencies.)