Coforge Q2 Profit Rises 12% to Rs 202.3 Crore

New Delhi, Oct 23 (PTI) IT solutions company Coforge reported an 11.7 per cent year-on-year increase to Rs 202.2 crore in consolidated net profit for the quarter ended in September.

It had posted a net profit (attributable to owners of the company) of Rs 181 crore in the year-ago period, according to a stock exchange filing.

Revenue from operations for the quarter under review stood at Rs 3,062.3 crore, a 34.5 per cent rise from Rs 2,276.2 crore in Q2 FY24.

Its profit and revenue jumped 51.8 per cent and 27.5 per cent, respectively.

The Noida-headquartered firm added 5,871 staff during the quarter, including 4,430 from its acquisition of Cigniti. This brings its total employee count to 32,483.

"The growth and the margin expansion at Cigniti are a preview of sustained growth and further increases in margin to follow. We have operationally fully integrated the Cigniti team and the synergies have exceeded even our expectations," said Sudhir Singh, CEO and Executive Director, Coforge.

The company's board recommended an interim dividend of Rs 19 per share, and the record date for this payout was October 11, 2024, according to the filing.

A global digital services and solutions provider, Coforge has a presence in 21 countries with 25 delivery centres across nine countries

Shares of Coforge were trading 11.48 per cent higher at Rs 7575.75 apiece on the BSE on Wednesday.