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Coforge Q4 Results: Revenue for Q4FY24 ₹2358.5 Crore, up 1.5% QoQ

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Synopsis:

In their Q4FY24, Coforge’s growth trajectory has hit a new high both quarter on quarter and year on year. With Adj. EBITDA margin for the quarter at 19.0%, up by 102 bps and PAT or Profit After Tax for the quarter at INR ₹223.7 Crores, up 94.8% YoY, Coforge indeed seems to be forging a more profitable path for the next financial year.

Introduction

Coforge is a very well-known global digital services and solutions provider. The company is known to use emerging technologies and their domain expertise to help deliver profitable business impact for its clients. Coforge understands the importance of focusing on select industries and making sure that it has a detailed understanding of the industry’s underlying processes. With the help of technologies such as Cloud, Data, Integration and Automation, Coforge’s main aim is to transform its client’s businesses into profitable enterprises. The company’s presence echoes across 21 countries with 26 delivery centers across nine of them. Coforge also maintains and promotes a non-discriminatory environment helping support people from all backgrounds, nationalities, cultures, genders, and orientations.

Explore: Coforge Limited Share Price

5 Key Financial Highlights

Coforge has performed extremely well in its fourth quarter in FY24. Here are some of the key highlights of the Coforge Q4 Results:

  • Revenue for Q4FY24 ₹2358.5 Crore, up 1.5% QoQ

  • Adj. EBITDA margin for the quarter at 19.0%, up by 102 bps

  • Profit After Tax for the quarter at INR ₹223.7 Crores, up 94.8% YoY

  • Revenue for FY24 at ₹9179 Crore, up 14.5%

  • PAT for FY24 at INR ₹808 Crores, up 16.5% YoY

Key Business Updates:

Apart from the major growth milestones that it achieved in Q4FY24, Coforge also had quite a few business updates in the fourth quarter. Here’s a look at some of them.

  • Coforge was honored with the ServiceNow 2024 Emerging Industry Partner of the Year – Worldwide award

  • The company was recognized as an Enterprise Innovator in the Airlines and Airports Digital Services 2024 RadarView by Avasant.

  • To add to this, Coforge also won the Silver at the Economic Times Human Capital Awards (ETHCA) 2024 for Excellence in Creating a Culture of Continuous Learning and Upskilling

  • The company is now looking forward to taking over Cigniti Technologies Limited after a definitive agreement was signed between the two companies.

  • LTM Attrition (excl. BPS) stood at 11.5%, improved 60 bps QoQ and 258 bps YoY.

Additional Read129 Indian Companies to Release Q4 Results

Profitability Analysis:

Coforge, in Q4FY24 has seen a huge jump in its revenue as well as its profit after tax. With a revenue of ₹2358.5 Crore, up 1.5% QoQ, an Adj. EBITDA margin at 19.0%, up by 102 bps and PAT or Profit After Tax at ₹223.7 Crores, up 94.8% YoY, Coforge indeed seems to be forging a more profitable path for the next financial year without a doubt. On top of that, the company has also performed extremely well in the entirety of FY24. With revenue for the year at ₹9179 Crore, up 14.5% and PAT at ₹808 Crores, up 16.5% YoY, the company seems to be headed in the right direction.

Additional ReadQuarterly Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Coforge (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

QoQ%

Q4FY23

YoY%

Total Income

2358.5

2323.3

1.5%

2170

8.7%

GM%

34.1%

33.1%

102 Bps

34.1%

-1 Bps

Adj EBITDA

447.3

417

7.3%

424.4

5.4%

Adj EBITDA%

19%

18%

102 Bps

19.6%

-59 Bps

PBT (before exceptional items)

285.6

294.4

-3.0%

154.6

84.7%

PBT %

12.1%

12.7%

-56 Bps

7.1%

498 Bps

PAT (After Minority Int.)

223.7

238

-6.0%

114.8

94.8%

PAT %

9.5%

10.2%

-76 Bps

5.3%

419 Bps

Source: Coforge Factsheet

The Future of Coforge

In FY24 Coforge has seen exemplary growth including the growth of their firm by 13.3% in CC organic terms. This has made the company one of the few firms in this industry that has been able to deliver on the annual growth guidance. The company also signed a deal with TCV deal in Q4, and it also saw a YoY growth of 56% in its order intake. To add to this Coforge also witnessed a 102-bps margin improvement in Q4 which has made the company confident that its growth in FY25 will only get better.

Additional ReadAnnual Results

Conclusion

With all the numbers in question in their Q4FY24, it can safely be said that Coforge has delivered a profitable result both quarter on quarter and year on year. Whether it is the company’s revenue of ₹2358.5 Crore, its Adj. EBITDA margin or its PAT or Profit After Tax for the quarter at INR ₹223.7 Crores, there is no doubt, that in the next financial year, the company will only work to top these numbers as best as it can.      

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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