Coforge has announced a consolidated net profit of Rs 202.3 crore for Q2 FY24, reflecting an 11.7 percent year-on-year increase. The company's revenue from operations surged 34.5 percent to Rs 3,062.3 crore, aided by the successful integration of Cigniti. An interim dividend of Rs 19 per share has also been recommended.
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- Q2 net profit increased to Rs 202.3 crore, an 11.7 percent rise from the previous year.
- Revenue from operations reached Rs 3,062.3 crore, a 34.5 percent year-on-year increase.
- Coforge`s board recommended an interim dividend of Rs 19 per share.
Coforge, a prominent IT solutions provider, has reported an impressive growth in its financial performance for the second quarter of the fiscal year, with a nearly 12 per cent increase in net profit. According to a stock exchange filing, the company achieved a consolidated net profit of Rs 202.2 crore for the quarter ending September, marking an 11.7 per cent rise from Rs 181 crore reported during the same period last year.
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In addition to these promising financial results, Coforge's board has recommended an interim dividend of Rs 19 per share, with the record date for this payout set for October 11, 2024. This move reflects the company’s commitment to providing returns to its shareholders.
Coforge operates as a global digital services and solutions provider, maintaining a presence in 21 countries with 25 delivery centres spread across nine nations. The company’s shares demonstrated a positive response in the stock market, trading at 11.48 per cent higher at Rs 7,575.75 apiece on the Bombay Stock Exchange on Wednesday.
This strong performance underscores Coforge's resilience and capacity for growth within the competitive IT sector, positioning it for further success in the coming quarters.
(With inputs from PTI)
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