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IT Consulting & Software company Coforge announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue for the quarter was USD 286.8 million and Rs 23,585 million
- Up 1.5% in Rs, 1.7% in USD and 1.9% in cc terms QoQ.
- Up 8.7% in Rs terms, 8.5% in USD terms and 9.0% in CC terms on a YoY basis.
- Adj. EBITDA margin for the quarter at 19.0%, sequentially up by 102 bps
- PAT for the quarter at Rs 2,237 million, was up 94.8% YoY in Rs terms.
FY24 Financial Highlights:
- Revenue at USD 1,119 million and Rs 91,790 million
- Up 13.3% in CC terms, up 14.5% in Rs and 11.7% in USD terms
- Adj. EBITDA margin at 17.6% for the year
- Adj. EBITDA at Rs 16,185 million, up 10.5% YoY
- PAT for the year at Rs 8,080 million, up 16.5% YoY
Sudhir Singh, Chief Executive Officer, Coforge, said, "FY24 was an exemplary year where the firm grew 13.3% in CC organic terms, thus becoming one of the very few firms across the industry that was able to deliver on the annual growth guidance given at the beginning of FY24. The USD 400 million TCV deal signed in Q4, the 56% YoY increase in order intake and the 102-bps sequential margin improvement in Q4 set us up strongly to deliver robust growth in FY25 with expanded margins.”
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