Shares of one of india’s leading Information Technology company jumps 3 percent after the company’s board releases its september ended Q2FY24 results and declares a second interim dividend of Rs. 19
At 12:55 p.m the shares of Coforge were trading at Rs. 5,123 up 0.60 percent from its previous day close price and the market capitalization of the company is Rs. 31,448.51 crores.
As per the company’s filing, Coforge has reported its business updates for quarter ended september (Q2FY24) and it is as follows
Revenue up 2.5 percent QoQ from Rs. 2,221 crores in Q1FY24 to Rs. 2,276 crores in Q2FY24 and it grew 16.2 percent YoY from Rs. 1,959 crores in Q2FY23 to Rs. 2,276 crores in Q2FY24.
Profit after tax grew 9.5 percent QoQ from Rs. 165 crores in Q1FY24 to Rs. 181 crores in Q2FY24 and it fell 10 percent YoY from 201 crores in Q2FY23 to 181 crores in Q2FY24 and the Adj.EBITDA Margin at 17.6 percent improves 160 bps QoQ.
Its order intake was at $313 million, seventh consecutive quarter of $300+ million deal wins and the Total order book executable over the next 12 months at $935 million, up 16.6% YoY.
In addition to this its board of directors have declared a second Interim Dividend of Rs. 19 per equity share for the financial year 2023-24 and the record date is fixed at November 02, 2023.
The company’s revenue grew 24.61 percent from Rs. 6,432 crores in FY22 to Rs. 8,014.6 crores in FY23, accompanied by increasing profits of Rs. 661.7 crores to Rs. 693.8 crores.
It has reported a return on equity (ROE) of 26.28 percent and a return on capital employed (ROCE) of 31.71 percent, this indicates that the company is making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 26.63 percent stake, the Domestic Institutional Investors hold 37.20 percent and the Foreign Institutional Investors (FII) hold 24.78 percent.
Written by: Bharath K.S
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