Coforge shares crash 10% as Jefferies halves target price following Q4 miss

Shares of Coforge, which was earlier known as NIIT Technologies, fell nearly 10% on Friday to the day's low of Rs 4,505 on BSE after the IT company reported weak Q4 results in which both revenue and margin missed estimates.
03-05-2024
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Coforge Ltd - 532541 - Announcement under Regulation 30 (LODR)-Public Announcement-Open Offer

Intimation under Regulation 30 - Public Announcement - Open Offer
03-05-2024
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Coforge Ltd - 532541 - Intimation Of Transcript Of Earnings Conference Call

Intimation of Transcript Earnings Call
02-05-2024
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Q4FY24 Quarterly & FY24 Annual Result Announced for Coforge Ltd.

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.” Result PDF
02-05-2024
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