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Informist, Tuesday, May 5, 2026

 

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--Coforge Jan-Mar consol net profit INR 6.12 bln 
--Analysts saw Coforge Jan-Mar consol net profit at INR 4.38 bln 
--Coforge Jan-Mar consol revenue INR 44.50 bln 
--Analysts saw Coforge Jan-Mar consol revenue at INR 44.56 bln 
--Coforge Jan-Mar consol net profit INR 6.12 bln vs INR 2.50 bln qtr ago 
--Coforge Jan-Mar consol revenue INR 44.50 bln vs INR 42.32 bln qtr ago 
--Coforge FY26 consol net profit INR 15.56 bln vs INR 8.12 bln year ago 
--Coforge FY26 consol revenue INR 164.03 bln vs INR 120.73 bln year ago 
--Coforge Q4 consol Americas revenue INR 25.25 bln vs INR 23.97 bln qtr ago 
--Coforge Q4 Europe, W Asia, Africa sales INR 12.58 bln vs INR 11.95 bln QoQ 
--Coforge Q4 consol rest of the world sales INR 6.7 bln vs INR 6.40 bln QoQ 
--Coforge Q4 consol revenue up 2% on qtr in constant currency terms 
--Coforge Q4 consol revenue up 28.7% on year in constant currency terms 
--Coforge Jan-Mar consol EBIT INR 7.37 bln, up 22.2% on qtr 
--Coforge Jan-Mar consol EBIT margin 16.6%, up 231 bps on qtr 
--Coforge Jan-Mar order intake $648 mln 
--Coforge: Signed five large deals in Jan-Mar 
--Coforge 12-mo executable order book $1.75 bln on Mar 31, up 16.4% on yr 
--Coforge net added 436 employees in Jan-Mar; total headcount at 35,777 
--Coforge Jan-Mar trailing 12-mo attrition 10.8% vs 10.9% qtr ago 
--Coforge Jan-Mar utilisation 82.5% vs 81.7% qtr ago 
--Coforge: FY27 EBIT margin to be reflective of Q4 exit than FY26 performance 
 

 

By Shakshi Jain and Prateem Rohanekar

 

NEW DELHI/MUMBAI – Coforge Ltd. on Tuesday reported a sharp sequential rise in its consolidated net profit for the March quarter as total expenses of the company grew more slowly than the revenue. The company's top line improved by mid-single digits quarter-on-quarter in Jan-Mar. While the top line for the reporting quarter was largely in line with analysts' consensus estimate, the bottom line surpassed the Street's expectation by a wide margin.

 

Coforge's bottom line returned to sequential growth in Jan-Mar after recording a double-digit decline in the trailing quarter. Meanwhile, its revenue grew at the slowest pace in four quarters.

 

The digital services provider's consolidated net profit jumped nearly 145% sequentially to INR 6.12 billion in the March quarter. On a year-on-year basis, the bottom line was up over 134%. Analysts had expected the company to report a net profit of INR 4.38 billion for the quarter.

 

The company's consolidated revenue from operations grew a little over 5% sequentially and around 30% on year to INR 44.50 billion. This was largely in line with the analysts' estimate of INR 44.56 billion. The company recorded sequential revenue growth across the geographies in which it operates during the quarter.

 

The company's consolidated bottom line for Jan-Mar was bolstered by a deferred tax reversal of INR 1.53 billion arising from the amalgamation scheme tied to Cigniti Technologies Ltd. "Consequent to the amalgamation, depreciation on customer relationship intangible assets has become tax-deductible in the hands of the company. Accordingly, the deferred tax liability recognised earlier in the consolidated financial results at the time of acquisition has been reversed during the quarter and credited to the consolidated statement of profit and loss," the company said. 

 

With the scheme coming into effect, the non-controlling interest in Cigniti Technologies has been derecognised and is to be settled through the issuance of equity shares in accordance with the approved share exchange ratio, with the balance adjusted to capital reserve, as per the company.

 

Shareholders of Cigniti will be entitled to receive one share of Coforge for each share of Cigniti Technologies they hold, with the record date set for May 16. The proposal to pay dividends has been deferred to the next board meeting, the company said.

 

Coforge reported three exceptional expenses during the March quarter, which aggregated to INR 536 million. The company incurred these expenses due to legal costs arising from a dispute, the impact of implementing Labour Codes, and the acquisition of Encora. The company's net profit for the quarter, excluding exceptional items, would have been INR 6.66 billion.

 

Revenue from the Americas, the company's largest market, grew roughly in line with the company's overall revenue growth at 5.3% sequentially to INR 25.25 billion in Jan-Mar. This market accounted for nearly 57% of the company's revenue for the reporting quarter.

 

The company's revenue from Europe, West Asia, and Africa also grew nearly 5.3% sequentially to INR 12.58 billion. Coforge's sales for the reporting quarter from the rest of the world were INR 6.68 billion, up 4.4% sequentially. Coforge's revenue for the reporting quarter in constant currency terms was up 2% sequentially and up nearly 29% on-year. 

 

For the March quarter, the company reported earnings before interest and tax of INR 7.37 billion, up 22% sequentially. The company's EBIT margin for the reporting quarter was 16.6%, up 231 basis points sequentially. The company said its EBIT margin in 2026-27 (Mar-Apr) will reflect the March quarter margin performance rather than its FY26 performance.

 

Coforge's fresh order intake for the quarter was $648 million, the company said. It signed five large deals during the March quarter. The company's 12-month executable order book was at $1.75 billion as of Mar. 31, up 16.4% from a year ago. 

 

The company net added 436 employees in the March quarter, taking its total headcount to 35,777. Its 12-month attrition in the quarter was 10.8%, down 10 basis points sequentially. The company's utilisation for the March quarter was 82.5%, up 80 basis points sequentially.

 

Coforge's net profit for FY26 was INR 15.56 billion, up nearly 92% from a year ago. The company's revenue for the year was INR 164.03 billion, up nearly 36% from a year ago. Tuesday, Coforge's shares ended 1.5% higher at INR 1,168.80 on the National Stock Exchange.  The company announced its results after market hours.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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