IT firm Coforge's Q4 net profit increases by 56.16% to Rs 207.7 crore

IT company Coforge on Thursday reported 56.16 per cent jump in consolidated net profit at Rs 207.7 crore for the fourth quarter ended March 31, 2022.

The company had logged a profit of Rs 133 crore in the same period a year ago.

Revenue from operations during the quarter increased to Rs 1,742.9 crore from Rs 1,281.5 crore in the corresponding quarter of 2020-21.

In the year ended March 31, 2022, profit increased by 45.23 per cent to Rs 661.7 crore from Rs 455.6 crore in 2020-21.

Annual consolidated revenue from operations rose about 38 per cent to Rs 6,432 crore from Rs 4,662.8 crore at the end of 2020-21.

Coforge in a statement said the firm expects around 20 per cent growth in fiscal year 2023.

"FY22 was a landmark year for the firm and the performance data speaks for itself. Revenue grew 38 per cent, EBITDA grew 42 per cent and PAT grew 45 per cent. The firm is now focused on carving an accelerated growth path to the USD 2 billion revenue milestone," Chief Executive Officer Sudhir Singh said.

The company's total order intake during the year was USD 1.15 billion, about Rs 8,677 crore.

In the quarter, Coforge said it had a total order book of USD 720 million, executable over the next 12 months. The order intake was USD 301 million. Coforge said it had the lowest attrition rate of 17.7 per cent in the industry.