Rising offshore revenue to be growth huge lever for years: Coforge CEO

The IT solutions provider has posted a consolidated net profit of Rs 220.6 crore for Q2FY23, up 36.6% YoY. Its revenue growth was driven by offshoring expansion

Offshore revenue has touched 50 per cent at Coforge Ltd and is set to become a lever of growth for years to come, indicating structural changes in the company's operating profile, said its chief executive officer (CEO) Sudhir Singh.

The IT solutions provider has reported a consolidated net profit of Rs 220.6 crore for Q2 FY23, an increase of 36.6 per cent year on year (YoY). The growth in the quarter was driven by offshoring expansion. The contribution of offshore IT revenue has grown to 49.8 per cent from 36 per cent two years back.

The offshore operation of an