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Indian IT services firm Coforge reported a better-than-expected 86 per cent surge in second-quarter profit as client spending picked up across the sector.
Consolidated net profit rose to ₹376 crore in the quarter ended Sept. 30, above analysts' average expectation of ₹371 crore, according to data compiled by LSEG.
Revenue rose 31.7 per cent to ₹3,986 crore ($453.50 million), largely in line with analysts' estimate of ₹4,033 crore.
However, Coforge's deal wins for the quarter were marginally lower at $514 million from $516 million last year.
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Coforge's results come as larger rivals Tata Consultancy Services, Infosys and Wipro beat estimates for quarterly revenue and expect to see improving demand in the second half of the fiscal year.
Strong deal wins and clients' growing willingness to invest in AI projects are seen as key drivers for the industry.
Analysts also attributed realisations from Coforge's $1.5 billion deal with US client Sabre as a significant factor.
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