The IT firm reported a 47.40% growth in consolidated net profit to Rs 122.20 crore on a 9.14% increase in net sales to Rs 1,153.70 crore in Q2 September 2020 (Q2FY21) over Q1 June 2020 (Q1FY21).
Consolidated profit before tax (PBT) stood at Rs 152.50 crore in Q2FY21, rising 40.03% from Rs 108.90 crore in Q1FY21. Total tax expense advanced 7.31% to Rs 41.10 crore in Q2FY21 over Rs 38.30 crore in Q1FY21. The Q2 result was announced after trading hours yesterday, 22 October 2020.
On a sequential basis, consolidated revenue grew 9.1% over the preceding quarter in rupee terms, 8.1% in constant currency terms and 10.7% in dollar terms.
Consolidated EBITDA jumped 20.2% to Rs 217.20 crore in Q2FY21 as against Rs 180.60 crore in Q1FY21. EBITDA margin improved to 18.8% in Q2FY21 from 17.1% in Q1FY21. Consolidated PAT margin stood at 10.5% in Q2FY21 over 7.6% in Q1FY21.
Coforge recorded $201 million order intake in the quarter leading to $489 million of firm business executable over next twelve months.
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Sudhir Singh, the chief executive officer (CEO) of Coforge, said: "The 8.1% sequential growth in constant currency terms came on the back of growth across all verticals, all geos and all account-sized based cuts for the firm. The sharp sequential increase in EBITDA, in order intake and in order executable is a testament to the tenacity of and the consistent execution delivered by Team Coforge despite the pandemic induced headwinds. As organizations pivot towards data, cloud and AI led transformation the space for innovative and agile service providers in the broader tech services sandbox continues to expand."
Net additions in employee count stood at 564 in Q2FY21 as against (558) in Q1FY21 and 307 in Q4FY20. Attrition rate was at 10.5% in Q2FY21 as against 11.84% in Q1FY21 and 11.75% in Q4FY20.
Shares of Coforge fell 0.71% to Rs 2,438.45 on BSE. Coforge, formerly NIIT Technologies, is an information technology (IT) solutions company. The principal business activity of the company is computer program consultancy and related services. The firm is engaged in application development and maintenance, managed services, cloud computing and business process outsourcing.
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