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Coforge Limited Q2FY21 consolidated net profit higher at Rs. 129.7 crore
Posted On : 2020-10-22 19:08:21( TIMEZONE : IST )
NIIT TECHNOLOGIES LTD. has reported financial results for the period ended September 30, 2020.
Financial Results (Q2 FY20-21) - QoQ Comparison
The company has reported total income of Rs.1157.6 crores during the period ended September 30, 2020 as compared to Rs.1064.6 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.129.7 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.102.4 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.19.61 for the period ended September 30, 2020 as compared to Rs.12.71 for the period ended June 30, 2020.
| Financials | Q2 FY20-21 | Q1 FY20-21 | % Change |
| Total Income | ₹ 1157.6 crs | ₹ 1064.6 crs |  8.74% |
| Net Profit | ₹ 129.7 crs | ₹ 102.4 crs | 26.66% |
| EPS | ₹ 19.61 | ₹ 12.71 | 54.29% |
Financial Results (Q2 FY20-21) - YoY Comparison
The company has reported total income of Rs.1157.6 crores during the period ended September 30, 2020 as compared to Rs.1048.7 crores during the period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.129.7 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.116.4 crores for the period ended September 30, 2019.
The company has reported EPS of Rs.19.61 for the period ended September 30, 2020 as compared to Rs.19.12 for the period ended September 30, 2019.
| Financials | Q2 FY20-21 | Q2 FY19-20 | % Change |
| Total Income | ₹ 1157.6 crs | ₹ 1048.7 crs | 10.38% |
| Net Profit | ₹ 129.7 crs | ₹ 116.4 crs | 11.43% |
| EPS | ₹ 19.61 | ₹ 19.12 | 2.56% |
Financial Results (6 months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.2222.2 crores during the 6 months period ended September 30, 2020 as compared to Rs.2032 crores during the 6 months period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.232.1 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.197.6 crores for the 6 months period ended September 30, 2019.
The company has reported EPS of Rs.32.23 for the 6 months period ended September 30, 2020 as compared to Rs.33.17 for the 6 months period ended September 30, 2019.
| Financials | Half-Year Ended FY20-21 | Half-Year Ended FY19-20 | % Change |
| Total Income | ₹ 2222.2 crs | ₹ 2032 crs | 9.36% |
| Net Profit | ₹ 232.1 crs | ₹ 197.6 crs | 17.46% |
| EPS | ₹ 32.23 | ₹33.17 |  -2.83% |
"The 8.1 percent 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" said Mr. Sudhir Singh, Chief Executive Officer, Coforge Ltd.
The Insurance vertical expanded 13.6% QonQ contributing to 34% of the quarter's total revenue. The BFS business grew 8.5% sequentially and contributed to 17% of total revenue. The Travel vertical recorded a quarteron-quarter growth of 6.0% and now contributes to 19% of total Q2 revenue. Other segments collectively grew 6.7% quarter-on-quarter and they now represent 30% of the overall revenue.
Among geographies, Americas grew by 11.9% sequentially contributing 48% to the revenue mix, EMEA grew by 7.3% contributing 36% to the revenue mix and Rest of the World grew by 5.6% contributing 16% to the revenue mix.
The order intake during the quarter was exceptionally strong, with two large deal wins. Fresh business of US$ 201 million was secured during the quarter under review, which is higher on both QonQ and YonY basis. A total of 12 new clients were added during the quarter. On the back of this continued deal signing momentum, the order book executable over the next twelve months increased to US$489 mn, representing a growth of 21% YonY.
The firm also saw its attrition improve further to 10.5%, among the best in the industry. Total employee strength increased to 11,162 at the end of the quarter, an increase of 564 people QonQ. The total headcount is now at a slightly higher level than at the end of Q4FY'20 when the Covid-19 pandemic took effect.
Shares of Coforge Limited was last trading in BSE at Rs.2490 as compared to the previous close of Rs. 2513.4. The total number of shares traded during the day was 13298 in over 2051 trades.
The stock hit an intraday high of Rs. 2560 and intraday low of 2434.35. The net turnover during the day was Rs. 33149829.
