Q3FY23 Result Update - Coforge Ltd - ICICI Direct

Coforge reported strong Q3FY23 results.

- Revenue grew 3.7% QoQ in CC terms and 1.9% QoQ in dollar terms
- Adjusted EBITDA margin was flat QoQ at 17.6%
- Highest ever TCV of US$345mn, up 13.5% QoQ

Key triggers for future price performance

- Continued momentum in order intake & winning large deals, healthy order book to drive growth

- Bottoming out of travel vertical (in the US), preferred partnership with Fortune 500 insurance & Tier 1 banking companies, recent acquisition to drive 17.6% revenue CAGR over FY22-25E

- A 170 bps improvement in margins over FY22-25E due to offshoring, higher fresher additions and utilisation improvement

For details, click on the link below: Link to the report

Shares of Coforge Limited was last trading in BSE at Rs. 4100.55 as compared to the previous close of Rs. 3966.40. The total number of shares traded during the day was 45395 in over 5665 trades.

The stock hit an intraday high of Rs. 4250.00 and intraday low of 4002.10. The net turnover during the day was Rs. 189082698.00.

Source : Equity Bulls

Keywords

Coforge INE591G01017 Q3FY23 ResultUpdate ICICIDirect