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Coforge share hits all-time high on robust Q4 earnings
Coforge share hit all-time high of Rs 3,448 against previous close of Rs 2,892.45 on BSE
BusinessToday.In | May 6, 2021 | Updated 16:13 IST
Coforge stock stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Coforge share rose over 19 percent intraday on May 6 after the company declared its Q4 earnings. The IT stock hit all-time high of Rs 3448 against previous close of Rs 2,892.45 on BSE.
The share of the firm , formerly known as NIIT Technologies, has gained 20.79% in the last 2 days. Coforge stock stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Later, the share closed 17.10% or Rs 504 higher at Rs 3,397 on BSE. Market cap of the firm stood at Rs 20,522 crore.
Coforge climbed 13.11% to Rs 3,271.70 after the company s consolidated net profit rose 9% to Rs 133 crore on 6% increase in net sales to Rs 1,261.50 crore in Q4 FY21 over Q3 FY20.
The firm has reported continued growth-led momentum, with consolidated revenue growing by 7.1% in dollar terms to $172.1 million during Q4 FY21. In constant currency terms, revenue grew 5.1% over the preceding quarter. In rupee terms, revenue rose 6% sequentially and up by 13.7% year-on-year (Y-o-Y) to Rs 1261.50 crore during Q4 FY21.
The EBITDA margin (before ESOPs and acquisition related costs) for the quarter under review stood at 18%, as growth-driven operating leverage was able to offset the impact of a one-time bonus payout during the quarter to a majority of employees who provided support to the firm s operations and business during the pandemic. Coforge recently announced the acquisition of a controlling interest in SLK Global Solutions, and expenses related to that transaction are partly reflect
Coforge Q4 net profit jumps 17% to Rs 133 crore
Coforge Q4 net profit jumps 17% to Rs 133 crore
New Delhi, May 6: IT firm Coforge Ltd, formerly known as NIIT Technologies, on Thursday reported a 17 per cent rise in consolidated net profit at Rs 133 crore in the three months ended March 2021.
The company had posted a net profit of Rs 113.6 crore in the year-ago period, Coforge said in a regulatory filing.
Its consolidated revenue from operations rose 13.7 per cent to Rs 1,261.5 crore in the fourth quarter of the last fiscal. The same stood at Rs 1,109.3 crore in the year-ago period.
“The company is planning for an organic growth of at least 17 per cent in constant currency terms during FY’22 and an expansion of EBITDA margin (excluding ESOP and acquisition related costs) from 18 per cent in FY’21 to 19 per cent in FY’22,” Coforge said in a statement.
Excelsior Sports Correspondent
JAMMU, Apr 29: Vriddhi Royals trounced Elite Tigers by 51 runs in a thrilling contest and lifted the title trophy of 3rd Police Public Cricket Premier League (PPCPL), played at KC Sports Club, here today.
Earlier, in the summit clash, Vriddhi Royals won the toss and elected to bat first and scored 159 runs for the loss of six wickets in the stipulated 15 overs. Arya made highest 37 runs, while Dikhshant scored 35 and Satyam contributed 34 runs. From bowling side, Dhruv Parmar took two important wickets while Sukhman and Abhay Tonday claimed one wicket each.
In reply, Elite Tigers managed to score 108 runs for the loss of eight wickets and lost the match by 51 runs. Musaif played a good innings of 71 runs, while Shivansh made 15 runs. From bowling side, Vishal took three wickets, whereas Vanshaj and Prince Rana claimed one wicket each.