Net profit declines 10% to Rs 181 cr, revenue up 16%
IT company Coforge on Thursday posted a 10 per cent year-on-year decline in consolidated net profit for the September quarter at Rs 181 crore, partly on account of a one-time increase in ESOP costs.
The IT solutions company reaffirmed its 2023-24 revenue growth guidance of 13-16 per cent.
Consolidated Profit After Tax (PAT) for the second quarter of the current fiscal was at Rs 181 crore, 10 per cent lower than the year-ago period. However, the PAT for the quarter was 9.5 per cent higher when compared sequentially.
The net profit (attributable to owners) was Rs 201.1 crore in the year-ago period.
Revenue from operations came in at Rs 2,276.2 crore in the quarter under review, rising over 16 per cent from Rs 1,959.4 crore in the corresponding period of th...