Mon. Dec 23rd, 2024

πŸš€ Coforge Stock Soars 8% After Solid Q2 Performance & Strong Order Book! πŸ’Ή

COFORGE

Shares of Coforge Ltd surged nearly 8% in early trade on October 23 following a strong Q2 earnings report that energized investor sentiment. Here’s the breakdown of their stellar performance:


Q2 Key Highlights:

  • Net Profit: Grew by 9% quarter-on-quarter, reaching β‚Ή255.20 crore (up from β‚Ή234.60 crore in Q1).
  • Revenue: Witnessed a massive 27.5% jump, hitting β‚Ή3,062 crore in Q2, compared to β‚Ή2,401 crore in the previous quarter.
  • Order Intake: Total order intake stood at $516 million, including three large deals. This marks the 11th consecutive quarter with an order intake above $300 million. πŸ’Ό

πŸ“Š Stock Performance:

  • Past 3 Months: Coforge has delivered impressive 18.5% returns.
  • Current Price (as of October 23): Shares were trading at β‚Ή7,295.95 on the NSE. πŸ’Ή

🌐 Strong Order Book:

Coforge’s order book, executable over the next 12 months, touched $1.3 billion, reflecting a 40% year-on-year growth. The company also added 13 new clients during the quarter, enhancing future growth prospects. ✨


πŸ› οΈ EBIT Margin:

  • EBIT Margin declined by 190 basis points sequentially, primarily due to the acquisition of Cigniti Technologies. Adjusting for this, the organic EBIT margin stood at 12.2%, slightly lower than 13.6% in Q1.

🌟 Positive Outlook:

Coforge’s management is optimistic about the upcoming quarters, projecting sustained growth due to their robust pipeline of deals and solid financial momentum. CEO Sudhir Singh highlighted strong dollar growth (+27% sequentially), organic business expansion, and further EBITDA improvements.

With a solid order book and strong client additions, Coforge is set to continue its growth streak in the near future! πŸŒ±πŸ“ˆ

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