Rs 19/Share Dividend: Mid Cap IT Stock Declares 31.5% QoQ Surge In PAT

Mid cap leading global IT Solutions company, Coforge Ltd declared its financial results for the quarter ended December 31, 2024 and interim dividend today. Last trading price of Coforge shares on BSE is Rs 6277.75 per share (as on January 20, 2024). Board of Directors of Coforge Ltd approved third interim dividend of Rs 19/- per equity share having face value of Rs 10/- each for the FY 2023-24. The company fixed February 5, 2024 as the record date for interim dividend. Check details pertaining to Coforge interim dividend and results:

Coforge Declares Third Interim Dividend, Fixes Record Date: As per the BSE filing of the company dated January 22, 2024, "The Board of Directors at their meeting held today on January 22, 2024, has declared Third Interim Dividend of Rs. 19/- (Rupees Nineteen only) per Equity Share of the Company having face value of Rs. 10/- each fully paid-up, for the Financial Year 2023-24 and February 05, 2024, has been fixed as Record Date for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend."

Coforge Results: The exchange filing of the company stated, "The Company reported strong operating and financial performance marked by robust growth, margin expansion and continued business momentum in a seasonally weak quarter."

It reported revenue for the quarter at INR 23,233 million and $282 million. Revenue surged QoQ by 1.8% in constant currency, 1.4% in USD and 2.1% in INR terms and Revenue soared YoY by 12.0% in CC, 12.0% in USD and 13.0% in INR terms. The company announced EBITDA margin at 17.3%, improved by 201 bps QoQ while adjusted EBITDA margin stood at 18%, improved by 39 bps QoQ. Coforge's consolidated profit after tax (PAT) for Q3 declared at INR 2,380 million, up 31.5% Q-o-Q.

As per the BSE filing of Coforge, "Order intake was $354 million, eight consecutive quarters of $300+ million deal wins. Total order book executable over the next 12 months was at $974 million, up 15.8% YoY as 7 new clients were added during the quarter. LTM attrition at 12.1%."

"Coforge this year is likely to be one of the very few firms that gave a clear growth guidance at the beginning of the year and shall deliver within that revenue guidance range. Our ability to deliver on an annual revenue guidance commitment in such a tough year and the fact that at the end of Q3 our YTD organic cc revenue growth is 14.7 percent is a testament to the tenacity of Team Coforge and in our ability to execute against plans" said Sudhir Singh, Chief Executive Officer, Coforge Ltd.

Coforge Shares Performance & Return: The 52-week high price of Coforge shares on BSE is quoted at Rs 6,788.00 per share and 52-week low price is quoted at Rs 3565.20 per share, respectively. The company has a market capitalisation of Rs 38,766.64 crore. Coforge shares witnessed a decline of over 4% in last 1-week. The scrip soared 26% in last 3-months, jumped 30% in last 6-months, gained 53% in last 1-year, and offered surge of 18% in last 2-years. Coforge shares rallied 139% in last 3-years and gained 411% in last 5-years.

Coforge About: Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises.

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