Revenue from operations stood at Rs 2,170 crore, up 24.50% from Rs 1,742.9 crore in the corresponding quarter a year ago, the company said in an exchange filing.
The company’s revenue crossed the $1 billion milestone. The IT services firm said it would gift all its employees Apple iPads to celebrate the milestone.
“We believe that our performance during the quarter was marked by two key achievements. The first was a quarterly sequential US$ growth of 5.0%. The second major landmark has been the firm crossing the US$ one billion revenue mark. Our performance heading in to FY24 sets us up well to deliver robust growth.” Sudhir Singh, Chief Executive Officer, Coforge said.
For FY24, the firm issued an annual revenue growth guidance of 13%-16% in constant currency terms, expects a gross margin increase of about 50 bps and adjusted EBITDA margin to be at similar levels as FY23. The Board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be 9th May 2023.
Coforge said the total order book executable over the next 12 months stands at $869 million, up 20.7% YoY. Order intake was at $301 million, while 10 new client logos were added during the quarter.
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The fiscal year-ended headcount was at 23,224, which included net addition of 719 people during the quarter. In the last 12 months, attrition was at 14.1%, improving 172 basis points QoQ and 362 basis points YoY.
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