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As compared with Q4 FY23, the company's net profit and revenue were higher by 94.86% and 8.69%, respectively.
Profit before and exceptional items tax was at Rs 274 crore in March 2024 quarter, down 6.93% QoQ and up 32.43% YoY. The firm reported an exceptional profit of Rs 11.6 crore during the quarter and an exceptional loss of Rs 52.3 crore in Q4 FY23.
EBITDA increased 7.3% QoQ and 5.4% YoY to Rs 447.3 crore in the fourth quarter of FY24. EBITDA margin stood at 19% in Q4 FY24 as against 18% in Q3 FY24 and 19.6% in Q4 FY23.
In dollar terms, the company's revenue was $286.8 million, up 1.7% QoQ and up 8.5% YoY. In constant currency (CC) terms, revenue was up by 1.9% QoQ.
In Q4 FY24, the company's order intake was $774 million. Total order book executable over the next 12 months was at $1,019 million, up 17.26% YoY. 8 new client logos were added during the quarter.
Headcount at the end of the quarter was at 24,726. LTM attrition improved to 11.5% in Q4 FY24, improved 60 bps QoQ and 258 bps YoY.
Sudhir Singh, chief executive officer, Coforge, said, ?FY24 was an exemplary year where the firm grew 13.3% in CC organic terms, thus becoming one of the very few firms across the industry that was able to deliver on the annual growth guidance given at the beginning of FY24. The $400 Mn TCV deal signed in Q4, the 56% YoY increase in order intake and the 102-bps sequential margin improvement in Q4 set us up strongly to deliver robust growth in FY25 with expanded margins.?
Meanwhile, the company?s board has declared fourth interim dividend of Rs 19 per equity share for FY24 and the record date for the same is fixed on 15 May 2024.
Further, Coforge has signed a definitive agreement to acquire up to around 54% share in Cigniti Technologies at Rs 1,415 per share. The firm believes that acquisition of Cigniti will not only help it grow to a $2 billion by FY27, but equally importantly ensure that the Coforge?s operating margins improve by 150-200 bps by FY27 itself. The acquisition is expected to be completed by Q2FY25.
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. The firm has a presence in 21 countries with 26 delivery centers across nine countries.
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