Coforge Q1 FY’20 Revenue up 16.7% YoY

Order intake during the quarter at US$ 175 mn

 

Greater Noida, July 23 2019, Tuesday: Coforge Limited (NSE: Coforge), a leading global IT solutions organization, today announced its financial results for Q1 FY2019-20. The Company has reported consolidated revenue of Rs 962.7 crore and net profit of Rs 87.6 crore.

 

Q1 Highlights:

  • Revenues grew 16.7% YoY.
  • Profit after taxes up 2.0% YoY on reported basis, up 17.3% YoY after adjusting for non-recurring expenses.
  • Order intake of US$ 175 mn, marking the 9th consecutive quarter of sequential increase in order intake.

 

Qtr. performance at a glance

 

Particulars

Qtr. ended

Qtr. ended

Growth

Qtr. ended (Adjusted)

Growth

30-Jun-18

30-Jun-19

YoY

30-Jun-19

YoY

Rs. Cr

Rs. Cr

 

Rs. Cr

 

Consolidated Revenues

824.9

962.7

16.7%

962.7

16.7%

EBITDA

130.6

138.8

6.3%

162.3

24.3%

EBITDA Margin

15.8%

14.4%

- 142 bps

16.9%

103 bps

Profit After Tax

85.8

87.6

2.0%

100.6

17.3%

 

 

The quarter under review had one-time non-recurring expenses of Rs. 235 mn translating to a negative impact of 240 bps. Adjusted for that, the EBITDA margin for the quarter stood at 16.9%, an expansion of 103 basis points YoY, and PAT increased 17.3% YoY to Rs 100.6 crore.

In constant currency terms, BFS expanded 2.8% QoQ contributing to 16.5% of revenue, Travel & Transportation (TT) was up 5.9% QoQ contributing to 28.3% of revenue and Insurance grew 6.6% QoQ contributing 29.1% of overall revenues. Others segments collectively grew 1.5% QoQ and they now represent 27.0% of overall revenues.

Digital revenues grew 46% YoY contributing to 34% of the total revenues. Americas, EMEA, APAC and India contributed 49%, 35%, 11% and 5% of the revenue mix.

The Company secured fresh business of US$175mn during the quarter. The order executable over the next twelve months has also increased to US$395mn.

“We registered a good performance in Q1FY20 and the fundamentals of the business are strong,” said Mr. Sudhir Singh, Chief Executive Officer, Coforge Ltd.

Acknowledgements:

About Coforge

Coforge is a leading global IT solutions organization, enabling its clients to transform at the intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact. The Company focuses on three key verticals: Banking and financial services, Insurance, Travel and Transportation. This domain strength is combined with leading-edge capabilities in Data & Analytics, Automation, Cloud, and Digital.

With over 10,000 employees serving clients across Americas, Europe, Asia, and Australia, Coforge fosters a culture that promotes innovation and constantly seeks to find new yet simple ways to add value for its clients.

Learn more about Coforge at www.coforgetech.com

Safe Harbor

Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.