Business · India Bureau
Coforge Q2 profit jumps 13% to Rs 588 crore, misses estimates
IT services firm Coforge reported sequential profit growth of 13.4% in the second quarter, though the results fell short of market expectations. Revenue climbed 11.6% sequentially to Rs 6,171 crore.
LSN India ·
Coforge Ltd posted consolidated net profit of Rs 588 crore for the second quarter, marking a 13.4% sequential increase from the previous quarter. The company's consolidated revenue rose 11.6% quarter-on-quarter to Rs 6,171 crore during the same period.
Despite the sequential gains, both the profit and revenue figures underperformed analyst consensus estimates. The shortfall raises questions about the pace of growth for the mid-sized IT services provider amid ongoing market challenges and client spending patterns.
The results reflect broader headwinds facing India's information technology services sector, which has grappled with modest demand growth and margin pressures. Several large peers have also reported mixed results in recent quarters as global economic uncertainty persists.
Coforge, which serves clients across financial services, healthcare, manufacturing and other sectors, will need to demonstrate stronger momentum in coming quarters to reassure investors of its growth trajectory.