Coforge Q1 Revenue Up 8.1% EBITDA up 23.3% YoY
Coforge Q1 Revenue Up 8.1% FY25 EBITDA increased by 23.3% YoY to ₹49.6 crore with a margin of 17%, up 210 bps; adjusted EBITDA was ₹52.0 crore with a margin of 17.9%.
by Damodharan N
Updated Jul 24, 2024
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Table of Content
Coforge reported a strong performance in Q1 FY25, with an EBITDA margin of 17%, up 210 basis points year-over-year (YoY). The adjusted EBITDA margin for the quarter stood at 17.9%, marking a significant 20.9% increase YoY.
Key financial highlights for Q1 FY25 compared to Q4 FY24 and Q1 FY24 include:
- Adjusted EBITDA: ₹52.0 crore, down 4.4% from ₹54.4 crore in Q4 FY24, but up 19.9% from ₹43.4 crore in Q1 FY24. The adjusted EBITDA margin was 17.9% in Q1 FY25, compared to 19.0% in Q4 FY24 and 16.0% in Q1 FY24.
- EBITDA: ₹49.6 crore, down 4.0% from ₹51.7 crore in Q4 FY24, but up 22.2% from ₹40.6 crore in Q1 FY24. The EBITDA margin was 17.0% in Q1 FY25, compared to 18.0% in Q4 FY24 and 14.9% in Q1 FY24.
Sudhir Singh, CEO of Coforge Ltd, commented, “FY25 has started on a strong note with a healthy increase in EBITDA margins by 210bps over last year and an OCF of USD 23.2 million. A very strong executable order book, backed by the highest ever headcount addition, sets us up for continued growth ahead.”
Source: Here
Coforge Q1 FY2024 Results
Coforge Limited (NSE: COFORGE), a leading global IT solutions organization, has reported impressive financial results for the quarter ending June 30, 2024 (Q1FY25).
Financial Highlights:
- Revenue: INR 24,008 million (USD 291.4 million), up 1.6% QoQ and 8.1% YoY in INR terms.
- EBITDA Margin: 17%, a significant increase of 210 basis points YoY.
- Normalized PAT: INR 2,285 million, up 28.2% YoY.
- Cash Flow from Operations: USD 23.2 million.
- Interim Dividend: The Board has recommended a dividend of INR 19/- per share, with a record date of August 2, 2024.
Business Highlights:
- Order Intake: USD 314 million, marking the tenth consecutive quarter of over USD 300 million in order intake.
- New Clients: 10 new clients added.
- Headcount: 26,612 employees as of June 30, 2024, with a net addition of 1,886 employees, reflecting a 7.6% increase QoQ.
- IT Attrition Rate: 11.4%, one of the lowest in the IT services industry.
Strategic Moves:
- Acquisition: Coforge acquired a 28% stake in Cigniti Limited and revamped its board.
- Order Book: The order book executable over the next 12 months stands at USD 1,070 million, a 19.3% YoY growth.
Awards and Recognitions:
- ServiceNow 2024 Emerging Industry Partner of the Year – Worldwide Award
- Intelligent Automation Award from Pega at PegaWorld iNspire 2024
- Market Maker Partner of the Year award at PegaWorld iNspire 2024
- 2024 Standard of Excellence Customer Award from Duck Creek Technologies at Formation ’24
- MuleSoft “Top Partner of the Year” Award from Salesforce for the 10th consecutive year
- Certified as ‘Great Place To Work’ for the fourth consecutive year
- Recognized as ‘Most Preferred Workplace’ by Marksman Daily for the third consecutive year
|
Category |
Q1 FY25 |
Q4 FY24 |
Q1 FY24 |
|
Revenue and Revenue Growth |
|||
|
Q-o-Q CC Revenue Growth |
1.6% |
1.9% |
2.7% |
|
Revenue (USD Mn) |
291 |
287 |
272 |
|
Q-o-Q Growth |
1.6% |
1.7% |
2.8% |
|
Y-o-Y Growth |
7.2% |
8.5% |
13.9% |
|
Revenue (INR Mn) |
24,008 |
23,585 |
22,210 |
|
Q-o-Q Growth |
1.8% |
1.5% |
2.4% |
|
Y-o-Y Growth |
8.1% |
8.7% |
21.4% |
|
Hedge Gain/(Loss) - INR Mn |
9 |
(7) |
(106) |
|
Profitability |
|||
|
Adj. EBITDA Margin |
17.9% |
19.0% |
16.0% |
|
Cash Flow |
|||
|
OCF ($ Mn) |
23.2 |
75.4 |
(20.5) |
|
Order Book (USD Mn) |
|||
|
Fresh Order Intake |
314 |
774 |
531 |
|
Americas |
126 |
627 |
155 |
|
EMEA |
96 |
102 |
346 |
|
Rest of World |
92 |
46 |
30 |
|
Executable Order Book over Next 12 Months |
1,070 |
1,019 |
897 |
Coforge’s improved YoY performance demonstrates its continued growth and operational efficiency.
Coforge
Coforge is a global digital services and solutions company that uses emerging technologies and deep industry knowledge to make a real impact for its clients. It specializes in specific industries, understanding their processes well, and partners with top platforms to offer a unique perspective.
Coforge focuses on product engineering and uses Cloud, Data, Integration, and Automation technologies to transform businesses into intelligent, high-growth enterprises. Its proprietary platforms support crucial business processes in its main sectors. Coforge operates in 21 countries with 25 delivery centers across nine countries.
Coforge Q1 EBITDA up 23.3% YoY - FAQs
1. What was Coforge’s EBITDA margin in Q1 FY25?
Coforge’s EBITDA margin in Q1 FY25 was 17%.
2. How much did the EBITDA margin increase year-over-year in Q1 FY25?
The EBITDA margin increased by 210 basis points year-over-year.
3. What was the adjusted EBITDA margin for Q1 FY25?
The adjusted EBITDA margin for Q1 FY25 was 17.9%.
4. How much did the adjusted EBITDA margin increase year-over-year in Q1 FY25?
The adjusted EBITDA margin increased by 20.9% year-over-year.
5. What was the adjusted EBITDA in Q1 FY25?
The adjusted EBITDA in Q1 FY25 was ₹52.0 crore.
6. How did the adjusted EBITDA change from Q4 FY24 to Q1 FY25?
The adjusted EBITDA decreased by 4.4% from Q4 FY24 to Q1 FY25.
7. What was the adjusted EBITDA in Q1 FY24?
The adjusted EBITDA in Q1 FY24 was ₹43.4 crore.
8. How did the adjusted EBITDA change year-over-year in Q1 FY25?
The adjusted EBITDA increased by 19.9% year-over-year.
9. What was Coforge’s EBITDA in Q1 FY25?
Coforge’s EBITDA in Q1 FY25 was ₹49.6 crore.
10. How did the EBITDA change from Q4 FY24 to Q1 FY25?
The EBITDA decreased by 4.0% from Q4 FY24 to Q1 FY25.
11. What was the EBITDA in Q1 FY24?
The EBITDA in Q1 FY24 was ₹40.6 crore.
12. How did the EBITDA change year-over-year in Q1 FY25?
The EBITDA increased by 22.2% year-over-year.
13. What was Coforge’s revenue in USD for Q1 FY25?
Coforge’s revenue in USD for Q1 FY25 was $291 million.
14. How much did Coforge’s revenue grow quarter-over-quarter in USD in Q1 FY25?
Coforge’s revenue grew by 1.6% quarter-over-quarter in USD.
15. How much did Coforge’s revenue grow year-over-year in USD in Q1 FY25?
Coforge’s revenue grew by 7.2% year-over-year in USD.
16. What was Coforge’s revenue in INR for Q1 FY25?
Coforge’s revenue in INR for Q1 FY25 was ₹24,008 million.
17. How much did Coforge’s revenue grow quarter-over-quarter in INR in Q1 FY25?
Coforge’s revenue grew by 1.8% quarter-over-quarter in INR.
18. How much did Coforge’s revenue grow year-over-year in INR in Q1 FY25?
Coforge’s revenue grew by 8.1% year-over-year in INR.
19. What was Coforge’s normalized PAT in Q1 FY25?
Coforge’s normalized PAT in Q1 FY25 was ₹2,285 million.
20. How much did Coforge’s normalized PAT grow year-over-year in Q1 FY25?
Coforge’s normalized PAT grew by 28.2% year-over-year.
21. What was Coforge’s cash flow from operations in Q1 FY25?
Coforge’s cash flow from operations in Q1 FY25 was $23.2 million.
22. What interim dividend did Coforge’s Board recommend in Q1 FY25?
Coforge’s Board recommended an interim dividend of ₹19 per share in Q1 FY25.
23. What was Coforge’s fresh order intake in Q1 FY25?
Coforge’s fresh order intake in Q1 FY25 was $314 million.
24. How many new clients did Coforge add in Q1 FY25?
Coforge added 10 new clients in Q1 FY25.
25. What was Coforge’s headcount as of June 30, 2024?
Coforge’s headcount as of June 30, 2024, was 26,612 employees.
26. How much did Coforge’s headcount increase quarter-over-quarter in Q1 FY25?
Coforge’s headcount increased by 7.6% quarter-over-quarter.
27. What was Coforge’s IT attrition rate in Q1 FY25?
Coforge’s IT attrition rate in Q1 FY25 was 11.4%.
28. What stake did Coforge acquire in Cigniti Limited in Q1 FY25?
Coforge acquired a 28% stake in Cigniti Limited in Q1 FY25.
29. What was Coforge’s executable order book over the next 12 months in Q1 FY25?
Coforge’s executable order book over the next 12 months in Q1 FY25 was $1,070 million.
30. How much did the executable order book grow year-over-year in Q1 FY25?
The executable order book grew by 19.3% year-over-year.
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