IT company coforge Consolidated Net Profit for the fourth quarter ended March 31, 2022 has increased by 56.16 per cent to Rs 207.7 crore. The company had made a profit of Rs 133 crore in the same period a year ago.
Revenue from operations increased to Rs 1,742.9 crore during the quarter from Rs 1,281.5 crore in the corresponding quarter of 2020-21.
Profit grew by 45.23 per cent to Rs 661.7 crore for the year ended March 31, 2022, from Rs 455.6 crore in 2020-21.
Annual consolidated revenue from operations grew by nearly 38 per cent to Rs 6,432 crore from Rs 4,662.8 crore at the end of 2020-21.
In a statement, Coforge said the firm expects growth of around 20 per cent in FY2023.
“FY22 was a landmark year for the firm and the performance data speaks for itself. Revenue grew by 38 percent, EBITDA by 42 percent and PAT by 45 percent. The firm is now on an accelerated growth path of $2 billion. Revenue milestones,” said Chief Executive Officer Sudhir Singh.
The company’s total order intake during the year stood at $1.15 billion, approximately Rs 8,677 crore.
In the quarter, Coforge said it had a total order book of $720 million, which is executable over the next 12 months. Order intake was $301 million. Coforge said it had one of the lowest rates in the industry at 17.7 percent.