Coforge shares jump 14% to hit 52-week high on robust Q4 numbers; Board declares dividend

Consolidated revenue grew 7.1 percent sequentially in dollar terms to USD 172.1 million during the January-March quarter.

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Coforge share price surged over 14 percent intraday on May 6 after the company declared its Q4 results.

The IT firm reported robust Q4 numbers. Consolidated revenue grew 7.1 percent sequentially in dollar terms to USD 172.1 million during the January-March quarter. Revenue in constant currency (CC) terms grew 5.1 percent over the preceding quarter. In rupee terms, revenue was up by 6 percent sequentially and up by 13.7 percent year-on-year (YoY) at Rs 1,261 crore during Q4FY21.

Coforge’s profit after tax (PAT) for the quarter increased 17 percent YoY to Rs 133 crore.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin for the quarter under review was stable at 18 percent as growth-driven operating leverage was able to offset the impact of a one-time bonus payout during the quarter to a majority of employees who provided extraordinary support to the firm’s operations and business during the pandemic, Coforge said in an exchange filing.

The stock was trading at Rs 3,306.20, up Rs 413.75, or 14.30 percent at 12:29 hours. It has touched a 52-week high of Rs 3,318.05. It has touched an intraday high of Rs 3,318.05 and an intraday low of Rs 2,823.35.

The scrip also witnessed a spurt in volume by more than 9.05 times and was trading with volumes of 108,978 shares, compared to its five day average of 11,031 shares, an increase of 887.96 percent.

The Board recommended an interim dividend of Rs 13 per share. The record date for the payout is May 19, 2021, the company said.