IT company Coforge reported a 56.16% increase in consolidated net profit at Rs 207.7 crore for the fourth quarter ended March 31, 2022. The company recorded a profit of Rs 133 crore in the same period last year.
Operating revenue for the quarter rose to Rs 1,742.9 crore from 1,281.5 crore in the corresponding quarter of 2020-21.
In the year ended March 31, 2022, profits increased 45.23% to Rs 661.7 from Rs 455.6 in 2020-21.
Annual consolidated revenue from operating activities increased by about 38% to Rs 6,432 from Rs 4,662.8 at the end of 2020-21.
Coforge in a statement said the company expects growth of around 20% in fiscal year 2023.
“Fiscal year 22 was a landmark year for the company and the performance data speaks for itself. Revenue increased 38%, EBITDA increased 42% and NPAT increased 45%. The company is currently focused on building a roadmap for rapid growth to the $2 billion revenue milestone,” said CEO Sudhir Singh.
The company’s total order volume for the year was $1.15 billion, about Rs 8,677 crore.
For the quarter, Coforge said it had a total of $720 million in orders, enforceable over the next 12 months. The order amount is 301 million dollars. Coforge says it has the lowest attrition rate of 17.7% in the industry.