As compared with Q2 FY23, the company's net profit declined 10% while revenue grew by 16.17% respectively.

Profit before tax was at Rs 240.7 crore in quarter ended 30 September 2023 (up 7.36% QoQ and down 10.19% YoY).

EBITDA increased by 4.8% QoQ and 0.9% YoY to Rs 347.4 crore in the second quarter of FY24. EBITDA margin stood at 15.3% in Q2 FY24 as against 14.9% in Q1 FY24 and 17.6% in Q2 FY23.

In dollar terms, the company's revenue was $278.1 million, up 2.3% QoQ and up 12.6% YoY. In constant currency (CC) terms, revenue was higher by 2.3% QoQ and 14.1% YoY.

In Q2 FY24, the company's order intake was $313 million. Total order book executable over the next 12 months at $935 million, up 16.6% YoY. 8 new clients were added during the quarter.

Headcount at the end of the quarter was at 24,638, addition of 414 QoQ & 1,647 YoY and the LTM attrition improved to 13% in Q2 FY24 as against 16.4% posted in Q2 FY23.

The firm reiterated its fiscal year 2024 annual revenue growth guidance of 13% to 16% in constant currency terms and reaffirmed gross margin improvement of 50 bps compared to FY23 while its adjusted EBITDA margin is expected to be at similar levels as FY23.

Sudhir Singh, chief executive officer (CEO), Coforge, said, “At the end of the first half, the firm has grown 16.2% in CC terms despite a very challenging market context.”

Meanwhile, the board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be 2 November 2023.

Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. The firm has a presence in 21 countries with 25 delivery centers across nine countries.

Shares of Coforge rose 0.51% to currently trade at Rs 5,119.60 on the BSE.