Shares of Corforge surged nearly 10% after the opening bell on Wednesday, May 6 as the IT firm reported solid earnings for the fourth quarter of FY26.
The company's net profit for the January to March quarter has more than doubled sequentially, according to an exchange filing on Tuesday.
Coforge shares advanced up to 9.99% to Rs 1,255 apiece. The scrip was trading 9.6% higher by 9:22 a.m. The benchmark NSE Nifty 50 was up 0.6%.
Coforge reported a consolidated bottom-line of Rs 612 crore, compared to Rs 250 crore in the previous quarter. Analysts on Bloomberg had estomated profit of Rs 445 crore. Revenue surged 5.2% to Rs 4,450 crore compared to Rs 4,232 crore in the previous quarter.
The earnings before interest, taxes, depreciation rose nearly 26% to Rs 696 crore, against Rs 554 crore in the third quarter of FY26. Margin expanded to 15.6% from 13.1%.
The company has also announced a share swap on its amalgamation with Cigniti, wherein shareholders of Cigniti are entitled to receive equity shares of Coforge in the share exchange ratio of 1:1.
"As informed in the recent intimation to exchanges, Cigniti stands amalgamated with Coforge and the equity shareholders of Cigniti are entitled to receive equity shares of Coforge in the share exchange ratio (1:1), subject to determination of eligibility as on the record date fixed by the Board," the filing read.
Additionaly, Coforge has deferred the declaration of a final dividend to the next meeting. the filing said.
Coforge Q4 Result Highlights (Cons, QoQ)
- Net Profit at Rs 612 crore versus Rs 250 crore.
- Revenue rises 5.2% at Rs 4,450 crore versus Rs 4,232 crore.
- EBIT rises 25.7% at Rs 696 crore versus Rs 554 crore.
- Margin at 15.6% versus 13.1%.
- Board defers dividend proposal to next meeting
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
