Coforge Q1 profit slips due to one-time acquisition charge; revenue grows by 24.2%
Mid-cap IT firm Coforge on Monday reported a 15.3% sequential decline in net profit for the April-June quarter FY27 to Rs 519 crore from Rs 612 crore in the previous quarter while revenue increased by 24.2% sequentially to Rs 5,528 crore from Rs 4,450 crore.
However, on a year-on-year (y-o-y) basis, the Noida-headquartered firm’s net profit jumped by 63.4% from Rs 228.5 crore.
The company attributed the fall in profitability to one-time costs including a Rs 61.3 crore charge for the Encora acquisition closed last quarter, Rs 5 crore for legal expenses and a Rs 10.8 crore provision against a customer receivable after a bankruptcy filing.
