IT firm Coforge Ltd, formerly known as NIIT Technologies, on Thursday reported a 17 percent rise in consolidated net profit at Rs 133 crore in the three months ended March 2021. The company had posted a net profit of Rs 113.6 crore in the year-ago period, Coforge said in a regulatory filing.

Its consolidated revenue from operations rose 13.7 percent to Rs 1,261.5 crore in the fourth quarter of the last fiscal. The same stood at Rs 1,109.3 crore in the year-ago period. ”The company is planning for organic growth of at least 17 percent in constant currency terms during FY’22 and an expansion of EBITDA margin (excluding ESOP and acquisition-related costs) from 18 percent in FY’21 to 19 percent in FY’22,” Coforge said in a statement.

In constant currency terms, revenue grew 5.1 percent over the preceding quarter. ”We are exiting FY’21 with a sequential dollar-term growth of 7.1 percent in the fourth quarter, which forms a very strong ramp for growth and margin expansion in FY’22.

”Our capabilities, platforms, and partnerships in the product engineering, automation, integration, and cloud services realm are designed to drive convergence and aid transformation,” Coforge Chief Executive Officer Sudhir Singh said. These are now at scale and are clear differentiators for the firm, he added.

”With a significantly expanded roster of Fortune 500 clients to work with, we remain committed to delivering impact at the intersection of process and tech knowledge,” he said. The company said its EBITDA margin (before ESOPs and acquisition-related costs) 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.

Coforge recently announced the acquisition of a controlling interest in SLK Global Solutions, and expenses related to that transaction are partly reflected in the March quarter. For the full year FY2021, Coforge reported an increase of 11.5 percent in consolidated revenue to Rs 4,662.8 crore.

In constant currency terms, FY’21 revenues were up 6 percent year-on-year. The digital and the product engineering portfolio of the firm constituted 52.1 percent of total revenue for the year while cumulative order intake during the year was USD 781 million. Coforge’s total employee strength rose to 12,391 at the end of the March quarter, an increase of 967 people quarter-on-quarter and 1,235 people year-on-year. Attrition was at 10.5 percent.

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The company secured fresh business of USD 201 million during the quarter under review, resulting in the order book executable over the next twelve months expanding to USD 520 million. The company’s board has declared an interim dividend of Rs 13 per equity share. It has fixed May 19 as the record date for the purpose of ascertaining the eligibility of shareholders for the payment of the interim dividend

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