Shares of Coforge surged over 12 percent to hit its 52-week high on Thursday after the IT services firm reported better than expected numbers for the March quarter.

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The company posted a 17 percent rise in net profit of Rs 133 crore as against Rs 113.60 crore in the year-ago period. CNBC-TV18 poll expected a new profit of Rs 127.5 crore in this period.

The stock rose as much as 12.3 percent to its 52-week high of Rs 3,249.85 per share on the BSE.

Consolidated sales revenues for the quarter stood at Rs 1,261.50 crore, up 13.7 percent YoY. In terms of verticals, the share of transport vertical in revenues was sharply lower while the share of banking, financial and other verticals was higher on a YoY basis.

The IT firm sees FY22 constant currency revenue growth of at least 17 percent, it said.

Dollar revenue for Q4 came in at $172 million versus the CNBC-TV18 poll of $167.5 million and is up 7 percent on a QoQ basis.

Meanwhile, the net profit margins improved marginally from 10.24 percent in March 2020 quarter to 10.54 percent in the March 2021 quarter.

Constant currency growth came in at 5.1 percent vs CNBC-TV18 poll of 3.5 percent growth.

(Edited by : Ajay Vaishnav)