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Dolat Capital Report
Coforge Ltd. reported revenue growth of 8.1% QoQ in constant currency terms (our estimate 8.3%), led by tractions across verticals.
Ebit margins stood at 13.8% (up 220 basis points QoQ) ahead of our estimate of 13.5% led by positive selling general and administrative expenses leverage (up just 4% QoQ).
Profit after tax stood at Rs 2.1 billion (ahead of our estimate Rs 2 billion).
Added strong total contract of about 201 million U.S. dollar in Q2 up 14% on trailing twelve months basis at 785 million U.S. dollar.
Coforge signed two large deals (a new logo in Insurance with 32 million dollar TCV and a banking and financial services deal with 50% new component).
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