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Coforge Q1 Review - Faster, Higher, Stronger: Prabhudas Lilladher

Coforge Q1 Review - Faster, Higher, Stronger: Prabhudas Lilladher

An employee uses a headset to speak to a customer at a call cente in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)
An employee uses a headset to speak to a customer at a call cente in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Coforge Ltd. reported strong growth of 16% QoQ U.S. dollar in Q1 FY22, much above our (~400 basis points) and consensus estimates (~600 bps) on top of high base in Q4 FY21.

Beat was led by strong growth in organic business at 7.6% QoQ U.S. dollar (our estimate: 4%).

Inorganic business contributed $14.6 million (our estimate: $12 million).

Coforge's management raised organic growth guidance to ‘atleast’ 19% YoY constant currency for FY22 from earlier 17%.

This guidance is conservative implying 1-2% growth for next three quarters.

Click on the attachment to read the full report:

Prabhudas Lilladher Coforge Q1FY22 Result Update.pdf

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