News

Published: Jan 23, 2023
Updated: Jan 23, 2023

Coforge Ltd Reports Strong Q3 Earnings, Declares Interim Dividend

Coforge Ltd, an Indian IT services company, recently announced its third quarter earnings for the three-month period ending December 2022. The company's board of directors have recommended an interim dividend of ₹19 per share and fixed the record date for the interim dividend payout as Friday, February 3, 2023.

Q3 Earnings Show Positive Growth

The company reported a net profit of ₹228 crore as compared to ₹184 crore in the year-ago quarter, showing positive growth. The company has also raised its FY23 constant currency (CC) revenue growth guidance to 22% from at least 20%.

Interim Dividend Declared

In addition to the strong Q3 earnings, the company's board of directors also declared an interim dividend of ₹19 per share. The record date for the interim dividend payout has been fixed as Friday, February 3, 2023 and the payment of the dividend will be done within 30 days from the date of declaration.

IT Stock Surges on BSE by more than 5%

The IT stock surged more than 5% on the BSE after the company reported its Q3 results. The company has declared an equity dividend amounting to ₹52 per share in the past 12 months and at the current share price, this results in a dividend yield of 1.32%.

Very Strong results

Coforge Ltd's Q3 earnings report shows positive growth and the company's board of directors have recommended an interim dividend of ₹19 per share. The company's stock has also seen a surge on the BSE after the Q3 results were announced. The payment of the interim dividend will be done within 30 days from the date of declaration. The company's strong financial performance and dividend payout makes it an attractive investment opportunity for shareholders.