Coforge Shares Fall 3% Despite Strong Q2 Earnings and Raised Targets
Coforge shares dropped 3% even after strong Q2 results and target price increases by Jefferies, Nomura, and others. The company reported a 56.5% rise in net profit to Rs 588.1 crore and a 54% revenue increase to Rs 6,170.8 crore. EBITDA grew 67% to Rs 1,269.7 crore with margins up 168 basis points to 20.6%. FY27 EBIT margin guidance was raised to 16%, and the 12-month order book expanded 45% to $2.38 billion.
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