Coforge Ltd’s stock plummeted over 9% in Friday’s morning trades post Q4 earnings release. Despite a 95% surge in net profit to ₹224 crore and an 8.7% rise in consolidated sales to ₹2,359 crore, the performance fell short of analyst estimates. Jefferies India Pvt Ltd downgraded Coforge, citing a miss in revenue, EBITDA margins, and normalized profit. Additionally, uncertainties loom over revenue outlook due to a slowdown in client spending. The lack of FY25 growth guidance and a risky acquisition further dampened prospects, prompting an underperform rating and a target price cut by Jefferies.
Read More at: livemint
