- Home
- Results news
- Coforge
- Q2 FY27 results
Coforge Q2 FY27 results: net profit up 42.2% to ₹604.90 crore, revenue up 54.8%
Coforge Limited reported consolidated Q2 FY27 revenue of ₹6,171 crore, up 54.8% from Q2 FY26, with EBITDA of ₹1,223 crore and a net profit of ₹604.90 crore. Basic EPS was ₹13.27, while the EBITDA margin improved to 19.8% from 18.4%; the company also raised its FY27 consolidated EBIT margin guidance to 16.0% from 15.5%.
Key points
- Q2 FY27 consolidated revenue was ₹6,171 crore, up 54.8% year on year and 11.6% from Q1 FY27.
- EBITDA was ₹1,223 crore, up 67.0% year on year, while the margin rose 1.4 percentage points to 19.8%.
- Net profit was ₹604.90 crore, up 42.2% from Q2 FY26 and 13.8% from Q1 FY27; basic EPS was ₹13.27.
- H1 FY27 revenue was ₹11,698.5 crore and net profit was ₹1,136.6 crore, up 52.4% and 45.4% respectively from H1 FY26.
- The board approved in-principle plans to set up Momentuum Blue in the USA and proposed Price Waterhouse as statutory auditor for five years, subject to shareholder approval.
How did Coforge perform in Q2 FY27?
Coforge reported consolidated Q2 FY27 revenue of ₹6,171 crore, EBITDA of ₹1,223 crore and net profit of ₹604.90 crore. Revenue rose 54.8% from ₹3,986 crore in Q2 FY26 and 11.6% from ₹5,528 crore in Q1 FY27. EBITDA margin was 19.8%, compared with 18.4% a year earlier and 19.1% in the previous quarter.
Basic EPS was ₹13.27, up from ₹11.21 in Q2 FY26 and ₹12.34 in Q1 FY27. Profit before tax was ₹798.90 crore, while the net profit margin was 9.8%, compared with 10.7% in Q2 FY26 and 9.6% in Q1 FY27. On a standalone basis, revenue was ₹3,812 crore and profit after tax was ₹210.3 crore.
The company’s investor presentation reported combined EBIT of ₹9,847 million and an EBIT margin of 16.0% for Q2 FY27. It also said the FY27 consolidated EBIT margin guidance had been raised from 15.5% to 16.0%.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 6,171 | 5,528 | 3,986 | +54.8% | +11.6% |
| Other income | 24.40 | 26.80 | 38.50 | −36.6% | −9.0% |
| Total expenses | 5,341 | 4,797 | 3,466 | +54.1% | +11.3% |
| EBITDA | 1,223 | 1,058 | 732.50 | +67.0% | +15.6% |
| EBITDA margin | 19.8% | 19.1% | 18.4% | +1.4 pp | +0.7 pp |
| Profit before tax | 798.90 | 702.10 | 558.20 | +43.1% | +13.8% |
| Tax | 194 | 170.40 | 132.80 | +46.1% | +13.8% |
| Net profit | 604.90 | 531.70 | 425.40 | +42.2% | +13.8% |
| EPS (₹) | 13.27 | 12.34 | 11.21 | +18.4% | +7.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Coforge's costs and profit?
Total expenses rose ₹1,875 crore from Q2 FY26 to ₹5,341 crore. Employee cost increased ₹1,264 crore, finance costs ₹67.10 crore, depreciation ₹113.10 crore and other expenses ₹432.40 crore; cost of materials was unchanged. Other income fell ₹14.10 crore to ₹24.40 crore.
Coforge recorded an exceptional charge of ₹55.70 crore in Q2 FY27, against no exceptional item in Q2 FY26. Tax expense increased ₹61.20 crore to ₹194 crore. EBITDA rose ₹490.70 crore year on year, while net profit increased ₹179.50 crore.
From Q1 FY27, total expenses rose ₹543.20 crore to ₹5,341 crore. Employee cost increased ₹411.30 crore, finance costs ₹21.40 crore, depreciation ₹43.90 crore and other expenses ₹66.60 crore, while other income fell ₹2.40 crore. The exceptional charge was ₹55 crore in Q1 FY27.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 3,536 | 2,272 | +1,264 | +55.6% |
| Finance costs | 108 | 40.90 | +67.10 | +164.1% |
| Depreciation | 285 | 171.90 | +113.10 | +65.8% |
| Other expenses | 1,411 | 978.90 | +432.40 | +44.2% |
| Total expenses | 5,341 | 3,466 | +1,875 | +54.1% |
| Other income | 24.40 | 38.50 | −14.10 | −36.6% |
| Tax | 194 | 132.80 | +61.20 | +46.1% |
| Exceptional items | −55.70 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Coforge reported revenue of ₹11,698.5 crore, up ₹4,024.2 crore or 52.4% from H1 FY26. Total income was ₹11,749.7 crore, up 52.0%, while profit before tax rose 62.5% to ₹1,501.0 crore.
H1 FY27 net profit was ₹1,136.6 crore, compared with ₹781.8 crore in H1 FY26, an increase of ₹354.8 crore or 45.4%. Basic EPS rose from ₹20.68 to ₹25.63, an increase of 23.9%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 11,698 | 7,674 | +52.4% |
| Profit before tax | 1,501 | 923.60 | +62.5% |
| Net profit | 1,137 | 781.80 | +45.4% |
| EPS (₹) | 25.63 | 20.68 | +23.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹34,779.7 crore, compared with ₹14,881.4 crore at 31 March 2026. Total equity rose to ₹22,536.7 crore from ₹9,680.6 crore, while borrowings increased to ₹5,645.7 crore from ₹399.7 crore.
Cash and cash equivalents were ₹1,821.7 crore at 30 September 2026, compared with ₹1,093.6 crore at 31 March 2026. Trade receivables increased to ₹5,491.5 crore from ₹3,970.0 crore over the same period.
For H1 FY27, operating cash flow was ₹1,081.1 crore, compared with ₹787.3 crore in H1 FY26. Investing cash flow was negative ₹4,792.2 crore against negative ₹552.7 crore, while financing cash flow was ₹4,480.9 crore against negative ₹503.5 crore. Capital expenditure was ₹73.9 crore, compared with ₹653.7 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 34,780 | 14,881 |
| Total equity | 22,537 | 9,681 |
| Borrowings | 5,646 | 399.70 |
| Cash and equivalents | 1,822 | 1,094 |
| Inventories | 0 | 0 |
| Trade receivables | 5,492 | 3,970 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1,081 | 787.30 |
| Cash from investing | −4,792 | −552.70 |
| Cash from financing | 4,481 | −503.50 |
| Capital expenditure | 73.90 | 653.70 |
Source: Company's results filing (XBRL).
How has Coforge done over the last 8 quarters?
Revenue increased in each of the last eight quarters on a year-on-year basis and reached ₹6,170.8 crore in Q2 FY27. It rose from ₹3,318.2 crore in Q3 FY25 and has continued upward in each quarter since then.
Net profit was highest at ₹666.2 crore in Q4 FY26 and lower at ₹296.7 crore in Q3 FY26. It recovered to ₹531.7 crore in Q1 FY27 and rose to ₹604.9 crore in Q2 FY27.
The EBITDA margin bottomed at 13.4% in Q3 FY25 and reached its highest level, 19.8%, in Q2 FY27. It was 19.7% in Q4 FY26 and 19.1% in Q1 FY27.
Which businesses drove the quarter?
America reported revenue of ₹3,893.5 crore and EBIT of ₹687.8 crore in Q2 FY27, with an EBIT margin of 17.7%. The filing did not provide the year-ago revenue or EBIT figures for a comparison.
Europe, Middle East and Africa reported revenue of ₹1,520.2 crore and EBIT of ₹289.9 crore, with an EBIT margin of 19.1%. The filing did not provide the year-ago revenue or EBIT figures for a comparison.
The ROW segment reported revenue of ₹757.1 crore and EBIT of ₹7.0 crore, with an EBIT margin of 0.9%. The filing did not provide the year-ago revenue or EBIT figures for a comparison.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| America | 3,894 | 687.80 | 17.7% | |
| Europe,Middle East and Africa | 1,520 | 289.90 | 19.1% | |
| ROW | 757.10 | 7 | 0.9% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the appointment of Price Waterhouse Chartered Accountants LLP as statutory auditor for a term of five years, from the conclusion of the 35th AGM in 2027 to the conclusion of the 40th AGM in 2032. The appointment is subject to shareholder approval and other statutory requirements; S R Batliboi & Associates LLP will continue until the 35th AGM.
The board gave in-principle approval to set up a new entity, Momentuum Blue, in the USA to build a talent pool of Forward Deployed Engineers. It also took note of the completed voluntary liquidation and dissolution of Digital Mobile Innovations Italy S.R.L., a step-down wholly owned subsidiary, to streamline the entity structure and enhance operational efficiency. No dividend or fund-raising filing was provided.
What did Coforge's management say?
Management said in its investor presentation that FY27 consolidated EBIT margin guidance had been upgraded from 15.5% to 16.0%. The presentation also reported Q2 FY27 fresh intake of $1.04 Bn and a 12-month executable book of $2.38 Bn, up 45.4% year on year.
Management’s presentation said the top five clients contributed 18.1% of Q2 revenue and grew 20.4% year on year, while the top ten contributed 26.4% and grew 20.0%. It also reported a repeat-business ratio of 95.5%.
The earnings-call document made available by the company contained links to the audio recording and prepared remarks, but the excerpt did not provide further management commentary, analyst questions, guidance details, priorities or risks. The presentation cautioned that results could differ because of client performance, strategy implementation, competition, pricing, costs, growth, employee retention and legal or regulatory matters.
How did Coforge shares react?
After the after-market filing on 23 October 2026, Coforge rose 0.9% within 5 minutes, 1.4% within 15 minutes and 2.0% within 30 minutes. It closed the reaction day 4.9% above the previous close of ₹1,900.5; by the next day’s close it was 5.1% higher, and by five sessions it was 10.4% higher.
Coforge’s earlier reaction-day moves were 10.0% on 28 July 2026, 9.6% on 5 May 2026, negative 2.8% on 22 January 2026, 4.0% on 24 October 2025, negative 9.0% on 23 July 2025, negative 1.3% on 5 May 2025, 11.6% on 23 January 2025 and 11.0% on 22 October 2024.
| After the filing | Stock | Computers - Software & Consulting median |
|---|---|---|
| 5 minutes | +0.9% | |
| 15 minutes | +1.4% | |
| 30 minutes | +2.0% | |
| Reaction day | +4.9% | +0.5% |
| Next day | +5.1% | +0.8% |
| 5 days | +10.4% | +0.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 28 July 2026 | +10.0% |
| 5 May 2026 | +9.6% |
| 22 January 2026 | −2.8% |
| 24 October 2025 | +4.0% |
| 23 July 2025 | −9.0% |
| 5 May 2025 | −1.3% |
| 23 January 2025 | +11.6% |
| 22 October 2024 | +11.0% |
Source: MarketPing price-reaction measurement.
How did other Computers - Software & Consulting companies do?
Among 33 Computers - Software & Consulting companies compared for the quarter, the median revenue growth was 12.9%. Coforge’s 29 peers grew slower than the company, while 4 peers grew faster than the company.
Of 32 peers for which profit was compared, 20 reported higher profit. The peer comparison was recorded as of 4 November 2026.
| Coforge revenue growth (YoY) | +54.8% |
|---|---|
| Median of 33 other Computers - Software & Consulting companies | +12.9% |
| Companies with slower revenue growth than Coforge | 29 of 33 |
| Companies with faster revenue growth than Coforge | 4 of 33 |
| Companies whose net profit rose | 20 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Coforge's revenue in Q2 FY27?
Revenue from operations was ₹6,171 crore, up 54.8% from ₹3,986 crore in Q2 FY26 (consolidated).
Did Coforge make a profit in Q2 FY27?
Yes. Net profit was ₹604.90 crore, against a net profit of ₹425.40 crore in Q2 FY26.
What was Coforge's EPS in Q2 FY27?
Basic earnings per share were ₹13.27, against ₹11.21 in Q2 FY26.
How did Coforge shares react to the Q2 FY27 results?
On the reaction day the stock moved +4.9% from the previous close; the median Computers - Software & Consulting stock moved +0.5%.
When did Coforge announce its Q2 FY27 results?
On 23 October 2026, in a filing to the BSE.
Sources
- Results-Financial Results For 30/09/2026 (BSE, 23 October 2026) · PDF
- The earnings call (23 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.