Coforge excels, but must diversify

Coforge Ltd, which has emerged as a growth leader among mid-cap IT firms, delivered another quarter of robust numbers post market hours on Friday.

- Ananya Roy

Revenue rose 6% sequentially in constant-currency terms to ₹3,986 crore, even as rupee depreciation pushed growth to 8.1%. Coforge’s BFSI (banking, financial services and insurance) exposure at over 40% is among the highest in the industry. With lower interest rates and a growing need for real-time payments, growing IT spends have continued to benefit Coforge, which saw BFS revenues increase 4% sequentially. But following the divestment of its insurance product, AdvantageGo, to Sapiens UK, revenue growth from insurance was muted at 1.8% sequentially.