Retaining FY24 guidance implies a strong 4Q exit

Company
23 Jan 2024
5 Min read 
  • Coforge reported 1.8% QoQ revenue growth in 3QFY24, driven by BFS vertical.
  •  The company reported a robust order intake of USD 354m in 3QFY24.
  •  Management expects FY24 revenue growth to be at the lower range of guidance.
  •  Margins are expected to improve in 4QFY24, leading to an exit at ~20% EBITDA margin.
  •  The company retains its FY24 guidance and expects to be ahead of the lower band.
  •  Valuations are considered fair, and there is no potential upside from current levels.
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