Coforge and UltraTech Cement Announce date of board meeting on june 1, 2023. Coforge is Information Technology company and UltraTech Cement is in Cement Business.
Coforge Net Revenue increases in FY23- 23 Q4 from 2056 to 2170 Crores but Net Profit dips by 50% to 115 Crores from 228 Crores.
As compared to last year same quarter net revenue grown up by 25 percent from 1743 to 2170 Crores and Net Profit also dips by 45 percent from 225 to 115 Crores.
Coforge reported its Q4 results on May 12, 2023. The company reported a net profit of Rs 114.8 crore for the quarter ended March 2023, down 49.7% from the previous quarter. Revenue for the quarter was Rs 2,423 crore, up 14.6% from the previous quarter. The company’s board of directors has recommended a dividend of Rs 19 per share.
Here are some of the key highlights from Coforge’s Q4 results:
- Net profit of Rs 114.8 crore, down 49.7% from the previous quarter
- Revenue of Rs 2,423 crore, up 14.6% from the previous quarter
- Operating margin of 22.7%, down from 25.1% in the previous quarter
- Net debt of Rs 1,082 crore, down from Rs 1,148 crore in the previous quarter
- Order book of $1.2 billion, up 20% from the previous quarter
Coforge’s CEO, Punit Renjen, said that the company is “well-positioned for growth” in the coming quarters. He said that Coforge is seeing strong demand for its services from customers in the banking and financial services, healthcare, and manufacturing sectors.
Renjen also said that Coforge is focused on “investing in new capabilities” to help its customers “accelerate their digital transformation journey.” He said that Coforge is investing in areas such as cloud computing, artificial intelligence, and machine learning.
Overall, Coforge’s Q4 results were mixed. The company’s net profit declined, but its revenue and order book grew. Coforge’s CEO is optimistic about the company’s future and is investing in new capabilities to help its customers transform their businesses.
UltraTech Cement Ltd. on Friday reported a 36% decline in consolidated net profit at Rs 1,665.95 crore for the January-March quarter for the fiscal year 2023 (Q4FY23). The company had reported a net profit of Rs 2,620.43 crore in the same period last year.
Consolidated revenue from operations stood at Rs 18,436 crore, up 19% from Rs 15,557 crore in the year-ago quarter.
The company said that the decline in net profit was mainly due to higher fuel and power costs, which were partially offset by higher sales volumes.
The company also said that it is taking steps to reduce its dependence on imported coal and is exploring alternative fuels such as biomass and waste heat recovery.
UltraTech Cement is the largest cement producer in India and the second-largest in the world. The company has a cement production capacity of 120 million tonnes per annum and operates in 10 countries.
Coforge, UltraTech Cement Q1 Results Date 2023
Coforge meeting of Board of Directors of the Company is scheduled to be held on Thursday, July 20, 2023, inter alia, to consider and approve the un-audited consolidated and standalone financial results of the Company for the quarter ended June 30, 2023.
The Board of Directors will also be considering the proposal of the payment of Interim Dividend, if any, for the Financial Year 2023-24 and will determine the Record date for the purpose of the Interim Dividend, if approved.
UltraTech Cement announce its financial results date. UltraTech Cement Q1 results will be held on 23 July, 2023. Trading will be prohibited from 1 July, 2023 till results to be out.