Reported about 7 hours ago
Indian IT firm Coforge reported a fourth-quarter profit of 2.61 billion rupees, missing analysts' expectations of 2.81 billion, primarily due to a 49% increase in total expenses driven by acquisition costs. Despite a revenue increase to 34.1 billion rupees, it still fell short of the anticipated 35.20 billion. Coforge is facing challenges in a tough economic landscape where competitors like Mphasis outperformed expectations, while larger firms brace for cautious spending amid global uncertainty.
Source: YAHOO