Coforge net profit down 3% to Rs 123.5 crore

IT solutions firm Coforge (formerly NIIT Technologies NSE -2.35 %) reported a net profit of Rs 123.5 crore for the quarter ended December 31, 2020, down 3% over the corresponding quarter last year.

Revenues increased by 10.9% to Rs 1,190.6 crore. EBITDA (before ESOPs) for the quarter was at 18%, down 81 basis points as a result of selective wage hikes for employees with niche skills.