Mid-tier IT firm Coforge reported a 138.4% year-on-year increase in net profit for Q1 FY26, reaching 317.4 crore rupee (US$36.7 million).

However, this fell short of Bloomberg consensus estimates of 335 crore rupee (US$38.7 million).

Revenue rose over 54%, totaling 3,688.6 crore rupee (US$424.1 million).

The company’s stock dropped over 9% on July 24, following the results.

Coforge also signed a US$1.56 billion, 13-year deal with Sabre, and five large deals worth US$507 million.

Operating margins improved to 17.5% from 16.9% last quarter but were down from 18% a year ago.

The company added 1,164 employees in the quarter, bringing total headcount to 34,187. It plans to continue hiring.