Coforge, a prominent Indian IT services provider, reported a remarkable 134.4% increase in consolidated net profit, reaching ₹612 crore ($64.23 million) for the quarter ending March 31. This growth was fueled by a 30% rise in revenue to ₹44.50 billion, largely attributed to strong performance in the Americas region. The company recorded an order intake of $648 million, marking a 9.3% sequential increase, and signed five new deals during the period. CEO Sudhir Singh expressed confidence in the company's momentum, projecting robust revenue growth and an EBITDA exceeding 20.5% for FY27. Coforge's shares experienced a 1.4% rise on the announcement day, although they have seen a 29.8% decline since the start of 2026. In a strategic move to enhance its AI capabilities, Coforge completed the acquisition of AI firm Encora for $2.35 billion on April 23. While CLSA anticipates the deal will bolster AI-led engineering, Morgan Stanley cautions that the acquisition price may be high and could dilute earnings. Analysts predict that revenue growth among India's leading IT firms may remain subdued this fiscal year due to client spending cuts amid ongoing macroeconomic and geopolitical challenges.