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Coforge gets Rs 83 cr income tax demand For FY20
(15:29, 28 Sep 2023)

In an exchange filing, Coforge said, ?The company has received income tax assessment order/ DEMAND order for financial year 2019-20 (assessment year 2020-21) with tax demand along with interest.?

The total tax demand is of Rs 82,93,04,505 (including interest liability of Rs 25,73,70,345).

?Considering the jurisprudence around the adjustments made and the facts of the case, the Company in consultation with its tax advisors is of the view that our position will be upheld on ultimate resolution and will not have a material adverse effect on the Group's Financial Statement,? the company stated in the press release.

Coforge, a global digital services provider, strategically focuses on specific industries to deliver impactful solutions. With proprietary platforms powering critical business processes, Coforge operates in 21 countries with 26 delivery centers across nine countries.

In Q1 FY24, the company reported a 50.56% surge in consolidated net profit to Rs 175.7 crore, with a 21.4% increase in revenue from operations to Rs 2,221 crore.

Shares of Coforge fell 1.07% to Rs 5,152.85 on the BSE.

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