Coforge says AI is expanding its margins. Its rivals call it ‘AI deflation’
Coforge reported first quarter revenue of $592.2m on Monday. That is a rise of 33% in dollar terms over the year, and 21.1% on the previous quarter. In rupees the annual increase reads 49%. Profit after tax reached $55.6m.
Those numbers land in an industry bracing to shrink.
HCL Technologies has warned of “AI deflation”. Its chief executive C. Vijayakumar said revenue would fall by three to five percent in the coming year, The Register reported in April. Analysts expect the six largest Indian IT firms to manage 2.8% constant currency growth this financial year.
Coforge grew roughly twelve times faster than that forecast, and it credits the technology its rivals blame.
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