The shares of this Information Technology company which is one of the leading digital engineering and enterprise modernization partner for global market leaders across globe jumps 4 percent after its releases robust quarter ended september (Q2FY24) results
At 2:50 p.m the shares of Persistent Systems were trading at Rs. 5832.65 per share up 2.10 percent from its previous day close price and the market capitalization of the company is Rs. 44,941 crores.
As per the company’s filing, Persistent Systems have released their quarter ended september (Q2FY24) results/ updates and it is as follows
The company’s revenue grew 3.9 percent QoQ from Rs. 2,321 Crores in Q1FY24 to Rs. 2,411 Crores in Q2FY24 and it grew 17.7 percent YoY from Rs. 2,048 Crores in Q2FY23 to Rs. 2,411 Crores in Q2FY24.
Its Profit after tax grew 15.1 percent QoQ from Rs. 228 Crores in Q1FY24 to Rs. 263 Crores in Q2FY24 and it grew 19.7 percent YoY from Rs. 220 Cr in Q2FY23 to Rs. 263 Crores in Q2FY24, with EBITDA margins at 16.8 percent and PAT margins at 10.9 percent.
CEO Sandeep Kalra said “Our proactive approach and ability to adapt has enabled us to thrive in this uncertain macroeconomic environment leading to our highest-ever total contract value (TCV) with more than $475 million in bookings in Q2FY24,”
The company’s revenue grew 46.23 percent from Rs. 5,710.75 crores in FY22 to Rs. 8,350.59 crores in FY23, accompanied by increasing profits of Rs. 690.39 crores to Rs. 921.09 crores.
It has reported a return on equity (ROE) of 26.36 percent and a return on capital employed of 31.44 percent, this indicates that the company is making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 31.06 percent stake, the Domestic Institutional Investors hold 28.04 percent and the Foreign Institutional Investors (FII) hold 20.50 percent.
Persistent Systems provides software engineering and strategy services to help companies implement and modernise their businesses.
Written by: Bharath K.S
