Persistent Systems profit jumps 9% to Rs 286 crore in December quarter

Persistent Systems Q3 results: Pune-based IT services company Persistent Systems has posted a 9 per cent jump in profit at Rs 286 crore in December quarter (Q3FY24), from Rs 263 crore in previous quarter of same fiscal (Q2FY24).

IT company's revenue surged 3.6 per cent to Rs 2,498.2 crore, from Rs 2,411.6 crore in previous quarter.

company’s EBIT, also kwn as operational profit, jumped 9.8 per cent to Rs 363.1 crore as against Rs 330.8 crore in previous quarter.

EBIT margin soared 81 bps to 14.5 per cent, from 13.7 per cent in previous quarter of same fiscal.

Board of Directors declared an Interim Dividend of Rs 32 per share on face value of Rs 10 each for FY23-24. 

ditionally, Board recommended a resolution to shareholders to split face value of shares from Rs 10 per share to Rs 5 per share.

Sandeep Kalra, Chief Executive Officer and Executive Director of company said, “We are proud to anunce 15th sequential quarter of growth and a significant milestone of our first-ever quarter of over $300 million in revenue and $500 million in Total Contract Value (TCV) bookings," he said.

company anunced onboarding of Dhanashree Bhat as company's Chief Operating Officer, while Barath Narayanan was appointed as Global BFSI and Europe Geo He.

market capitalisation of IT services company is Rs 61,026 crore, according to Bombay Stock Exchange (BSE).

Shares for company settled 0.91 per cent higher at Rs 7,933.20 per share when market closed today, January 20.