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 the December quarter (Q3FY24), from Rs 263 crore in the previous quarter of the same fiscal (Q2FY24).The IT company's revenue surged 3.6 per cent to Rs 2,498.2 crore, from Rs 2,411.6 crore in the previous quarter.The company’s EBIT, also known as operational profit, jumped 9.8 per cent to Rs 363.1 crore as against Rs 330.8 crore in the previous quarter.EBIT margin soared 81 bps to 14.5 per cent, from 13.7 per cent in the previous quarter of the same fiscal.The Board of Directors declared an Interim Dividend of Rs 32 per share on the face value of Rs 10 each for FY23-24. Additionally, the Board recommended a resolution to the shareholders to split the face value of shares from Rs 10 per share to Rs 5 per share.Sandeep Kalra, the Chief Executive Officer and Executive Director of the company said, “We are proud to announce the 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.The company announced the onboarding of Dhanashree Bhat as the company's Chief Operating Officer, while Barath Narayanan was appointed as the Global BFSI and Europe Geo Head.The market capitalisation of the IT services company is Rs 61,026 crore, according to the Bombay Stock Exchange (BSE).Shares for the company settled 0.91 per cent higher at Rs 7,933.20 per share when the market closed today, January 20.

Advertisement

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

Shares for the company settled 0.91% higher at Rs 7933.20 per share when the market closed today, January 20.

Advertisement