Persistent Systems Q3 Results: IT sector company Persistent Systems released the results of the third quarter of the current financial year on Wednesday, January 22. The company said that its net profit for the quarter ended December 31 increased by 30.4 percent on an annual basis to Rs 373 crore. December quarter is always considered a weak quarter for the IT sector. Despite this, the company’s AI-based, platform service strategy helped it increase its profits. On a quarterly basis, the company’s net profit registered an increase of 14.8 percent. Along with the results, the company has also announced an interim dividend of Rs 20 on each share.
Consolidated revenue of Persistent Systems increased by 22.6 per cent year-on-year and 5.7 per cent quarter-on-quarter to Rs 3,062.28 crore in the December quarter. The operating margin of the company registered an increase of 0.90 percent and reached 14.9 percent. Before this, its margin had remained stable at 14 percent for two consecutive quarters.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent, said, “Our revenue has registered its 19th consecutive quarterly growth on a sequential basis. This is a growth of 4.3% on a quarterly basis and 19.9% on a yearly basis. This is our AI-led We also declared an interim dividend of Rs 20 per share, showing the strength of the platform-driven service strategy. Is.”
The company said that the total contract value of its order booking in the December quarter was $ 594.1 million and the annual contract value was $ 428.3 million. The company won several new deals during the quarter in healthcare and life sciences, emerging industries, software and high-tech sectors.
Shares of Persistent Systems closed 4.1 per cent lower at Rs 5,655 on NSE ahead of results on Wednesday. So far in the month of January, the company’s shares have fallen by about 12.15 percent. However, in the last one year its shares have given a return of about 37 percent.
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