Persistent Systems Share Price: After a spectacular result of the December quarter, brokerage firms became a share rocket of Persistant Systems on the positive trend of Jaypemorn. Even in the selling environment, its shares jumped more than 4 per cent in intra-day. Despite the profit booking, the stocks have maintained their strength and currently up 4.46% on BSE at ₹ 5783.10. It jumped 4.57% to ₹ 5788.90 in intra-day. Talking about the move of shares in a year, on 4 June 2024 last year, it rose more than 110% in one year low to six months to six months to reach a record high of ₹ 6788.80 on 20 December 2024. Currently, it is about 15 percent of this highs.
How was the December quarter for Persistent Systems?
The December quarter for personal systems remained as expected by the market on almost all fronts. The company’s net profit rose 14% to ₹ 373 crore, which was slightly more than the market’s estimate of ₹ 350 crore. The company’s revenue in the US dollar also rose 5% on a quarterly basis to $ 36.02 crore and was estimated to be $ 36.27 crore in the CNBC-TV18 pole. In the term of the rupee, the market was estimated to have a revenue of ₹ 3,060 crore but the company’s revenue jumped 5.7% to ₹ 3,062 crore. The operating profit margin 0.90 percent of the percentage points rose to 14.9% while the estimate was 14.6%. The company has also announced an interim dividend of ₹ 20 per share.
What is the trend of brokerage?
Jaypeemorgan has given outperform rating to Persistant Systems and has fixed the target price of ₹ 7,200. The brokerage firm says that this company is moving forward in all the stock it is covering. Brokerage estimates that in FY 2025-27, the company’s revenue may increase with a compound rate (CAGR) of 21% annually and 29%. Brokerage says that the management has done a good job even in a difficult environment and the decline in its shares for some time has created a better atmosphere for shopping.
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