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    Rising share of new business to drive growth at Persistent

    Synopsis

    Persistent’s fourth quarter numbers were a mixed bag. While revenue growth met the analysts’ expectations, the margin performance was below estimates. Revenue grew by 3.4% sequentially to $ 310.9 million for the quarter.

    The stock of Persistent Systems, a Pune headquartered mid-tier IT company, has lost over 10% in the past three trading sessions after it said the estimated operating margin expansion would be delayed beyond the earlier target of FY25. In addition, the value of its new deal wins in the March quarter was below market expectations. Taking cues from the flat margin outlook, analysts have cut the company’s earnings per share (EPS) forecast for FY25
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    The Economic Times