Persistent Systems zooms 6% as Q3 profit jumps 46% YoY
Agencies
Synopsis
The company’s revenue increased 38.7 per cent to Rs 1,491.7 crore in the quarter under review from Rs 1,075.3 crore in the year-ago period, it said in an exchange filing on Thursday.
By Bhaskar Dutta, ETMarkets.com
NEW DELHI – Shares of Persistent Systems jumped 6 per cent in early trade on Friday as the IT firm said that its net profit rose 45.9 per cent to Rs 176.3 crore in the December 2021 quarter. The company had logged a net profit of Rs 120.9 crore in the year-ago period.
The company’s revenue increased 38.7 per cent to Rs 1,491.7 crore in the quarter under review from Rs 1,075.3 crore in the year-ago period, it said in an exchange filing on Thursday.
In dollar terms, revenue was up 36.2 per cent at $199.12 million in the December 2021 quarter from $146.15 million in the October-December 2020 period.
"We are proud to announce another quarter of exceptional performance, with 36.2 per cent year-over-year growth. This sustained momentum is a result of our strong capabilities in designing and engineering new digital experiences, revenue streams, and business models for our clients," Persistent Systems CEO and Executive Director Sandeep Kalra was quoted as saying in a PTI report.
According to Kalra, as the company progresses on its growth journey, it will continue to enable clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers.
The company had 16,989 employees at the end of the third quarter of FY22, PTI reported, adding that the Board of Directors declared an interim dividend of Rs 20 per share for the financial year 2021-2022.
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The company’s scrip rose to a high of Rs 4,499.45 against the previous close of Rs 4,246.70 on the National Stock Exchange.The company’s revenue increased 38.7 per cent to Rs 1,491.7 crore in the quarter under review from Rs 1,075.3 crore in the year-ago period, it said in an exchange filing on Thursday.
In dollar terms, revenue was up 36.2 per cent at $199.12 million in the December 2021 quarter from $146.15 million in the October-December 2020 period.
"We are proud to announce another quarter of exceptional performance, with 36.2 per cent year-over-year growth. This sustained momentum is a result of our strong capabilities in designing and engineering new digital experiences, revenue streams, and business models for our clients," Persistent Systems CEO and Executive Director Sandeep Kalra was quoted as saying in a PTI report.
According to Kalra, as the company progresses on its growth journey, it will continue to enable clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers.
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The company had 16,989 employees at the end of the third quarter of FY22, PTI reported, adding that the Board of Directors declared an interim dividend of Rs 20 per share for the financial year 2021-2022.
