Persistent Systems shares in focus after Q3 profit surges 30% YoY to Rs 373 crore
Persistent Systems shares will be in the spotlight on Thursday, January 23, after the company reported a 30.4% year-on-year (YoY) jump in net profit to Rs 373 crore for the third quarter ended December 31, 2024. The impressive growth was driven by its AI-led, platform-driven services strategy, despite a seasonally weak quarter for the IT sector.
The company's consolidated revenue for Q3 grew 22.6% YoY to Rs 3,062.28 crore, marking a 5.7% sequential increase. Operating margins also improved by 90 basis points to 14.9%, after remaining flat at 14% for the previous two quarters.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent said, “We recorded our 19th sequential quarter of revenue growth, with 4.3% Q-o-Q and 19.9% Y-o-Y increase — highlighting the strength of our AI-led, platform-driven services strategy. We also declared an interim dividend of Rs 20 per share.”
Also Read: Stocks in news: Ultratech, Dr Reddy's, HUL, Go Digit, Airtel
Meanwhile, following the Q3 results, brokerage firm Nomura maintained a 'Neutral' rating on Persistent Systems with a target price of Rs 6,200.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
St
