Persistent Systems share price rises 6% on better Q3 numbers

Stocks

The share touched a 52-week high of Rs 4,986.85 and a 52-week low of Rs 1,482.05 on 03 January, 2022 and 29 January, 2021, respectively.

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Persistent Systems share price gained 6 percent intraday to trade at Rs 4,500 on January 21 after the company showed improved performance for the quarter ended December 2021.

Persistent Systems has posted a 45.87 percent jump in its net profit at Rs 176.39 crore for the quarter ended last December as against Rs 120.92 crore a year back.

The Q3FY21 consolidated revenue was up 38.71 percent at Rs 1,491.71 crore against Rs 1,075.39 crore, YoY.

The board of directors of the company has approved the payment of an interim dividend of Rs 20 per equity share of Rs 10 each for the financial year 2021-22.

The order booking for the quarter ended on December 31, 2021 was at $ 334.3 million in total contract value (TCV) and at $ 291.3 million in annual contract value (ACV).

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“We are proud to announce another quarter of exceptional performance, with 36.2 percent 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,” said Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems.

At 11:38am, Persistent Systems was quoting at Rs 4,287.90, up Rs 49.40, or 1.17 percent, on the BSE.

The share touched a 52-week high of Rs 4,986.85 and a 52-week low of Rs 1,482.05 on January 3, 2022 and January 29, 2021, respectively. It is trading 14.02 percent below its 52-week high and 189.32 percent above its 52-week low.