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Persistent Systems Ltd Q2FY21 consolidated net profit climbs to Rs. 101.98 crore

Posted On: 2020-10-23 21:06:34


PERSISTENT SYSTEMS LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1024.24 crores during the period ended September 30, 2020 as compared to Rs.1012.61 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.101.98 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.90 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.13.34 for the period ended September 30, 2020 as compared to Rs.11.78 for the period ended June 30, 2020.

FinancialsQ2 FY20-21Q1 FY20-21% Change
Total Income₹ 1024.24 crs₹ 1012.61 crsUp Tick 1.15%
Net Profit₹ 101.98 crs₹ 90 crsUp Tick 13.31%
EPS₹ 13.34₹ 11.78Up Tick 13.24%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.1024.24 crores during the period ended September 30, 2020 as compared to Rs.922.84 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.101.98 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.86.07 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.13.34 for the period ended September 30, 2020 as compared to Rs.11.26 for the period ended September 30, 2019.

FinancialsQ2 FY20-21Q2 FY19-20% Change
Total Income₹ 1024.24 crs₹ 922.84 crsUp Tick 10.99%
Net Profit₹ 101.98 crs₹ 86.07 crsUp Tick 18.48%
EPS₹ 13.34₹ 11.26Up Tick 18.47%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.2036.85 crores during the 6 months period ended September 30, 2020 as compared to Rs.1784.99 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.191.99 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.168.54 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.25.12 for the 6 months period ended September 30, 2020 as compared to Rs.21.90 for the 6 months period ended September 30, 2019.

FinancialsHalf-Year Ended FY20-21Half-Year Ended FY19-20% Change
Total Income₹ 2036.85 crs₹ 1784.99 crsUp Tick 14.11%
Net Profit₹ 191.99 crs₹ 168.54 crsUp Tick 13.91%
EPS₹ 25.12₹21.90Up Tick 14.7%

"It is tremendously gratifying that as we celebrate our 30th anniversary, we see renewal and rejuvenation of the energy and ingenuity that are hallmarks of Persistent. We hit significant milestones, for the first time ever exceeding ₹1000 Crore in revenue and ₹100 Crore in profit in one quarter. The growth we see across our business is the result of a shared passion through all of Persistent for innovation and helping our clients not just meet but exceed their business expectations. We are looking forward to the next phase of our growth journey, as Sandeep Kalra takes over the CEO role. I wish him all the best and look forward to continuing to work with him on the future of Persistent." - Dr. Anand Deshpande, Founder, Chairman and Managing Director.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems, "We delivered yet another strong quarter on the back of our strong Q1. Our continued focus on delivery excellence and expanding the value of our expertise across our accounts were the key drivers for this growth. Winning the 2020 ISG Star of Excellence speaks volumes about the strength of our strategy and client focus, as the award is based directly on client feedback. The trust placed in me by Anand and the Board to be the CEO inspires me to lead the team to continued new heights and advance Persistent's growth and leadership in the market."

Shares of PERSISTENT SYSTEMS LTD. was last trading in BSE at Rs.1171 as compared to the previous close of Rs. 1179.95. The total number of shares traded during the day was 13343 in over 2517 trades.

The stock hit an intraday high of Rs. 1224 and intraday low of 1151.25. The net turnover during the day was Rs. 15789952.


Source: Equity Bulls

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