Persistent reported steady revenue growth in Q3FY23.
- Revenue grew 3.5% QoQ in CC terms and 3.4% QoQ dollar terms
- EBIT margins improved ~80 bps QoQ to 15.4%
- Reported TCV was US$440.2 mn, up 19.7% QoQ & 31.7% YoY
Key triggers for future price performance
The company has achieved US$1 bn revenue on a quarterly annualised basis and is now aiming at US$2 bn annual revenue in the medium term Persistent acquired five companies in FY22, building capabilities in payments, cloud, etc. It is not shying away from acquisitions in coming years as well Strong deal win momentum will help improve its revenue growth. We expect dollar revenue to grow at 24.2% CAGR in FY22-25E along with EBIT margin expansion of ~180 bps to 15.6% over FY22-25E
For details, click on the link below: Link to the report
Shares of Persistent Systems Limited was last trading in BSE at Rs. 4323.75 as compared to the previous close of Rs. 4257.55. The total number of shares traded during the day was 26031 in over 3635 trades.
The stock hit an intraday high of Rs. 4361.00 and intraday low of 4234.40. The net turnover during the day was Rs. 111716116.00.