Persistent Systems Ltd's Q3FY19 consolidated net profit rises 4.06% qoq to Rs91.72 cr : In-line with Estimates

The company’s consolidated revenue stood at Rs864.25 cr, up 3.43% qoq and 9.14% yoy.

Jan 28, 2019 10:01 IST India Infoline Research Team

Persistent Systems Ltd Q3FY19

Consolidated Results Q3FY19: (Rs in cr)

Q3FY19 QoQ (%)
Revenue 864.25 3.4
EBIT 106.60 2.7
EBIT Margin (%) 12.3 [9]
Net Profit (adjusted) 91.72 4.1
***EBITDA margin change is bps
Persistent Systems reported broadly in-line set of numbers for Q3FY19. The revenue grew by 3.4% qoq to Rs864cr, which is in-line with the estimate of Rs863cr. The USD revenue increased by 2.2% qoq to USD120.8mn. EBIT for the quarter came in at Rs106.6cr, up 2.7% qoq, against the estimate of Rs108cr. EBIT margin remained flat at 12.3% during the quarter. PAT grew by 4.1% qoq to Rs91.7cr against estimate of Rs90cr.

Technical View:

Persistent Systems Ltd is currently trading at Rs. 568, up by 6.3 points or 1.12% from its previous closing of Rs. 561.70 on the BSE.
The scrip opened at Rs. 564.90 and has touched a high and low of Rs. 575 and Rs. 560.75 respectively. So far 3,92,972 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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