Persistent Systems Q3 PAT up 45.88% at Rs176.40cr on robust profit growth in technology vertical

21 Jan 2022 , 01:01 PM

Persistent Systems Ltd reported 38.71% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs1,491.72cr. On a sequential basis, the revenues were higher for the quarter by 10.40%.

During the quarter, Persistent reported 52% growth in the BFSI vertical at Rs481cr and 50% growth in the healthcare & Lifesciences vertical. The technology and emerging business vertical saw revenue growth yoy of 27% at Rs702cr.

The employee strength of Persistent increased 36% yoy at 16,989 personnel. America is 79.2% of revenues.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 45.88% at Rs176.40cr. The EBIT margins have scaled up from 9.2% to 14% over the last 7 quarters.

The board has also declared a dividend of Rs.20 per share. In terms of business, Persistent caters to the technology space and much less to the BFSI and the and healthcare space. PAT margins were marginally higher from 11.24% in Dec-20 to 11.83% in Dec-21 quarter.

Sequential net margins were marginally lower by 14 bps as pressure of manpower and attrition is showing.

Financial highlights for Dec-21 compared yoy and sequentially

	Persistent Systems
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,491.72	₹ 1,075.40	38.71%	₹ 1,351.25	10.40%
Net Profit (Rs cr)	₹ 176.40	₹ 120.92	45.88%	₹ 161.75	9.06%
Diluted EPS (Rs)	₹ 23.08	₹ 15.82		₹ 21.16
Net Margins	11.83%	11.24%		11.97%