Persistent Systems reports net profit of Rs211.61 crore for Q1FY23; stock gains ~1.5%

22 Jul 2022 , 01:03 PM

Persistent Systems Limited announced its audited results for the quarter ended June 30, 2022, as approved by the Board of Directors.

The company reported a revenue of Rs1,878.11 crore in Q1FY23, registering a growth of 52.70% on a year-on-year basis, and 17.7% over the last quarter.

Persistent’s EBITDA during the quarter under review stood at Rs333.29 crore, up by 65.4% yoy and 18.5% sequentially.

Company logged a growth of 39.90% yoy in Net Profit during the quarter at Rs211.61 crore, registering a growth of 5.3% against the previous quarter.

On July 19, 2022, the Company held its 32 Annual General Meeting. All resolutions, including the final dividend payment of Rs11 per share, received the required majority vote.

Order booking was $394 million in Total Contract Value (TCV) and $263 million in Annual Contract Value (ACV) for the quarter ended June 30, 2022. (ACV).

Further, the employee strength of the company reaches over 21,500 talent heads.

At around 1.07 PM, Persistent Systems was trading at Rs3,613.75 per piece, up by 1.39% from its previous closing of Rs3,564.35 on the BSE. The scrip hit intraday high and low of Rs3,752 and Rs3,593.80 respectively.