Persistent Systems reports stellar growth 46% YoY in PAT for Q3 FY'22; stocks gain over 6%

21 Jan 2022 , 10:13 AM

Persistent Systems Ltd. on Thursday announced its Q3 results causing its share to trade 6% higher in the early morning trade than its previous closing price. The company reported a stellar growth of 45.9% in its profits for the quarter ending December 2021.

The company reported a Net Profit (PAT) of Rs 176.30 crores for Q3 FY’22 against Rs 120.90 crores for the previous corresponding quarter.
The company reported growth in its revenue of 38.7% for Q3 FY’22 at Rs. 1,491.70 crores against Rs 1,075.30 crores for Q3 FY’21.

Reported in dollar terms, the revenue edged up by 36.2% at $199.12 million for the quarter ending December 2021, against $146.15 million for the quarter ending December 2020.

The company is proud to announce another quarter of outstanding performance with 36% YoY growth. This is a result of the company’s robust designing capabilities and engineering new digital experiences, business models, and revenue streams for its clients, said the company.

The company employs 16,989 talent heads at the end of the quarter in consideration and has declared an interim dividend of Rs 20 for the FY 2021-22.

The company’s scrip touched a high of Rs 4,499.45 so far in today’s trade. The shares opened at Rs 4,246.90 against previous closing price of Rs 4,246.70. Persistent is currently trading at Rs 4,390.20, up by Rs 143.50 (3.38%) since its previous closing price.