Persistent Systems Soars: 1,962% Return in Five Years, Strong Q4 Performance
Persistent Systems Ltd. reported impressive Q4 financial results, with revenue reaching Rs 3,242 crore, up 5.9% QoQ. Net profit increased by 6.1% to Rs 396 crore. The company's EBIT margin improved to 15.6%, up from 14.9% in the previous quarter. The stock closed at Rs 5,965.50, marking a 0.33% increase in the latest trading session. Persistent Systems has delivered a 1,962.71% return over the past five years and a 54.5% gain in the current year.
06May 25
Persistent Systems Surges 25% in Four Weeks, Reaffirms $2 Billion Revenue Target
Persistent Systems has experienced a 25% stock price increase over the past four weeks, following robust Q4 performance. The company reported a 5.9% sequential revenue growth to ₹3,242.00 crore and a 6.1% profit increase to ₹396.00 crore. Operating margin expanded to 15.60%. Persistent Systems maintains its target of $2 billion revenue by FY27, supported by increased deal bookings and growing client base in higher-value contracts. The company recently engaged with investors, including a virtual interaction with Jetha Global and a rescheduled session with Sumitomo Mitsui DS Asset Management.
Persistent Systems Strengthens Position with NCLT Approval of Capiot Software Merger
Persistent Systems Limited has received NCLT Mumbai's approval for merging its wholly-owned subsidiary, Capiot Software Private Limited. The merger, effective from April 1, 2024, aims to streamline operations, reduce costs, and enhance capabilities in the IT services sector. The consolidation is expected to simplify corporate structure, achieve synergies, and improve operational efficiency. The merger order includes directives on regulatory compliance and employee transfer terms.