Persistent Systems profit jumps nearly 20% to ₹263 crore, revenue jumps 17.7%
Persistent Systems Q2 Results: The profit after tax surged 15%, sequentially. On the other hand, the mid-tier IT company's profit before tax came at ₹355.58 crore, a surge of 20.4% from September 2022, and 15.9% from the previous quarter.
IT services company Persistent Systems on Wednesday, October 18, reported a 19.7% year-on-year rise in its profit after tax to ₹263.27 crore for the quarter ended September 30. The net profit surged 15% sequentially.
On the other hand, the mid-tier IT company's profit before tax came at ₹355.58 crore, a surge of 20.4% from September 2022, and 15.9% from the previous quarter.
The company's consolidated revenue for the quarter under review came at ₹2411.67 crore, a rise of 17.7% year-on-year, and 3.9% gain sequentially. While, the dollar revenue came at $291.71 million, a 14.1% increase as compared to the year-ago period.
The earnings before interest, taxes, depreciation, and amortisation rose 10.1% on year-on-year basis, but fell 4.2% sequentially.
According to the company, the order booking for the quarter ended September 2023 came at $479.3 million in Total Contract Value and at $315.9 million in Annual Contract Value (ACV) terms.
The shares of the company ended half a percent in the red ahead of earnings on Wednesday, down for fourth day in a row.
First Published: Oct 18, 2023 4:11 PM IST
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