Persistent Systems gains over 5% as it reports robust Q4 and FY22 results
The PAT for FY22 has jumped over 53%.
Persistent Systems Ltd, an S&P 500 company primarily engaged in software and consulting business, has been trending on Dalal Street as it has rallied by about 5.17% from its previous close of Rs 4,076.90. The scrip opened at Rs 4,268 and made a day’s high of Rs 4,410.30.
The company announced its Q4 and FY22 results on 27th April. In Q4FY22, revenue grew by 47.11% YoY to Rs 1637.85 crore from Rs 1113.36 crore in Q4FY21. On a sequential basis, the top-line was up by 9.8%. Operating profit was reported at Rs 230 crore, up by 57.1% as compared to the year-ago period and the corresponding margin was reported at 14%, expanding by 80 basis points YoY. PAT was reported at Rs 200.9 crore, up by 45.9% from Rs 137.76 crore in the same quarter for the previous fiscal year. The PAT margin stood at 12.27% in Q4FY22 contracting from 12.37% in Q4FY21.
As far as the fiscal 2022 results are concerned, the revenues grew by 36.4% to Rs 5,710.7 crore as against FY21. The operating profit and PAT jumped by 56.1% and 53.2% to Rs 792 crore and Rs 690 crore, respectively. The stock price movement was sluggish in the morning but picked up in the afternoon. For FY22, the total contract value of the company stood at about Rs 9,170 crore. The board has also recommended a dividend of Rs 11 per share making it a total of Rs 31 dividend in FY22.
Persistent Systems Ltd designs, develops and maintains software systems and solutions, creates new applications and enhances the functionality of the customers‘ existing software products. The company is also engaged in the business of Telecom & Wireless, Infrastructure & Systems, Life Sciences & Healthcare. The stock has a 52-week high of Rs 4,986.85 and a 52-week low of Rs 1,926.
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