This IT software company reported a 25% rise in Q4 consolidated net profit

This IT software company reported a 25% rise in Q4 consolidated net profit

by 5paisa Research Team Last Updated: Apr 26, 2023 - 05:28 pm 885 Views
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Shares of this company gained 9.40% in the last one year. 

About the Report 

In the quarter under review, Persistent Systems' net profit increased by 32.86% to Rs 258.40 crore from Rs 194.49 crore in the same period the year prior. In Q4FY23, the company's total revenue climbed by 39.15% to Rs 1494.56 crore from Rs 1,074.10 crore in a similar period the year prior.

In comparison to the same quarter last year, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 25.14% to Rs 251.51 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 34.73% to Rs 2,263.30 crore from Rs 1,679.93 crore in a similar period the year prior. 

The firm recorded a 33.42% increase in net profit for the year ended March 31, 2023, from Rs 690.39 crore to Rs 921.09 crore on a consolidated basis. In the year under review, the company's total revenue climbed by 43.84% to Rs 8,421.20 crore from Rs 5,854.70 crore for the year ended March 31, 2022. 

Share Price Moment 

Yesterday the script was closed at Rs 4472.10, today it was opened at Rs 4429.95 and touched a high and low of Rs 4545.85 and Rs 4349.55, respectively at BSE. It closed around Rs 4464.20, So far 15,300 shares were traded on the counter. 

The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs. 5131.15 and a 52-week low of Rs 3091.65. 

About the Company 

Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. It also has partnerships with providers such as Salesforce and AWS. 

Promoters holding in the company stood at 31.26%, while Institutions and Non-Institutions held 48.14% and 20.58% respectively. 

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