
Shares of Persistent Systems Ltd are in focus today after the IT firm announced its earnings for the quarter ended December 2023. Board of the company also recommended to the shareholders a resolution to split the face value of shares from Rs 10 per share to Rs 5 per share.
The board also declared an interim dividend of Rs 32 per share on the face value of Rs 10 each for the financial year 2023-2024.
Persistent Systems stock ended 0.80% percent higher at Rs 7924.25 on Saturday against the previous close of Rs 7861.30 on BSE. Market cap of the firm rose to Rs 60,957.29 crore on BSE.
The stock opened higher at Rs 7920. It has climbed 8.22% this year and risen 83.27% in the last one year. The stock delivered multibagger returns of 384.77% and 1336.68% in three and five years, respectively. Total 4776 shares of the firm changed hands amounting to a turnover of Rs 3.78 crore on BSE.
The stock has a beta of 0.1, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of Persistent Systems stock stands at 77.2, signaling it's trading in the overbought zone. Persistent Systems stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
December quarter net profit rose 8.7 percent on a quarter-on-quarter (QoQ) basis. Consolidated revenue in Q3 climbed 15.2 percent to Rs 2,498.2 crore in the last quarter. Sequentially, revenue rose 3.6 percent, the company said after market hours on Saturday.
Persistent Systems reported a 20.2 percent rise in net profit to Rs 286.1 crore year-on-year for the quarter ended December 31, led by a strong order book in Q3.
Operating margin climbed 17.7 percent in Q3 from 13.7 percent in the previous quarter.
Persistent Systems Limited is engaged in the business of providing software products and technology services. The company’s segments include banking, financial services, and insurance (BFSI), Healthcare & Life Sciences, and Technology Companies and Emerging Verticals.