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Persistent Systems Q2 Results: Share Price Soars 10% to Record ₹5,674 on 23% Profit Jump – Read More!

Persistent Systems Q2 Results: Share price surged 10% to an all-time high of ₹5,674, driven by a 23% net profit rise in July-September 2024, marking its best session in months.
Persistent Systems Q2 Results: Share Price Soars 10% to Record ₹5,674 on 23% Profit Jump - Read More!

Persistent Systems Q2 Results : Persistent Systems Ltd. experienced a 10% surge in its share price on Tuesday, hitting the upper circuit and marking its best session in nine months. The jump followed a 23% rise in net profit for the July-September 2024 quarter, with consolidated profit reaching ₹324.9 crore compared to ₹263.2 crore in the same period last year.

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The company’s share price peaked at ₹5,674 on the NSE during the day, locked in the upper circuit. This is the highest the stock has traded, marking an all-time high for the company, thanks to the impressive Q2 FY25 results. In comparison, the Nifty 50 advanced just 0.33%.

Also Read: Coforge Q2 Results: Revenue Soars 27.6% in July-September!

Revenue from operations for the IT services firm climbed 20% to ₹2,897.1 crore from ₹2,411.6 crore in the previous year’s September quarter. The company also recorded total order bookings of $529 million (around ₹4,447 crore) in contract value, reflecting Persistent continued growth and expanding operations.

Persistent Systems reported an EBIT increase of 5.8% quarter-on-quarter to ₹406.2 crore, while maintaining an EBIT margin of 14%. The company’s revenue in dollar terms also saw growth, rising 5.3% quarter-on-quarter to $345.5 million, driven by robust business performance.

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Also Read: Rupee Hits Record Low at ₹84.077 – Details Inside!

CEO Sandeep Kalra highlighted the company’s consistent 18th consecutive quarter of revenue growth, with a focus on AI-led, platform-driven services. The acquisition of Starfish Associates and Arrka further strengthened Persistent digital governance and AI capabilities, driving the company’s future growth trajectory.

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