Persistent Systems shares soar 10%, hit 52-week high on strong Q3 show

Persistent Systems share price jumped 10% to hit a new 52-week high at Rs 8,716 in Tuesday’s trade on BSE after the firm reported a 20.2% growth in net profit to Rs 286.1 crore year-on-year (YoY) for the December quarter, driven by a strong order book in Q3 FY24.

Its consolidated revenue for the December quarter stood at Rs 2,498.2 crore, a jump of 15.2% from the same quarter of the previous year. Sequentially, revenue was up 3.6%.

The EBITDA margin or operating margin increased to 17.7% from 13.7% in the previous quarter. Persistent Systems had said earlier that it expected to improve margins by 200-300 basis over the next two to three years.