Persistent Systems jumps after Q3 earnings

Persistent Systems rose 4.89% to Rs 592.25 at 9:22 IST on BSE after consolidated net profit rose 4.06% to Rs 91.72 crore on 3.43% increase in net sales to Rs 864.25 crore in Q3 December 2018 over Q2 September 2018.

The result was announced after market hours yesterday, 28 January 2019.

Meanwhile, the S&P BSE Sensex was down 79.38 points, or 0.22% to 35,577.32.

On the BSE, 8782 shares were traded in the counter so far compared with average daily volumes of 9495 shares in the past two weeks. The stock had hit a high of Rs 594.95 and a low of Rs 583 so far during the day. The stock hit a 52-week high of Rs 915 on 10 September 2018. The stock hit a 52-week low of Rs 532.80 on 13 November 2018.

Further, Persistent Systems' board approved buyback of equity shares under open market route for an aggregate amount not exceeding Rs 225 crore (10% of net worth) at a maximum buyback price not exceeding Rs 750 per share.

Persistent Systems builds software that drives the business of its customers; serving software product companies and enterprises with software at the core of their digital transformation.

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