Persistent Systems has rallied nearly 5% at Rs 754, also its record high on BSE, after reporting a 8.6% quarter-on-quarter (qoq) growth in dollar revenues at $68.5 million for the quarter ended September 2013 (Q2) led by robust 38% qoq growth in IP-led revenues.
In Indian rupee (INR) terms, revenues grew 21% qoq at Rs 432 crore, while net profit by 6.4% qoq at Rs 60.79 crore during the recently concluded quarter.
The company’s EBITDA margin grew substantially by around 420bp qoq to 26.0%, aided by strong volume growth as well as INR depreciation.
The management remains confident of FY2014 with deal pipeline being strong and remains focused on increasing the share of IP-led revenues in its portfolio, says analyst at Angel Broking in a note.
Meanwhile, the stock has outperformed the market by surging 27% in past one month on hopes of strong Q2 earnings. The benchmark S&P BSE Sensex has rose 3%, while IT sector indeed gained 9.4% during the same period.
In Indian rupee (INR) terms, revenues grew 21% qoq at Rs 432 crore, while net profit by 6.4% qoq at Rs 60.79 crore during the recently concluded quarter.
The company’s EBITDA margin grew substantially by around 420bp qoq to 26.0%, aided by strong volume growth as well as INR depreciation.
The management remains confident of FY2014 with deal pipeline being strong and remains focused on increasing the share of IP-led revenues in its portfolio, says analyst at Angel Broking in a note.
Meanwhile, the stock has outperformed the market by surging 27% in past one month on hopes of strong Q2 earnings. The benchmark S&P BSE Sensex has rose 3%, while IT sector indeed gained 9.4% during the same period.
