Persistent Systems share price: Information technology (IT) company Persistent Systems shares dropped as much as 6.71 per cent to hit an intraday low of Rs 5,500 per share on Wednesday, January 22, 2025.
The fall in Persistent Systems share price came in anticipation of December quarter of financial year 2025 (Q3FY25) results, which will be announced later today.
The company had posted a strong result in the previous quarter of the current fiscal year (Q2FY25).
The company’s consolidated net profit rose 23.4 per cent to Rs 324.90 crore in the September quarter (Q2FY25), as against Rs 263.2 crore in the year-ago period (Q2FY24).
Persistent Systems reported dollar revenue at $345.5 million, up 5.3 per cent quarter-on-quarter (Q-o-Q) and 18.4 per cent year-on-year (Y-o-Y). In constant currency (CC) terms, revenue rose 5.1 per cent Q-o-Q.
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Its earnings before interest tax (Ebit) stood at Rs 406.2 crore, up 5.8 per cent Q-o-Q and 28.8 per cent Y-o-Y, while Ebit margins remained stable at 14 per cent, flat Q-o-Q, but up 30 basis points (bps) Y-o-Y.
Earlier this week, Persistent Systems announced that it has achieved [ICRA]AA+ (Stable) credit rating, reinforcing its strong financial position, business resilience, and operational excellence.
About Persistent Systems
Persistent Systems is a global technology services company specialising in digital engineering and enterprise modernisation. It empowers businesses by delivering cutting-edge solutions in software engineering, cloud computing, IoT, customer experience (CX) transformation, and enterprise IT security.
The company’s expertise spans across product and platform engineering, data analytics, cloud-enabled modernisation, and intelligent automation, helping organisations stay competitive in an evolving digital landscape.
With a strong focus on innovation and efficiency, Persistent Systems supports enterprises in enhancing their operations through secure, scalable, and data-driven solutions.
Serving a diverse range of industries, Persistent Systems partners with businesses in banking and financial services, insurance, healthcare, life sciences, industrial sectors, software and hi-tech, telecom, media, and consumer technology. Its global footprint extends across key regions, including India, the US, France, South Africa, Singapore, Japan, and Australia, enabling them to provide localised expertise with a global perspective.
At 11:42 AM, Persistent Systems shares were trading 7.05 per cent lower at Rs 5,480.05. In comparison, BSE Sensex was trading 0.30 per cent higher at 76,067.41 levels.