Persistent Systems Q2 Results Live : Persistent Systems declared their Q2 results on 22 October 2024, showcasing a robust performance with the topline increasing by 20.13% year-over-year and profit surging by 23.45%. Compared to the previous quarter, revenue grew by 5.84%, while profit saw an increase of 6.06%.
However, the company’s selling, general, and administrative expenses rose by 13.69% quarter-over-quarter and 11.17% year-over-year, reflecting increased operational costs.
On the operating front, Persistent Systems reported a 5.79% increase in operating income compared to the previous quarter, with a significant 22.7% rise year-over-year, indicating strong underlying business growth.
Earnings per share (EPS) for Q2 stood at ₹20.54, marking a 20.15% increase year-over-year, further strengthening the financial metrics of the company.
The stock performance of Persistent Systems has been impressive, delivering a 3.15% return in the last week, a remarkable 64.98% return over the last six months, and a 54.78% return year-to-date.
Currently, Persistent Systems boasts a market capitalization of ₹89,126.72 crore, with a 52-week high of ₹5,798.7 and a low of ₹2,840, showcasing significant market interest.
As of 24 October 2024, out of 29 analysts covering Persistent Systems, the ratings are varied, with 6 analysts giving a Strong Sell rating, 4 analysts recommending Sell, 5 suggesting Hold, 11 rating it as Buy, and 3 advising Strong Buy.
The consensus recommendation as of 24 October 2024 was to Hold, indicating a cautious but optimistic outlook on the company’s future performance.
Persistent Systems Financials
Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
---|---|---|---|---|---|
Total Revenue | 2897.15 | 2737.17 | +5.84% | 2411.67 | +20.13% |
Selling/ General/ Admin Expenses Total | 1788.9 | 1573.5 | +13.69% | 1609.19 | +11.17% |
Depreciation/ Amortization | 74.5 | 71.2 | +4.63% | 74.4 | +0.13% |
Total Operating Expense | 2490.91 | 2353.15 | +5.85% | 2080.58 | +19.72% |
Operating Income | 406.24 | 384.02 | +5.79% | 331.09 | +22.7% |
Net Income Before Taxes | 434.52 | 400.54 | +8.48% | 355.76 | +22.14% |
Net Income | 325 | 306.42 | +6.06% | 263.27 | +23.45% |
Diluted Normalized EPS | 20.54 | 19.89 | +3.24% | 17.09 | +20.15% |
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