Persistent Systems advanced 3.31% to Rs 4092.60 after the company reported 8.2% rise in net profit to Rs 237.95 crore on a 5.9% increase in revenue to Rs 2,169.37 crore in Q3 FY23 over Q2 FY23.
Gross profit during the period under review was Rs 733.36 crore, up 6.9% QoQ. While EBITDA rose by 9.1% QoQ to Rs 401.56 crore, EBITDA margin improved by 50 bps QoQ to 18.5% in Q3 FY23.
Profit before tax in the third quarter stood at Rs 322.79 crore, up by 9.2% from Rs 295.60 crore in Q2 FY23.
As compared with Q3 FY22, the company's net profit and revenue are higher by 34.9% and 45.4%, respectively.
In dollar terms, the company's revenue in Q3 FY23 was $264.35 million. Services revenue was $242.65 million (up 3% QoQ) and IP Led revenue was $21.70 million (up 8.6% QoQ).
The order booking for the quarter ended on 31 December 2022, was at $440.2 million in total contract value (TCV) and at $326.3 million in annual contract value (ACV) terms.
Total headcount was 22,598, up 33% YoY. Attrition rate on TTM basis was 21.6% in Q3 FY23 as against 23.7% in Q2 FY23 and 24.8% in Q1 FY23.
The board of directors declared an interim dividend of Rs 28 per share on the face value of Rs 10 each for the financial year 2022-2023.
Sandeep Kalra, chief executive officer and executive director, Persistent, said: We are delighted to announce the 11th sequential quarter of revenue growth, fueled by our continued investments in innovative technologies and our differentiated Digital Engineering expertise.
In this dynamic macro-economic environment, we are closely collaborating with our clients and partner ecosystem to create competitive advantage and drive business value. As a result, we won several large deals across industries and service lines, driving 20% sequential growth in total contract value (TCV) bookings.
Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app