Persistent Systems Q3 net profit up 46% at Rs 176.3 crore

The business had logged a net profit of Rs 120.9 crore in the year-ago duration.

PTI

January 20, 2022 / 10:27 PM IST

Persistent Systems Q3 Net Profit Up 46% At Rs 176.3 Crore
Representative Image

Persistent Systems Q3 net profit up 46% at Rs 176.3 crore: IT firm Persistent Systems on Thursday said its net revenue increased 45.9 percent to Rs 176.3 crore in the December 2021 quarter.

The business had actually logged a net revenue of Rs 120.9 crore in the year-ago duration, Persistent Systems stated in a regulative filing.

Its profits increased 38.7 per cent to Rs 1,491.7 crore in the quarter under review from Rs 1,075.3 crore in the year-ago period, it added. In dollar terms, earnings was up 36.2 per cent at $199.12 million in the December 2021 quarter from $146.15 million in the October-December 2020 period.

ALSO READ: HUL Q3 results|Net earnings rises 16.8% YoY to Rs 2,243 crore, in line with price quotes” We are proud to announce another quarter of exceptional performance, with 36.2 percent year-over-year growth.

This sustained momentum is an outcome of our strong abilities in creating and engineering new digital experiences, income streams, and business designs for our customers,” Persistent Systems CEO and Executive Director Sandeep Kalra said.

He added that as the company progresses on its development journey, it will continue to enable clients with differentiated digital engineering competence and options to help them disrupt their industries and develop more worth for their clients.

” And finally, we welcomed Avani Davda to Persistent’s Board of Directors and continued to add new experienced executives to our leadership group. In addition, we onboarded the very first member to the Persistent Advisor Network, Werner Boeing, previous Roche Diagnostics CIO,” he said.

The order booking for the quarter ended December 31, 2021 was at$ 334.3 million in Total Contract Value( TCV) and at $291.3 million in Yearly Agreement Worth( ACV).

The business had 16,989 employees at the end of the 3rd quarter of FY22. The Board of Directors stated an interim dividend of Rs 20 per share for the fiscal year 2021-2022. The Board of Directors declared an interim dividend of Rs 20 per share for the fiscal year 2021-2022.

Follow TimesNewsNow

Follow For Cricket News