This IT firm announces dividend, reports 34.9% rise in PAT to ₹237.95 cr
1 min read . Updated: 18 Jan 2023, 07:05 PM IST
PremiumThe order booking for the quarter was at $440.2 million in total contract value (TCV)
Software services firm Persistent System, on Wednesday reported a 34.9 per cent rise in consolidated profit after tax to ₹237.95 crore for the December 2022 quarter. This is against a net profit of ₹ ₹1,76.4 crore in the year-ago period, Persistent Systems said in a regulatory filing.
The consolidated revenue of the Persistent Systems grew by 45.4 per cent to ₹ ₹2,169.3 crore in the quarter under review from ₹1491.7 crore a year ago.
The order booking for the quarter ended on December 31, 2022, was at $440.2 million in total contract value (TCV) and at $326.3 million in annual contract value (ACV) terms.
The Persistent System's board of directors has approved the payment of an interim dividend of ₹28 per equity share of ₹10 each for the Financial Year 2022-23.
The company has fixed January 27, 2023, as the Record Date for the dividend pay-out. At the current share price of ₹3959.60, this results in a dividend yield of 0.78 per cent.
“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.
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On Wednesday, the company's scrip on BSE closed trading 0.38 per cent lower at ₹3,959.55
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