Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 31075.55 Crore) operating in IT Software sector.
Persistent Systems Ltd. key Products/Revenue Segments include Software Services and Software Licence for the year ending 31-Mar-2021.
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1522.38 Crore, up 10.03 % from last quarter Total Income of Rs 1383.66 Crore and up 37.72 % from last year same quarter Total Income of Rs 1105.41 Crore. Company reported net profit after tax of Rs 176.40 Crore in latest quarter.
The brokerage tweaks EPS estimates by 0.5-0.8% for FY22-24, factoring in the Q3 performance. It maintains Buy with a TP of Rs 5,000 at 40x Dec’23E EPS, considering favorable industry tailwinds and a strong earnings trajectory (30% EPS CAGR over FY21-24E).
Promoters held 31.26 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.3 per cent, DIIs 27.87 per cent.
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Source: The Economic Times
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