PERSISTENT · Information Technology
Persistent Systems Ltd. reported revenue of ₹3,062 cr for October to December 2024, +22.6% on the year and +5.7% on the quarter. It is the highest quarterly revenue in the last 7 quarters on record.
Operating profit (EBITDA) was ₹538 cr, a margin of 17.6%, −12 bps on the year and +97 bps on the quarter. Over the last 7 quarters the margin has ranged from 16.1% to 17.7%, averaging 17.0%. Operating costs grew +22.8%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹373 cr, +30.4% on the year and +14.8% on the quarter, with earnings per share of ₹24.12. Profit before other income, one-offs and tax grew 25.1%, so 5 points of the headline growth came from outside the core business. The tax rate of 23% is in line with its recent average.
On earnings per share of ₹85.50 over the last four quarters, the stock at ₹6,040.00 trades at 70.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,412 cr | ₹2,498 cr | ₹2,591 cr | ₹2,737 cr | ₹2,897 cr | ₹3,062 cr | ₹3,242 cr | ₹3,334 cr | ₹3,581 cr | ₹3,778 cr | ₹4,056 cr | ₹4,303 cr |
| YoY | — | — | — | +18% | +20% | +23% | +25% | +22% | +24% | +23% | +25% | +29% |
| EBITDA margin | 16.8% | 17.7% | 17.5% | 16.6% | 16.6% | 17.6% | 18.0% | 18.4% | 19.1% | 19.4% | 18.9% | 16.2% |
| Other income, % of PBT | 10% | 10% | 8% | 8% | 11% | 9% | 4% | 10% | 8% | −9% | 5% | 11% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 26% | 20% | 24% | 25% | 23% | 22% | 23% | 24% | 22% | 21% | 22% |
| Net profit | ₹263 cr | ₹286 cr | ₹315 cr | ₹306 cr | ₹325 cr | ₹373 cr | ₹396 cr | ₹425 cr | ₹471 cr | ₹439 cr | ₹529 cr | ₹483 cr |
| YoY | — | — | — | +34% | +24% | +30% | +26% | +39% | +45% | +18% | +34% | +14% |
| Core profit YoY | — | — | — | +30% | +22% | +25% | +34% | +35% | +46% | +40% | +32% | +10% |
| EPS | ₹17.11 | ₹18.59 | ₹20.47 | ₹19.89 | ₹21.02 | ₹24.12 | ₹25.59 | ₹27.17 | ₹30.15 | ₹27.86 | ₹33.55 | ₹30.62 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Persistent Systems Ltd. reported revenue of ₹3,062 cr (+22.6% on the year) and net profit of ₹373 cr (+30.4% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved +25.1% on the year, against +30.4% for reported profit.
None of the 7 checks that could run raised a question.
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