Persistent Systems Q2 Results Live: Profit Rises by 23.45% YoY | Mint

Persistent Systems Q2 Results Live : Persistent Systems declared their Q2 results on 22 October 2024, showcasing a robust performance with the topline increasing by 20.13% year-over-year and profit surging by 23.45%. Compared to the previous quarter, revenue grew by 5.84%, while profit saw an increase of 6.06%.

However, the company’s selling, general, and administrative expenses rose by 13.69% quarter-over-quarter and 11.17% year-over-year, reflecting increased operational costs.

On the operating front, Persistent Systems reported a 5.79% increase in operating income compared to the previous quarter, with a significant 22.7% rise year-over-year, indicating strong underlying business growth.

Earnings per share (EPS) for Q2 stood at ₹20.54, marking a 20.15% increase year-over-year, further strengthening the financial metrics of the company.

The stock performance of Persistent Systems has been impressive, delivering a 3.15% return in the last week, a remarkable 64.98% return over the last six months, and a 54.78% return year-to-date.

Currently, Persistent Systems boasts a market capitalization of ₹89,126.72 crore, with a 52-week high of ₹5,798.7 and a low of ₹2,840, showcasing significant market interest.

As of 24 October 2024, out of 29 analysts covering Persistent Systems, the ratings are varied, with 6 analysts giving a Strong Sell rating, 4 analysts recommending Sell, 5 suggesting Hold, 11 rating it as Buy, and 3 advising Strong Buy.

The consensus recommendation as of 24 October 2024 was to Hold, indicating a cautious but optimistic outlook on the company’s future performance.

Persistent Systems Financials