Persistent Systems shares fall over 5% post Q4 results

However, the company reported a total contract value (TCV) of $447.7 million in the March quarter, a decrease from $475 million in the previous quarter, which was its highest-ever deal win.

The EBIT margin or operating margin remained steady at 14.5% quarter-on-quarter (QoQ). Last year, Persistent Systems had expressed its anticipation of enhancing margins by 200-300 basis points over the ensuing two to three years.

The Board of Persistent Systems has recommended a final dividend of Rs 10 per equity share having a face value of Rs 5 for the FY24. The dividend recommended by the Board is subject to approval at the ensuing annual general meeting.

In January 2024, its Board had declared an interim dividend of Rs 32 per share on the face value of Rs 10 per share.

Anand Deshpande, Founder, Chairman and Managing Director of Persistent, said, "Our continued success this fiscal year is a testament to our innovative spirit, remarkable resilience, and strategic foresight, powering the digital transformation journeys of our clients. We approach every challenge as an opportunity and every achievement as a stepping-stone for future endeavors. Our determination to excel in everything we do has helped us set new benchmarks in the industry. We will continue to push the boundaries to scale new heights in the coming year.”

At 10:14 am, the stock was trading 5.1% lower at Rs 3,687 on the BSE. With its recent decline of over 7% in the last three months, the stock has underperformed the benchmark BSE Sensex. However, it has showcased impressive growth, delivering over 70% returns in the past one year.

Also Read:

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)