Persistent Systems’ share price will draw attention on Monday following the release of its fourth-quarter FY24 earnings. The company reported a net profit of ₹315.3 crore for the quarter ended March 2024, marking a 25.36% YoY growth.
In Q4FY24, Persistent Systems recorded consolidated revenue of ₹2,590 crore, up 14.9% YoY, while revenue in USD terms grew 13.2% YoY to $310.89 million.
Order bookings for the quarter stood at $447.7 million in Total Contract Value (TCV) and $316.8 million in Annual Contract Value (ACV) terms.
The Board of Directors proposed a final dividend of ₹10 per share for FY23-24, pending approval at the Annual General Meeting.
Sandeep Kalra, CEO and Executive Director of Persistent Systems, expressed confidence in the company’s ability to drive sustainable growth through strategic investments in disruptive technologies like AI.
Year-to-date, Persistent Systems’ share price has seen a modest increase of over 5%, while it has surged by 80% in the past year and over 300% in the last three years.
On Friday, Persistent Systems’ shares closed 1.21% higher at ₹3,887.60 on the BSE.
