The company’s consolidated revenue for the quarter under review came at Rs 2411.67 crore, a rise of 17.7% YoY, and a 3.9% gain sequentially. While, the dollar revenue came at $291.71 million, a 14.1% increase as compared to the year-ago period.
The company’s September quarter EBITDA grew 10.1% YoY to Rs 405.16 crore. However, sequentially (QoQ), EBITDA was down 4.2%.
The company reported its highest-ever deal win at a total contract value (TCV) of $475 million, a significant jump from $380 million in the previous quarter.
“Our proactive approach and ability to adapt has enabled us to thrive in this uncertain macroeconomic environment leading to our highest-ever TCV with more than $475 million in bookings in Q2FY24,” said Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems.
“I am also extremely proud to share that we won the Golden Peacock Award for Excellence in Corporate Governance for 2023. This is an acknowledgment of our unwavering commitment to the highest standards of corporate governance,” Kalra said.
At 11.14 a.m., the scrip traded 4% higher at Rs 5,917 on BSE. On a year-to-date basis, the stock has rallied nearly 50%, and 60% in the past one year.Technically, the stock’s day RSI (14) is at 51.3. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. The day MACD (12, 26, 9) is at 39.9, which is above its Center Line, but below the signal line.
Persistent shares are currently trading above their 10-day, 20-day, 50-day, 100-day, 150-day, and 200-day Simple Moving Averages (SMA).
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
