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PERSISTENT SYSTEMS Plunges 5%; BSE IT Index Down 1.5%
Thu, 3 Oct 12:15

PERSISTENT SYSTEMS Plunges 5%; BSE IT Index Down 1.5%Image source: Kameleon007 /www.istockphoto.com

PERSISTENT SYSTEMS share price has plunged 5% and is presently trading at Rs 5,230.7.

Meanwhile, the BSE IT index is at 42,188.1 (down 1.5%).

Among the top losers in the BSE IT index today are L&T TECHNOLOGY SERVICES (down 4.3%) and Wipro (down 2.9%).

INFIBEAM AVENUES (up 7.1%) and KPIT TECHNOLOGIES (up 1.2%) are among the top gainers today.

Over the last one year, PERSISTENT SYSTEMS has moved up from Rs 2,865.8 to Rs 5,230.7, registering a gain of Rs 2,364.9 (up 82.5%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,188.1, registering a gain of 31.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 173.9%), Firstsource Solutions (up 88.8%) and PERSISTENT SYSTEMS (up 82.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 82,980.8 (down 1.5%).

The top losers among the BSE Sensex today are Tata Motors (down 3.9%) and Asian Paints (down 3.7%). The most traded stocks in the BSE Sensex are HDFC Bank and Reliance Ind..

In the meantime, NSE Nifty is at 25,412.0 (down 1.5%). BPCL and Tata Motors are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 82,980.8, registering a gain of 17,468.7 points (up 26.7%).

PERSISTENT SYSTEMS Financial Update...

PERSISTENT SYSTEMS net profit grew 33.9% YoY to Rs 3,064 million for the quarter ended June 2024, compared to a profit of Rs 2,288 million a year ago. Net sales rose 17.9% to Rs 27,372 million during the period as against Rs 23,212 million in April-June 2023.

For the year ended March 2024, PERSISTENT SYSTEMS reported 18.7% increase in net profit to Rs 10,935 million compared to net profit of Rs 9,211 million during FY23. Revenue of the company grew 17.6% to Rs 98,216 million during FY24.

The current Price to earnings ratio of PERSISTENT SYSTEMS, based on rolling 12 month earnings, stands at 68.8.


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