PERSISTENT SYSTEMS Announces Quarterly Results (1QFY21); Net Profit Up 9.1%

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PERSISTENT SYSTEMS Announces Quarterly Results (1QFY21); Net Profit Up 9.1%
Wed, 26 Aug

PERSISTENT SYSTEMS has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m8,3219,2649,9147.0%19.1%
Other incomeRs m300293212-27.6%-29.3%
TurnoverRs m8,6229,55710,1266.0%17.5%
ExpensesRs m7,1197,9948,4565.8%18.8%
Gross profitRs m1,2021,2691,45814.9%21.3%
DepreciationRs m3864204363.7%12.8%
InterestRs m19121421.2%-23.5%
Profit before taxRs m1,0981,1301,2208.0%11.2%
TaxRs m2732923209.6%17.4%
Profit after taxRs m8258389007.4%9.1%
Gross profit margin%14.413.714.7
Effective tax rate%24.925.926.3
Net profit margin%9.68.88.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 19.1% on a year-on-year (YoY) basis. The expenses were up by 18.8% YoY during the same period.
  • The company's operating profit increased by 21.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.7% in 1QFY21 as against 14.4% in 1QFY20.
  • Depreciation charges increased by 12.8% and finance costs declined by 23.5% YoY, respectively.
  • Other income declined by 29.3% YoY during the quarter.
  • Net profit for the quarter increased by 9.1% YoY. Net profit margins during the quarter declined from 9.6% in 1QFY20 to 8.9% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.8% QoQ during the same period.
  • The company's operating profit increased by 14.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.7% in 1QFY21 as against 13.7% in 4QFY20.
  • Net profit for the quarter increased by 7.4% QoQ, while net profit margins increased from 8.8% in 4QFY20 to 8.9% in 1QFY21.

To see how PERSISTENT SYSTEMS has performed over the last eight quarters,please visit here.

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PERSISTENT SYSTEMS Share Price Performance

Over the last one year,PERSISTENT SYSTEMS share price has moved up from Rs 531.2 to Rs 1,053.2, registering a Gain of Rs 522.0 or around 98.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 18,227.7 (up 0.4%). Over the last one year it has moved up from 16,054.4 to 18,227.7, a gain of 2,173 points (up 13.5%).

Overall, the S&P BSE SENSEX is up 3.7% over the year.

Current Valuations

At the current price of Rs 1,053.2, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 24.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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Apr 23, 2021 01:54 PM

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