PERSISTENT SYSTEMS Announces Quarterly Results (2QFY20); Net Profit Down 2.3%

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PERSISTENT SYSTEMS Announces Quarterly Results (2QFY20); Net Profit Down 2.3%
Mon, 11 Nov

PERSISTENT SYSTEMS has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m8,3568,3218,8466.3%5.9%
Other incomeRs m23230038227.3%64.7%
TurnoverRs m8,5888,6229,2287.0%7.5%
ExpensesRs m6,9197,1197,6307.2%10.3%
Gross profitRs m1,4361,2021,2161.2%-15.3%
DepreciationRs m39938642510.0%6.6%
InterestRs m11918-0.6%1617.8%
Profit before taxRs m1,2691,0981,1565.3%-8.9%
TaxRs m3872732958.1%-23.9%
Profit after taxRs m8818258614.4%-2.3%
Gross profit margin%17.214.413.8
Effective tax rate%30.524.925.5
Net profit margin%10.39.69.3
* 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 5.9% on a year-on-year (YoY) basis. The expenses were up by 10.3% YoY during the same period.
  • The company's operating profit declined by 15.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.8% in 2QFY20 as against 17.2% in 2QFY19.
  • Depreciation charges increased by 6.6% and finance costs increased by 1617.8% YoY, respectively.
  • Other income increased by 64.7% YoY during the quarter.
  • Net profit for the quarter declined by 2.3% YoY. Net profit margins during the quarter declined from 10.3% in 2QFY19 to 9.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.2% QoQ during the same period.
  • The company's operating profit increased by 1.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.8% in 2QFY20 as against 14.4% in 1QFY19.
  • Net profit for the quarter increased by 4.4% QoQ, while net profit margins declined from 9.6% in 1QFY19 to 9.3% in 2QFY20.

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 559.2 to Rs 616.8, registering a Gain of Rs 57.6 or around 10.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,089.2 (down 1.0%). Over the last one year it has moved up from 14,185.5 to 15,089.2, a gain of 904 points (up 6.4%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 616.8, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 14.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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Related Views on News

PERSISTENT SYSTEMS Announces Quarterly Results (1QFY20); Net Profit Down 5.6% (Quarterly Result Update)

Jul 29, 2019 | Updated on Jul 29, 2019

For the quarter ended June 2019, PERSISTENT SYSTEMS has posted a net profit of Rs 825 m (down 5.6% YoY). Sales on the other hand came in at Rs 8 bn (down 0.3% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

PERSISTENT SYSTEMS Announces Quarterly Results (4QFY19); Net Profit Up 14.6% (Quarterly Result Update)

Apr 30, 2019 | Updated on Apr 30, 2019

For the quarter ended March 2019, PERSISTENT SYSTEMS has posted a net profit of Rs 845 m (up 14.6% YoY). Sales on the other hand came in at Rs 8 bn (up 10.5% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

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