PERSISTENT SYSTEMS Announces Quarterly Results (3QFY21); Net Profit Up 37.5%

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PERSISTENT SYSTEMS Announces Quarterly Results (3QFY21); Net Profit Up 37.5%
Mon, 1 Feb

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

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m9,22710,07710,7546.7%16.5%
Other incomeRs m34816530081.9%-13.7%
TurnoverRs m9,57510,24211,0547.9%15.4%
ExpensesRs m7,9928,4138,9296.1%11.7%
Gross profitRs m1,2351,6641,8259.7%47.7%
DepreciationRs m4284404614.8%7.6%
InterestRs m151414-3.2%-6.8%
Profit before taxRs m1,1401,3751,65020.0%44.8%
TaxRs m26035544124.1%69.2%
Profit after taxRs m8791,0201,20918.6%37.5%
Gross profit margin%13.416.517.0
Effective tax rate%22.925.826.7
Net profit margin%9.210.010.9
* 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 16.5% on a year-on-year (YoY) basis. The expenses were up by 11.7% YoY during the same period.
  • The company's operating profit increased by 47.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.0% in 3QFY21 as against 13.4% in 3QFY20.
  • Depreciation charges increased by 7.6% and finance costs declined by 6.8% YoY, respectively.
  • Other income declined by 13.7% YoY during the quarter.
  • Net profit for the quarter increased by 37.5% YoY. Net profit margins during the quarter increased from 9.2% in 3QFY20 to 10.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.1% QoQ during the same period.
  • The company's operating profit increased by 9.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.0% in 3QFY21 as against 16.5% in 2QFY20.
  • Net profit for the quarter increased by 18.6% QoQ, while net profit margins increased from 10.0% in 2QFY20 to 10.9% in 3QFY21.

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 708.5 to Rs 1,541.5, registering a Gain of Rs 833.0 or around 117.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 25,145.2 (up 1.3%). Over the last one year it has moved up from 16,094.9 to 25,145.2, a gain of 9,050 points (up 56.2%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 1,541.5, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 31.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.8 times.

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Related Views on News

PERSISTENT SYSTEMS Announces Quarterly Results (2QFY21); Net Profit Up 18.5% (Quarterly Result Update)

Nov 4, 2020 | Updated on Nov 4, 2020

For the quarter ended September 2020, PERSISTENT SYSTEMS has posted a net profit of Rs 1 bn (up 18.5% YoY). Sales on the other hand came in at Rs 10 bn (up 13.9% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

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

Aug 26, 2020 | Updated on Aug 26, 2020

For the quarter ended June 2020, PERSISTENT SYSTEMS has posted a net profit of Rs 900 m (up 9.1% YoY). Sales on the other hand came in at Rs 10 bn (up 19.1% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

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