PERSISTENT SYSTEMS Announces Quarterly Results (1QFY22); Net Profit Up 68.0%
Mon, 26 Jul

PERSISTENT SYSTEMS has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m9,91411,13412,29910.5%24.1%
Other incomeRs m212400388-3.1%82.8%
TurnoverRs m10,12611,53412,68710.0%25.3%
ExpensesRs m8,4569,25010,28411.2%21.6%
Gross profitRs m1,4581,8832,0157.0%38.2%
DepreciationRs m436419350-16.5%-19.6%
InterestRs m14162342.9%59.7%
Profit before taxRs m1,2201,8492,0319.8%66.4%
TaxRs m3204715189.9%61.7%
Profit after taxRs m9001,3781,5129.8%68.0%
Gross profit margin%14.716.916.4
Effective tax rate%26.225.525.5
Net profit margin%8.911.911.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 24.1% on a year-on-year (YoY) basis. The expenses were up by 21.6% YoY during the same period.
  • The company's operating profit increased by 38.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.4% in 1QFY22 as against 14.7% in 1QFY21.
  • Depreciation charges declined by 19.6% and finance costs increased by 59.7% YoY, respectively.
  • Other income increased by 82.8% YoY during the quarter.
  • Net profit for the quarter increased by 68.0% YoY. Net profit margins during the quarter increased from 8.9% in 1QFY21 to 11.9% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.2% QoQ during the same period.
  • The company's operating profit increased by 7.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.4% in 1QFY22 as against 16.9% in 4QFY21.
  • Net profit for the quarter increased by 9.8% QoQ, while net profit margins declined from 11.9% in 4QFY21 to 11.9% in 1QFY22.

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 773.2 to Rs 3,252.6, registering a Gain of Rs 2,479.5 or around 320.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 30,659.2 (up 0.3%). Over the last one year it has moved up from 17,378.1 to 30,659.2, a gain of 13,281 points (up 76.4%).

Overall, the S&P BSE SENSEX is up 39.6% over the year.

Current Valuations

At the current price of Rs 3,252.6, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 48.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.0 times.