Persistent Systems Reports Strong Financial Results, Receives 'Buy' Rating from MarketsMOJO
Persistent Systems, a leading IT software company, has recently announced its financial results for the quarter ending June 2024. The company has shown a positive performance with a score of 13, which is an improvement from the previous score of 6 in the last 3 months.One of the key factors contributing to this positive performance is the company's strong operating cash flow. With an annual operating cash flow of Rs 1,221.31 crore, Persistent Systems has consistently shown growth in this area over the last three years. This indicates that the company has been able to generate higher cash revenues from its business operations.
In terms of net sales, Persistent Systems has also shown a positive trend. The company's quarterly net sales have reached a record high of Rs 2,737.17 crore and have been growing each quarter for the last five quarters. This indicates a strong and consistent sales performance in the near term.
The company's operating profit (PBDIT) has also seen a positive trend, with a quarterly high of Rs 455.22 crore and growth in each of the last five quarters. This indicates a strong and consistent performance in terms of operating profit in the near term.
Persistent Systems' profit before tax less other income (PBT) has also shown a positive trend, with a quarterly high of Rs 369.90 crore and growth in each of the last five quarters. This indicates a strong and consistent performance in terms of PBT in the near term.
In terms of profit after tax (PAT), Persistent Systems has shown a growth of 29.45% year on year, with a half-yearly PAT of Rs 621.74 crore. This indicates a positive trend in the company's profitability in the near term.
Based on these strong financial results, MarketsMOJO has given a 'Buy' call for Persistent Systems' stock. With a positive trend in key financial indicators, Persistent Systems is showing promising growth potential in the IT software industry. Investors can consider adding this largecap company to their portfolio for potential long-term gains.
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