Persistent Systems robust Q3

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⭐ Persistent Systems robust Q3

Persistent Systems reported robust quarterly numbers. Its revenue rose by 45%YoY to ₹2,169 crore in the December quarter, while net profit was at ₹238 crore, a rise of 34% YoY. Following upbeat quarterly results, the company declared an interim dividend of ₹28 per share.      

⭐ India aims for higher coal production 

The government has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of which state-owned Coal India has been given a target to produce 780 MT of coal, followed by 75 MT to Singareni Collieries Company. Coal India accounts for 80% of domestic coal production. 

⭐ Rallis India Q3- a disappointing quarter 

Tata Group company Rallis India has reported a 0.4% YoY rise in revenue to ₹630 crore during the December quarter. Meanwhile, the net profit decreased by over 43% to 23 crore. As per management, the company's business is seasonal in nature and the performance may be impacted by weather conditions and cropping patterns.

Global markets (at 9:00 AM today)

Fact of the day

India’s steel production rises 5.7% in the first nine months of FY23

Source: LiveMint