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4 min read | Updated on October 23, 2024, 12:33 IST
SUMMARY
Shares of Persistent Systems jumped nearly 12% to hit an all-time high of ₹5,766.30 apiece on the BSE after the company on Tuesday posted strong numbers for the quarter ended September 30, 2024. The IT services firm reported a 23.44% increase in consolidated net profit to ₹324.9 crore in the September 2024 quarter.
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At 12:19 pm, the S&P BSE SENSEX was trading at 80,410.06 levels, up 189 points, or 0.24%
At 12:19 pm, the S&P BSE SENSEX was trading at 80,410.06 levels, up 189 points, or 0.24% while the NSE NIFTY50 index was trading at 24,525.65 points, up 53.55 points, or 0.22%.
The IT services firm reported a 23.44% increase in consolidated net profit to ₹324.9 crore in the September 2024 quarter.
Revenue from operations for the quarter under review was Rs 2,897.1 crore, up 20.13% from ₹2,411.6 crore in the quarter-ended September FY24.
During the quarter, the order booking was USD 529 million (around ₹4,447 crore) in Total Contract Value (TCV) terms.
The Pune-headquartered firm has a global headcount of more than 23,200 employees, with 19,899 staff in India.
NPCI has granted approval to Paytm to onboard new UPI users, subject to adherence to all procedural guidelines and circulars, according to the company.
The stock surged up to 6% to hit an intraday high of ₹1,928.90 apiece on the NSE. It later pared some gains and was trading at ₹1,873.9, up 2.9% at 11:22 am.
The company's market capitalisation stood at ₹1,52,270.20 crore.
The company reported a 388.8% increase in its consolidated net profit to ₹176 crore in the second quarter ended on September 30, 2024. In the year-ago period, the net profit was ₹36 crore. Experts had expected a net profit of around ₹260 crore.
Revenue from operations jumped 81.73% year-on-year (YoY) to ₹1,684.70 crore in the quarter ended 30 September 2024.
The company reported a 13% increase in consolidated net profit at ₹4,014 crore for the second quarter ended September 30, 2024.
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