1:2 Stock Split, Rs 32/Share Dividend Approved: IT Stock Declares 20% Jump In Net

Mid cap IT Software sector company Persistent Systems Ltd shares zoomed 0.91% in trade today on January 20 after the company reported a jump of 20.2% in it its net profit to Rs 286.1 crore Year-on-Year (YoY) for the quarter ended December 31 as a result of robust order book in Q3. Persistent Systems declared an interim dividend of Rs 32 per equity share of Rs 10 each for the financial year 2023-24. Persistent Systems also announced stock split in the proportion of 1:2. Persistent Systems shares offered shareholders return of 57% in last 6-months and rose 385% in last 3-years. Check details below:

Persistent Systems Declares Interim Dividend: As per the regulatory filing of the company of the company dated January 20, 2024, "In continuation of the above-referred intimations, we wish to inform you that the Board of Directors at its meeting held on January 20, 2024, has approved payment of an Interim Dividend of INR 32 (INR Thirty-Two only) per Equity Share of INR 10 each for the Financial Year 2023-24." The company fixed January 30, 2024 as the record date.

Persistent Systems Declares 1:2 Stock Split: The BSE filing of Persistent Systems further stated, Board of Directors at its meeting held on January 20, 2024 also approved split/consolidation ratio 1:2 i.e., existing 1 (one) Equity Share having a face value Shares having a face value of INR 5 (INR Five only) each, fully paid-up."

Persistent Systems Q3 Results: The company's net profit soared 8.7% quarter-on-quarter (QoQ). Its consolidated revenue for Q3 declared at Rs 2,498.2 crore, up 15.2% from the corresponding quarter of last year. On sequential basis, Persistent Systems declared a surge of 3.6% in its revenue. Meanwhile, EBIDTA margin or operating margin soared to 17.7% from 13.7% in the previous quarter.

"We are proud to announce the 15th sequential quarter of growth and a significant milestone of our first-ever quarter of $300M+ in revenue and $500M+ in TCV bookings," Persistent Systems' chief executive officer Sandeep Kalra said.

Persistent Systems Stock Performance & Return: Last trading price of Persistent Systems shares on BSE is Rs 7933.20 apiece. The 52-week high price of Persistent Systems shares on BSE is quoted at Rs 7959.55 per share and 52-week low price is quoted at Rs 3959.25 per share, respectively. The company has a market capitalisation of Rs 61,026.14 crore. Persistent Systems shares offered return of 83% in last 1-year, gained 87% in last 2-years, and surged 1338% in last 5-years. The scrip jumped 1475% in last 10-years.

Persistent Systems About: It is a leading Digital Engineering and Enterprise Modernization partner, combining deep technical expertise and industry experience to help its clients. Its offerings, proven solutions and innovative partner ecosystem create unique competitive advantage for its clients. It works with many industry leading organizations across 18 countries - including 14 of the 30 most innovative US companies, 80% of the largest banks in the US and India, and numerous innovators across the healthcare ecosystem. It is recognized across the industry as the market leaders from delivery and customer excellence, as rated by ISG (2020 and 2021 ISG Star of Excellence Awards), according to its official website.