Persistent Systems Ltd saw its shares jump by 11.10% on October 23, 2024, closing at ₹5,731.00, up from ₹5,158.20. This surge in stock price led to a market capitalization gain of approximately ₹8,850 crore, bringing the company’s total market cap to ₹89,177.37 crore.
Key Financial Highlights (Q2 FY25):
- Revenue: ₹2,897.15 crore, marking a 5.9% quarter-on-quarter (QoQ) growth from ₹2,737.17 crore in Q1 FY25 and a 19.9% year-on-year (YoY) increase from ₹2,411.67 crore in Q2 FY24.
- Net Profit: ₹324.99 crore, up 6.1% QoQ from ₹306.42 crore and 23.4% YoY from ₹263.27 crore in Q2 FY24.
Persistent Systems’ robust Q2 FY25 performance, surpassing market expectations, has driven investor enthusiasm. The company’s solid revenue growth and profit increase were key drivers behind the stock’s surge, further enhancing its market position in the software and consulting sector.
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