Several IT companies have reported their Q2 FY25 results, showing strong growth in both revenue and profitability. Here’s a breakdown of the key results from Persistent Systems and Coforge, making them notable stocks to watch today:
- Persistent Systems: Persistent Systems delivered a solid performance in Q2 FY25, with steady growth in both revenue and net profit.
- Revenue: The company reported revenue of ₹2,897.15 crore, reflecting a 5.9% quarter-on-quarter (QoQ) increase from ₹2,737.17 crore in Q1 FY25. Year-on-year (YoY), the revenue grew by 19.9%, up from ₹2,411.67 crore in Q2 FY24.
- Net Profit: Persistent’s net profit for Q2 FY25 stood at ₹324.99 crore, up 6.1% QoQ from ₹306.42 crore in the previous quarter. Year-on-year, the net profit increased by 23.4%, compared to ₹263.27 crore in Q2 FY24.
Persistent Systems continues to show a strong growth trajectory, maintaining consistent improvements in both revenue and profitability.
- Coforge Limited: Coforge reported a strong Q2 FY25 performance, driven by significant growth across key financial metrics.
- Revenue: The company posted revenue of ₹3,062.3 crore (INR 30,623 million), representing an impressive 27.5% QoQ increase and 34.5% YoY growth in INR terms. In constant currency (CC) terms, revenue was up 26.3% QoQ and 33.0% YoY. In USD terms, Coforge saw 26.8% QoQ and 32.8% YoY growth, reporting revenue of US$369.4 million.
- EBITDA Margin: The company’s EBITDA margin stood at 15.8%, marking an increase of 53 basis points (bps) YoY.
- Net Profit: The Adjusted Profit After Tax (PAT) for the quarter, excluding minority interests, was ₹255.2 crore (INR 2,552 million), up 35.6% YoY.
Additionally, Coforge’s cash flow from operations for the quarter was US$10.9 million, showcasing the company’s robust cash generation capability. The Board of Directors announced an interim dividend of ₹19 per share, with the record date set for October 11, 2024.
