Persistent up 5.5%

Persistent Systems posted a good set of earnings for Q4FY22. Its revenue rose 10% (QoQ) at Rs.1638 crore while EBITDA went up 12% at Rs.281 crore.

PBT came in at Rs.267 crore, up 13% while PAT was up 14% at Rs.201 crore.

The company reported a sequential dollar revenue growth of 9%  while growth came in mainly through its services vertical, while the IP segment showed a YoY degrowth in revenue.

Ebit margin at 14.1% was just marginally higher from 14% in Q3.

The Board of Directors recommended final dividend of Rs.11 per share on the face value of Rs.10 each. In January 2022, the Board declared an interim dividend of Rs.20 per share making the total dividend Rs.31 per share.

Following these earnings, the stock opened 4.5% higher at Rs.4268 and went on to hit an intraday high at Rs.4296.