Mid-tier IT company Persistent Systems Ltd on Wednesday, January 18, reported a 34.9 percent year-on-year (YoY) jump in net profit at Rs 237.9 crore for the third quarter that ended December 31, 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 176.4 crore. CNBC-TV18 Polls had predicted a profit of Rs 245 crore for the quarter under review.

The company said the board of directors has declared an interim dividend of Rs 28 per share on the face value of Rs 10 each for the financial year 2022-2023.

Also Read: OYO to refile draft IPO papers with updates to Sebi by mid-February

The order booking for the quarter that ended on December 31, 2022, was at $440.2 million in total contract value (TCV) and at $326.3 million in annual contract value (ACV) terms, the company said.

Sandeep Kalra, Chief Executive Officer and Executive Director said the company won several large deals across industries and service lines, driving 20 percent sequential growth in total contract value (TCV) bookings.

The shares of the company rose over seven percent on Thursday. The stock was trading 7.2 percent higher at the last count.

First Published:Jan 18, 2023 6:04 PM IST