Shares of Persistent Systems continued to move north in its third session, surging 5% on the BSE to hit a nine-month high of Rs 4,540 in intraday trade on Monday.

Shares of the information technology (IT) company were trading at their highest level since April 11, 2022. It touched a 52-week high of Rs 4,950.35 on April 5.

Persistent Systems has rallied 15% in the last three sessions as the company said it won several large deals across industries and service lines, with a 20% sequential increase in total contract value (TCV) bookings in the October-December quarter (Q3FY23).

The company reported a 6% quarter-on-quarter increase in revenue at Rs 2,169.37 crore in Q3FY23, in line with Wall Street estimates. It was also its 11th consecutive quarter of revenue growth.

Its earnings before interest and taxes (Ebit) rose 11.57% to Rs 333.21 crore, while margins widened to 15.36%. Net profit rose 8.15% QoQ to Rs 237.95 crore in Q3FY23. Board of Directors approves interim dividend of Rs 28 per share.