Persistent Systems shares were trading 3% above on 19 October, a day after the company announced its quarterly report for the July-September quarter.

The information technology company posted a 19.7% YoY increase in its net profit at Rs 263.27 crore for the quarter under review against Rs 220 crore posted in the year-ago quarter.

The IT major’s consolidated revenue saw a 17.7% year-on-year (YoY) growth to Rs 2,411.7 crore from Rs 2,048.6 crore reported in the same quarter during the previous fiscal year.

The company’s EBITDA grew by 10.1% YoY to Rs 405.16 crore, whereas against the previous quarter, the EBITDA is down by 4.2%.

In its regulatory filing, the company said, “The order booking for the quarter ended on 30 September, 2023, was at $479.3 million in total contract value (TCV) and at $315.9 million in annual contract value (ACV) terms.”

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems, said, “Our proactive approach and ability to adapt has enabled us to thrive in this uncertain macroeconomic environment leading to our highest-ever TCV with more than $475 million in bookings in Q2FY24.”

He added that he is proud to announce that the company has won the Golden Peacock Award for Excellence in Corporate Governance for 2023.

At 11:50 am, Persistent Systems shares were trading 3.42% above at Rs 5,911.25 on NSE.