Persistent Systems Q1 net profit up 5.29% at Rs 174.88 cr
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The company reported standalone net profit of Rs 174.88 crore for the quarter ended June 30, 2022 as compared to Rs 166.10 crore in the same period last year, registering a year-on-year growth of 5.29 per cent. Net revenue of the company rose substantially by 44.09 per cent at Rs 1,102.08 crore in April-June quarter of this fiscal as against Rs 764.83 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 54.29 per cent to Rs 864.32 crore from Rs 560.19 crore in year ago period. Other Income dipped by 31.01 per cent at Rs 23.78 crore versus (Jun'21 Rs 34.47 crore).
Operating Profit surged by 16.18 per cent to Rs 237.76 crore as against Rs 204.64 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 19.39 per cent in June quarter. Interest grew by 7.57 per cent y-o-y to Rs 1.99 crore, while Taxation increased by 2.42 per cent at Rs 56.22 crore (Jun'21 Rs 54.89 crore).
