BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Persistent Systems Ltd. reported a strong Q1 FY22, with U.S. dollar revenue growth of 9.2% q-o-q (300 basis points above our estimate) and 17% Ebitda margin, despite seasonal visa costs and robust employee additions.
The company’s capability in maintaining its over $200 million total contract run-rate is encouraging and should result in it continuing its industry-leading growth rate in FY22.
With a strong demand commentary and deal momentum, we expect Persistent Systems to continue to deliver top tier IT services revenue growth among our midcap IT coverage (over 18% FY20-23E compound annual growth rate).
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