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.
Dolat Capital Report
Persistent Systems Ltd. reported stellar Q2 results with 9.3% QoQ growth (our estimate: 8%) led by broad-based growth across verticals (banking financial services and insurance/communication/healthcare – 8.9%/7.9%/13.0% QoQ).
Operating profit margin improved by 30 basis points QoQ to 13.8% (our estimate: 13.1%) driven by increased offshoring leverage.
Persistent Systems' total contract stood at $283 million with new deals TCV at $149 million.
Trailing twelve months TCV is now at $1.1 billion and new TCV is $610 million. The annual contract on trailing twelve months basis stood at $847 million and implies a revenue coverage of about 1.3 times, suggesting potential for sustained momentum.
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