Persistent Systems hits 52-week low despite firm Sept quarter numbers

Shares of Persistent Systems touched 52-week low of Rs 558.90, fall 15 percent intraday Monday  despite firm September quarter numbers declared by the company on October 21

The company has reported a 7 percent rise in its consolidated net profit to Rs 88.14 crore for the second quarter ended September 2018. The company had registered a net profit of Rs 82.62 crore in the July-September period of 2017-18.

Total income of the company increased to Rs 858.78 crore in the September quarter of 2018-19 as against Rs 794.89 crore in the year-ago period, it said in a regulatory filing.

Segment-wise, revenue from Technology services were up 11 percent and that of Alliance was up 18.5 percent. Its revenue from Accelerite (products) during the quarter fell by 27 percent.