Page 16 - Persistent Systems News Today

Indian IT services company Coforge reported a 4.3% increase in third-quarter profit, aided by deal wins in a challenging macroeconomic environment, and reiterated its revenue growth forecast for...

Over the next three years, the company is also targeting to expand its operating profit margin by about 3 percentage points above the levels of about 14.5-15 per cent it aims to exit FY23, its chief financial officer Sunil Sapre said.

Economic uncertainty increases need to use high-quality data for better insights, decision-making and enterprise value, ISG Provider Lens™ report says ...

Persistent Systems: However, the company, which reported a total contract value of USD 521 million in December, said the conversion of deal wins to revenues is not happening, as it was earlier because of the weaker sentiments.

Persistent Systems Q3 earnings: Brokerage Dolat Capital said the IT major is likely to report a 17% rise in Q3 profit at Rs 278.2 crore on a 14.8 increase in revenue to Rs 2490.7 crore.

Tech shares helped power the S&P 500 to its first record high close in two years on Friday to confirm a bull market, while European stocks registered weekly declines amid fading expectations for central bank interest rate cuts.

Q3 results today: 40 companies announcing their quarterly earnings. ICICI Bank and Kotak Mahindra Bank are among the most tracked after results. Other important results include IDBI Bank, IDFC First Bank, IREDA, J&K Bank, JK Cement, Persistent Systems, and Union Bank.

The board of directors declared an interim dividend of Rs 32 per share on the face value of Rs 10 each for the financial year 2023-2024, the company informed the bourses. It has also recommended to split the face value of shares from Rs 10 to Rs 5 per share

The existing one equity share having a face value of Rs 10 each, will be split into two equity shares having a face value of Rs 5 each, the company said in an exchange filing. This is the first time the company will be splitting the shares since it got listed. Further, the board has also recommended an interim dividend payout of Rs 32 a share for the current financial year.

ICICI Bank Ltd.'s third-quarter net profit grew 24% on higher other income and lower provisions, meeting estimates. The private sector lender posted a profit of Rs 10,271 crore for the October–December period, compared with Rs 8,312 crore in the year-ago period.