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Persistent’s fourth quarter numbers were a mixed bag. While revenue growth met the analysts’ expectations, the margin performance was below estimates. Revenue grew by 3.4% sequentially to $ 310.9 million for the quarter.
Persistent Systems Q4 Results Live : Revenue increased by 14.91% YoY & profit increased by 25.37% YoY
Brokerage Nomura upheld a neutral rating on Persistent Systems, while Investec continues to advocate a buy stance on Natco Pharma and has initiated a buy recommendation on Entero Healthcare. Conversely, CLSA has downgraded RIL to an outperform rating.
Persistent Systems CEO Sandeep Kalra discusses the company's growth strategy amidst challenging market conditions, focusing on leveraging investments in generative AI and sales/marketing to achieve margin growth goals in the upcoming years. Kalra says: "We want to grow in line with what we have done in the past from an outperformance perspective and that is what we are looking at. "
Emkay Global Financial recommended reduce rating on Persistent Systems with a target price of Rs 3700 in its research report dated April 22, 2024.