Persistent Systems declares ₹22 per share dividend: Check record date here

“The board has recommended a final dividend of Rs 12 (Rupees Twelve only) per equity share and a special dividend of Rs 10 (Rupees Ten only) per equity share of Rs 10 each for the financial year 2022-23. A special dividend is being recommended for achieving $1 billion in annual revenue and will be paid in conjunction with the final dividend. This aggregate dividend of Rs.22 (Rupees twenty two only) per equity share is subject to the approval of the members in the ensuing Annual General Meeting to be held on or before September 30, 2023. The said dividend for book closure financial year 2022-23 for the purpose of payment will be determined later,” said Persistent Systems in a stock exchange filing.

“In January 2023, the Board declared an interim dividend of Rs. 28 making total dividends per share 50 per share. The final dividend recommended by the Board is subject to the approval of the members during the ensuing Annual General Meeting,” Persistent Systems said in a stock exchange filing.

During Q4FY23, the company registered a revenue of Rs 2254.47 Cr with a growth of 4% QoQ and 38% YoY, while during FY23 it recorded a revenue of Rs. 8350.59 Cr, up 47% YoY from 5710.74 crore in FY22. Persistent Systems said its EBITDA during the fourth quarter of FY23 reached Rs 416.31 crore, up 4% QoQ and 49% YoY, while its EBITDA during FY23 grew 59% YoY 1519.12 crores. 958.17 crore in FY22. The company recorded a net profit of 251.51 crore during the quarter ended March 2023, up 6% QoQ and 25% YoY while it reported a net profit in FY23 921.09 Cr, up 34% YoY from 690.38 crore was recorded in the financial year ending 2022.

“Our team’s passion for innovation, tireless dedication to customer success, and agility in the changing economic environment have enabled us to capture this important moment in Persistent’s history. I am incredibly grateful to our committed team, diverse customer base and the entire ecosystem that built Persistent from a small, Pune-based product engineering service provider to a multinational enterprise modernization and digital engineering powerhouse,” said Anand Deshpande, Said Founder, Chairman and Managing Director, Standing.

“FY 2023 was important for Sustant as we achieved several important milestones, including achieving $1 billion in annual revenue and breaking into three major indices of the National Stock Exchange of India, including the Nifty IT index. We have been agile, proactive and disciplined, which has allowed us to build a healthy booking pipeline and maintain a competitive advantage. We are truly grateful for the unwavering trust of our customers, partners, investors and team members. As we move toward the next phase of growth, we will continue to strengthen our partner ecosystem, maintain operational rigor, and leverage our capabilities to enhance our digital engineering expertise and drive business value for our customers. Will deepen,” said Sandeep Kalra, Chief Executive Officer and Executive Director, Permanent.

Persistent Systems said its order booking for the quarter ended March 31, 2023 was $421.6 million in total contract value (TCV) and $310.4 million in annualized contract value (ACV) terms.

Shares of Persistent Systems closed today on NSE 4,462.85 each level, up 0.46% from the previous close 4,442.30.