Motilal Oswal keeps buy call on Persistent Systems at ₹6,700
Business
Motilal Oswal is still upbeat about Persistent Systems, sticking to its buy call with a target price of ₹6,700.
The company just posted solid Q2 FY27 results: revenue hit $488 million, topping estimates and growing 7.8% from last quarter.
Persistent Systems EBIT grew, margin 15%
While the EBIT margin came in a bit lower than expected at 15%, actual EBIT grew both quarterly and year over year.
Adjusted PAT was ₹4.9 billion, not quite hitting forecasts but still up compared to last year.
Even though the total contract value dropped sharply from last quarter, it's up year over year, and Motilal Oswal remains bullish on Persistent Systems.