Dolat Capital's research report on Persistent Systems
PSYS reported revenue growth of 5.4% YoY in FY18; software services revenue (contri. 74%) grew by 8.9% YoY in FY18 to ` 22.6bn compared to ` 20.7bn in the previous year, while IP led revenue which contributes 26% of the total revenue declined 3.6% YoY to ` 7,766mn compared to ` 8,060mn in FY17. Increase in earnings by 7% YoY to ` 40.4 during the year was on account of higher other income despite lower EBIT margins.
Outlook
We maintain our BUY rating with TP of ` 1,200 based on 15.5x one yr. fwd. PER.
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Read More First Published on Jul 13, 2018 05:18 pm
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