India's Persistent Systems falls on disappointing Q1 margins

Persistent Systems

19/07/2024 05:30

** Shares of Persistent Systems  PERS.NS  down 5.9% at 4,605
rupees; top loser in IT index  .NIFTYIT , which is up 0.5%
    **  IT services provider reports 30.4% rise in PAT, but EBIT
margins are below some analysts' expectations 
    **  Margin disappoints despite superior growth and growth
continues to be lop sided, Axis Capital analysts says 
    ** Stock up 25% YTD vs 13.5% gains in Nifty IT index
    
    



 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))