Despite this quarterly growth, the company experienced a significant decline in annual profit, dropping to Rs 49 million in the fiscal year ending 31 March 2024, from Rs 674 million the previous year
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Despite reporting a 25.36 per cent increase in net profit at Rs 315.3 crore and a 14.9 per cent rise in consolidated revenue to Rs 2,590 crore year-on-year, investor sentiment was dampened due to concerns over future profit margins and contract volumes
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The Board of Directors at Persistent Systems recommended a final dividend of Rs 10 per share on the face value of Rs 5 per share for the financial year 2023-24
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