Persistent - 1QFY2014 Result Preview - Angel Broking

Persistent Systems is slated to announce its 1QFY2014 results today. We expect the company to post revenue of US$63.9mn, up 2.9% qoq. In rupee terms, the revenue is expected to come in at Rs. 364cr, up 9% qoq. EBITDA margin is expected to increase by 125bp qoq to 26.1%, aided by rupee depreciation. PAT is expected to come in at Rs. 51cr. We maintain our Accumulate rating on the stock with a target price of Rs. 595.

Source : Equity Bulls

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