Persistent Systems Q3 Results: Profit surges 30% YoY to ₹373 crore; interim dividend declared

Persistent Systems Q3 Results: Information technology (IT) company Persistent Systems today, January 22, released its December quarter performance, reporting a 30.35% year-on-year (YoY) jump in its consolidated profit after tax (PAT) for the December 2024 quarter (Q3 FY25) to ₹373 crore. In the same quarter of the previous fiscal year, the company reported a net profit of ₹286 crore and ₹306 crore in the preceding September quarter.

Revenue from operations during the reporting quarter rose to ₹3,062 crore, a 22.6% increase compared to ₹2,498 crore in the corresponding quarter last year. Sequentially, revenue also improved by 6%.

The EBIT during the quarter came in at ₹455 crore, reporting a growth of 12.2% on a quarter-on-quarter (QoQ) basis and 25.5% on a YoY basis, while the EBIT margins improved by 400 basis points to 14.9% in Q3FY25 from 14% in Q3FY24.

Its order booking for the quarter ended on December 31, 2024, was at $594.1 million in Total Contract Value (TCV) and at $428.3 million in Annual Contract Value (ACV) terms, as per the company's earnings filing.

The company's board also approved an interim dividend of ₹20 per share of face value of ₹5 each for the financial year 2024-25.

Commenting on the December quarter performance, Sandeep Kalra, Chief Executive Officer and Executive Director, said, “We recorded our 19th sequential quarter of revenue growth, with 4.3% Q-o-Q and 19.9% Y-o-Y increase—highlighting the strength of our AI-led, platform-driven services strategy. We also declared an interim dividend of ₹20 per share."

"This quarter, we achieved several significant milestones, including winning the prestigious 2024 ISG Star of Excellence Overall Award based on the voice of the customer, demonstrating our ability to re (AI) magine their businesses. Reaffirming our commitment to developing innovative solutions based on our own IP, we filed 20+ patents related to SASVA™, our AI-powered software development platform. Additionally, our co-developed ContractAssIst solution, built leveraging Microsoft 365 Copilot, was shortlisted by Microsoft and acknowledged by its CEO, Satya Nadella, during his recent Microsoft AI Tour," Sandeep Kalra added.

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