IT firm Persistent Systems clocks Rs 2,737 cr revenue in Q1 FY25, PAT down QoQ

Pune: Digital engineering and enterprise modernisation company Persistent Systems on Friday reported 16 per cent growth in revenue at about Rs 2,737 crore ($328.2 million) for the first quarter of FY25.

According to the company's audited financial results, it clocked profit after tax (PAT) at Rs 306.4 crore, up 33.9 per cent year-on-year (YoY) but down 2.8 per cent on quarter-on-quarter (QOQ).

The company announced a final dividend payment of Rs 10 per share.

"We have pivoted to an AI-led, platform-driven services approach, deepening our hyperscaler partnerships and developing a suite of innovative solutions," said Sandeep Kalra, CEO and Executive Director.

The company announced that Roshini Bakshi has retired as an Independent Director from the Board after a decade.

"We are delighted to welcome Anjali Joshi as an Independent Director. Her vast expertise as a technology leader will enrich our Board and guide us on our growth journey," said Kalra.

The order booking for the quarter was at $462.8 million in total contract value (TCV) and at $337.3 million in annual contract value (ACV) terms.

Last month, the IT company acquired New Jersey-based Starfish Associates for an undisclosed sum. Known for its enterprise communications automation platform, Starfish Associates caters to the world's largest enterprises including many Fortune 500 companies.