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

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.