October 23, 2024
New Delhi, India
Q2 Results
Persistent Systems Ltd reported strong financial results for the second quarter ending September 30, 2024. The mid-tier IT company posted a 23.4% year-on-year (YoY) increase in net profit, reaching ₹325 crore, compared to ₹263 crore in the same period last year. Revenue from operations surged by 20.1%, totaling ₹2,897 crore against ₹2,412 crore in the year-ago quarter.
Key Financial Highlights
- Net Profit: ₹325 crore (up 23.4% YoY)
- Revenue: ₹2,897 crore (up 20.1% YoY)
- EBIT: ₹406.2 crore (up 5.8% QoQ)
- EBIT Margin: Flat at 14% compared to the previous quarter
- Dollar Revenue: $345.5 million (up 5.3% QoQ)
- Constant Currency Growth: 5.1% QoQ
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Order Book and Future Outlook
Persistent Systems’ order booking for Q2 stood at $529 million in total contract value (TCV) and $348.3 million in annual contract value (ACV). CEO Sandeep Kalra expressed pride in the company’s 18th consecutive quarter of revenue growth, emphasizing advancements in AI-led, platform-driven services and expansions in digital governance.
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Latest Q2 Results
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