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Persistent Systems Achieves Strong Financial Performance in Q3 FY25

Persistent Systems has published its impressive financial results for the third quarter of FY25, with revenue reaching $360.2 million. This marks a notable 4.3% increase quarter-over-quarter (QoQ) and an impressive 19.9% growth year-over-year (YoY), reinforcing the company’s strength in the highly competitive technology sector.

Financial Highlights

Consolidated Financial Performance for Q3 FY25:

• - Revenue (USD Million): $360.2
• - Revenue (INR Million): ₹30,622.8
• - EBITDA (INR Million): ₹5,378.4, reflecting a 17.6% increase
• - Profit Before Tax (PBT) (INR Million): ₹4,820.4, with a 15.7% increase
• - Profit After Tax (PAT) (INR Million): ₹3,729.9, a 12.2% increase

During this quarter, the Board of Directors declared an interim dividend of ₹20 per share, further underscoring the company's strong financial health and commitment to returning value to shareholders.

Strategic Growth and Innovations

Sandeep Kalra, the CEO of Persistent Systems, emphasized the company’s strategic focus on leveraging AI and platform-driven services. He remarked, “We achieved our 19th consecutive quarter of revenue growth, showcasing the effectiveness of our transformative business strategies.” Persistent has not only secured financial growth but also received significant recognition in the industry for its innovations. For instance, the company was awarded the 2024 ISG Star of Excellence™ Overall Award, reflecting their accomplishments in enhancing customer experiences.

Persistent Systems remains committed to innovation, as demonstrated by the filing of 20+ patents related to their SASVA™ platform, an AI-driven software development tool. Additionally, they launched ContractAssIst, co-developed using Microsoft 365 Copilot, which was highlighted by Microsoft's CEO, Satya Nadella, during his recent tour.

Client Wins and Major Projects

The total contract value (TCV) for the quarter was $594.1 million, with an annual contract value (ACV) of $428.3 million. Noteworthy client engagements during this period included:

• - SASVA™ Implementation for a UK Business Software Provider: Modernizing product development to enhance recurring revenue strategy.
• - AI-led Solutions in Financial Sector: Enhancements in productivity and security for a major North American financial services firm.
• - Healthcare Solutions: Transforming patient care platforms and enhancing operational efficiency for leading health insurance companies.

Recognition and Awards

Persistent Systems has gained significant accolades, reinforcing its leadership in the tech sector. Among its recent achievements:

• - Induction of founder Dr. Anand Deshpande into the Indian National Academy of Engineering.
• - A.R.A. credit rating of AA+ (Stable) from ICRA, underlining the company’s robust financial standing.
• - Inclusion in the Dow Jones Sustainability World Index, highlighting their commitment to sustainable practices in business operations.

Commitment to Sustainability

The company continues to prioritize sustainable development, having achieved carbon neutrality and participating in the United Nations Global Compact. This commitment aligns with their strategy to innovate responsibly and enhance societal impact.

With a remarkable 327% increase in brand value since 2020, Persistent Systems stands out as one of the fastest-growing IT services brands, presenting a bright outlook for the future.

In conclusion, Persistent Systems' performance in Q3 FY25 not only reflects its robust financial health but also showcases its commitment to innovation, sustainability, and customer satisfaction—key drivers that make it a leader in the technology sector.