Persistent Systems Reports Impressive Q3 FY25 Growth Boosted by AI Innovations
Persistent Systems Shows Strong Results for Q3 FY25
On January 22, 2025, Persistent Systems (BSE: 533179, NSE: PERSISTENT) released its audited financial results for the quarter ending December 31, 2024. The company reported a remarkable revenue of $360.2 million, showing a 4.3% increase from the previous quarter and an impressive 19.9% growth year-over-year. With these results, Persistent Systems has registered its 19th consecutive quarter of revenue growth, showcasing the effectiveness of its AI-driven service strategies.
Key Financial Highlights
| Metrics | Q3 FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|
| --- | - | - | --- |
| Revenue (USD Million) | 360.2 | 4.3 | 19.9 |
| Revenue (INR Million) | 30,622.8 | 5.7 | 22.6 |
| EBITDA (INR Million) | 5,378.4 | 17.6 | 11.9 |
| PBT (INR Million) | 4,820.4 | 15.7 | 10.9 |
| PAT (INR Million) | 3,729.9 | 12.2 | 14.8 |
In addition, the board declared an interim dividend of ₹20 per share, emphasizing its sound financial position and commitment to returning value to shareholders.
Achievements and Recognition
CEO Sandeep Kalra emphasized the latest quarter’s achievements, which include receiving the prestigious 2024 ISG Star of Excellence™ Overall Award. This recognition highlights the company's focus on client satisfaction and the effective transformation of business processes through AI. Throughout the quarter, Persistent also filed over 20 patents associated with its proprietary AI solutions like SASVA™, further solidifying its role as an innovator in the tech industry.
The company expanded its reputation, receiving an AA+ (Stable) credit rating from ICRA, emphasizing its strong financial groundwork and reliable leadership. Additionally, it secured a place in the Dow Jones Sustainability World Index, highlighting its dedication to sustainable business practices.
Client Wins and Initiatives
During Q3 FY25, Persistent Systems secured significant contracts, increasing its Total Contract Value (TCV) to $594.1 million. Key client engagements included:
- - Software and Hi-Tech: Collaborating with a leading UK business software provider to modernize product development and enhance revenue generation.
- - Banking and Financial: Implementing SASVA™ to upgrade legacy systems for a US-based financial services firm.
- - Healthcare: Transforming healthcare platforms to improve patient care experiences for a major health insurance provider.
The quarter also saw the launch of ContractAssIst, leveraging Microsoft 365 Copilot for streamlining contract management, showcasing Persistent’s commitment to integrating AI across its product offerings.
Awards and Recognition Continues
The company’s founder, Dr. Anand Deshpande, was named a Fellow of the Indian National Academy of Engineering, while Persistent itself was highlighted as a leader in the 2024 ISG Provider Lens™ Generative AI Services. The firm also received accolades for its corporate governance and workplace culture, affirming its status as a well-respected entity in the tech landscape.
Conclusion
With robust financial growth and innovative advancements, Persistent Systems is on a path of sustained success. Their strategic focus on AI and digital engineering continues to set them apart in a competitive marketplace, paving the way for future opportunities and successes.
Topics Business Technology）
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