Revenue for the three-month period increased 20.1% to Rs 2,897.15 crore from Rs 2,411.6 crore in the same quarter a year ago.
Sequentially, the July to September quarter profit grew 6.1% from Rs 306.41 crore, while revenue rose 5.8% from Rs 2,737.17 crore in the June quarter.
In dollar terms, revenue was up 18.4% YoY and 5.3% quarter-on-quarter (QoQ) to $345.5 million. The company said it reported an 18th sequential quarter of revenue growth.
“We are proud to announce the 18th sequential quarter of revenue growth… This quarter, we continued to strengthen our capabilities and advance our AI-led, platform driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernization; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity,” said Sandeep Kalra, chief executive officer and executive director of the company.
In Q1, the IT company had acquired New Jersey-based Starfish Associates for $20.7 million (about Rs 173 crore).
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Persistent Systems’ core business – software, hi-tech and emerging industries – degrew by 0.5% after a growth of at least seven quarters while banking, financial services and insurance sector grew by 15.3% and healthcare & life sciences rose 71.2%, boosting its overall revenue.The deal momentum picked up in the quarter with $529 million total contract value (TCV), up from $462.5 million in the previous quarter.
After shrinking in the previous quarter, operating margin remained flat in Q2Fy25 from previous quarter at 14.0% and edged up from 13.7% in Q2FY24.
Bucking the industry trend of employee addition by top tier firms, Persistent Systems’ total employees declined during the quarter by 282 to 23,237 as on September end.
Ahead of the results announcement on Tuesday, Persistent Systems’ shares closed 1.75% weaker at Rs 5,156.40 apiece on the BSE. The result was declared after market hours.
