Persistent Systems rallies after Q2 PAT rises 6% QoQ to Rs 325 cr

Persistent Systems jumped 6.66% to Rs 5,500 after the company's consolidated net profit jumped 6.06 to Rs 324.99 crore on 5.84% increase in revenue from operations to Rs 2,897.15 crore in Q2 FY25 over Q1 FY25.

On year on year (YoY) basis, the companys net profit and revenue jumped 23.4% and 20.1% in Q2 FY25.

Profit before tax (PBT) jumped 8.48% YoY to Rs 434.52 crore during the quarter.

EBITDA stood at Rs 480.73 crore, registering the growth of 18.7% YoY. EBITDA margin stood at 16.6%

In dollar terms, the IT firms revenue stood at $345 million in Q2 FY25, up 5.3(QoQ) and up (18.4% YoY).

The order booking for the quarter ended on September 30, 2024, was at $529.0 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms.

Sandeep Kalra, chief executive officer and executive director, Persistent Systems, said, 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.

Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization. The company works with the industry leaders including 14 of the 30 most innovative companies as identified by BCG, 8 of the top 10 largest banks in the US and India, and numerous innovators across the healthcare and software ecosystems.

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