You are here: Home » Companies » Results
Business Standard

Persistent Systems net profit rises 45.9% at Rs 176.4 crore in Q3

The company also announced the appointment of Avani Davda to Persistent's Board of Directors and continued to add executives to its leadership team

Topics
Persistent Systems | Q3 results | IT services

BS Reporter  |  Mumbai 

Persistent Systems

Mid-cap IT product and services player reported net profit of Rs 176.4 crore for the third quarter of FY22, up 45.9 per cent year-on-year and 9.1 per cent sequentially.

Revenue at Rs 1,491.7 crore grew 38.7 per cent year-on-year and was up 10.4 per cent sequentially. Margins for the quarter came in at 16.8 per cent.

“This sustained momentum is a result of our strong capabilities in designing and engineering new digital experiences, revenue streams, and business models for our clients. As we progress on our growth journey, we will continue to enable our clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers,” said Sandeep Kalra, CEO and executive director, .

The order booking for the quarter ended on December 31, 2021 was at $334.3M in Total Contract Value (TCV) and at $291.3M in Annual Contract Value (ACV).

The Board of Directors declared an Interim Dividend of Rs 20 per share on the face value of Rs 10 each for the Financial Year 2021-2022.

The company also announced the appointment of Avani Davda to Persistent’s Board of Directors and continued to add executives to its leadership team. Persistent also onboarded the first member to the Persistent Advisor Network, Werner Boeing, former Roche Diagnostics CIO.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 20 2022. 23:14 IST
RECOMMENDED FOR YOU
.