Generative AI to show reasonable revenue impact: Persistent Systems CEO

Despite microeconomic challenges, the company is comfortable with the growth, Sandeep Kalra, CEO and Executive Director, of Persistent Systems said in an interview

IT services firm Persistent Systems reported a soft quarter with a net profit of Rs  228.7 crore, growing 8.1 per cent year-on-year (YoY) and a sequential fall of 9 per cent.

Despite microeconomic challenges, the company is comfortable with the growth, Sandeep Kalra, chief executive officer (CEO) and executive director, Persistent Systems, said in an interview with Sourabh Lele. Edited excerpts:

How would you summarize the Q1FY24 results?

We delivered 3 per cent revenue growth on a sequential basis in dollar terms and 17.1 per cent on a YoY basis.

In rupee terms, it's 3 per cent quarter-on-quarter (QoQ) and