Persistent Systems Q4 results: Profit rises 25% to ₹396 cr on strong growth

Speaking to PTI, CFO added that the company is maintaining its aspiration of getting USD 2 billion in revenues by FY26, as against USD 1.4 billion in FY25 despite the ongoing uncertainties

Mid-tier IT company Persistent Systems on Thursday posted a 25 per cent jump in March quarter profit to Rs 395.76 crore.

The Pune-headquartered company reported a net profit of Rs 315.32 crore in the year-ago period.

Its revenues grew 25.2 per cent to Rs 3,242 crore from Rs 2,591 crore in the year-ago period, while operating profit margin expanded to 15.6 per cent from 14.5 per cent in the year-ago period.

Its Chief Financial Officer Vinit Teredesai said the margins will further expand up to 2 percentage points in FY26.

Speaking to PTI, he also added that the company is maintaining its aspiration of getting USD 2 billion in revenues by FY26, as against USD 1.4 billion in FY25 despite the ongoing uncertainties.

 

He said it is very difficult to predict the exact outcome for the company from the shift in trade policies, and added that deal signings have become sluggish as customers adopt a cautious stance.

The company's new deal signings declined to USD 517.5 million in the reporting quarter, down from USD 594 million.

Teredesai said the deal pipeline continues to be strong, even as clients are in a wait-and-watch mode.

On its fresher hiring target for the new fiscal year, the CFO declined to give any number and pointed out that the company has a bias towards hiring experienced staff, given the kind of work it undertakes.

He said the labour supply situation in the market has become conducive, which allows it to hire talent as required.

The company added 700 employees to take its overall strength to 24,594, and Teredesai said it will continue to keep the utilisation at an elevated 88 per cent levels going forward.

The Persistent scrip was trading marginally down at Rs 5,139.5 on the BSE, down 0.45 per cent from its previous close.