Latest news with #PersistentSystems
News18
a day ago
- Business
- News18
BUSINESS BRIEFS
Agency: PTI Last Updated: Persistent Systems COO quits Mumbai, Aug 7 (PTI) Mid-tier IT services player Persistent Systems on Thursday said its chief operating officer Dhanashree Bhat has quit to pursue opportunities outside the company. It also announced the elevation of Jaideep Dhok as the COO-Technology from August 12, as per an official statement. * * * * ManipalCigna Health Insurance elevates Joydeep Saha as MD & Chief Executive ManipalCigna Health Insurance on Thursday elevated Joydeep Saha as its managing director and chief executive. The appointment of Saha, who has previously served as the actuary and chief officer, actuarial, product, reinsurance, group underwriting and analytics, has received regulator Irdai's nod, a statement said. * * * * Godrej Enterprises Group on Thursday said it has helped upgrade an anganwadi school in Maharahstra's Raigad district in association with local government and Integrated Child Development Services (ICDS). The school in Tambati, Khalapur is designed to provide a safe, inclusive, and well-equipped environment for children under 6 years and expected to benefit approximately 50 children, 30 pregnant women, more than 50 lactating mothers and about 100 families annually, as per a statement. * * * * Infomerics Valuation and Rating on Thursday announced the appointment of Rohit Inamdar as its chief rating officer from August 1. Inamdar has worked with larger rivals Icra, Care and Crisil earlier, a statement said. PTI AA MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 07, 2025, 22:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
3 days ago
- Business
- Economic Times
Analysts trim estimates on Persistent amid valuation and growth concerns
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: Persistent Systems has lost nearly 8% on bourses after declaring the June quarter numbers on July 23, which were below analysts' company's sequential revenue growth in dollar terms has been decelerating gradually since the past four quarters amid sluggishness in the healthcare vertical . Given the order pipeline, the mid-tier IT exporter expects a recovery in this vertical in the coming quarters. While the company is confident of meeting its FY27 revenue target of $2 billion, some analysts find its current valuation to be steep given the short-term project sequential growth in revenue at $389.7 million slowed down to 3.9% in the June quarter from 5.6% in the year-ago quarter. According to Vinit Teredesai, CFO, the current growth rate reflects organic business momentum given the fact that faster growth in the past was fuelled by addition, the healthcare division, which contributes over one-fourth to revenue, has been reporting slower momentum after growing at a faster rate in the past. Its revenue dropped by 2.2% sequentially in the June quarter to $98.5 million due to a planned transfer of onsite work to offshore and project delays. Teredesai expects a gradual recovery in the vertical over the next two quarters going by the mew deals company has been facing a slower pace of decision-making in recent times but it has so far not undergone any pricing pressure. The company's overall order book grew by 12.5% year-on-year to $520.8 million in the June quarter. It, however, remained flat on a sequential basis, reflecting the cautious approach by clients. The proportion of new deals improved to 64.7% from 63.6% in the previous quarter but was lower than 67.2% in the year-ago in rupee terms rose by 2.8% sequentially to ₹3,333.6 crore while net profit grew by 7.4% to ₹4,24.9 crore. The operating margin (EBIT margin) fell by a tad 10 basis points to 15.5% compared with the quarter ago. The company has deferred salary increase for employees by one quarter, which is likely to support margin in the September quarter. It expects to improve the operating profitability by 100 basis points for FY26 compared with 14.7% margin in FY25. Emkay Global Financial Services has slashed earnings estimates by around 2% for FY26-28. Broking firm has retained a 'reduce' call on stock citing rich valuation. On other hand, Motilal Oswal Financial Services has reiterated a 'buy' call with a target price of ₹6,800 given company's consistent execution and growth visibility. Stock was last traded at ₹5,169 on Tuesday on BSE.
Time of India
3 days ago
- Business
- Time of India
Analysts trim estimates on Persistent amid valuation and growth concerns
ET Intelligence Group: Persistent Systems has lost nearly 8% on bourses after declaring the June quarter numbers on July 23, which were below analysts' expectations. The company's sequential revenue growth in dollar terms has been decelerating gradually since the past four quarters amid sluggishness in the healthcare vertical . Given the order pipeline, the mid-tier IT exporter expects a recovery in this vertical in the coming quarters. While the company is confident of meeting its FY27 revenue target of $2 billion, some analysts find its current valuation to be steep given the short-term project delays. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The sequential growth in revenue at $389.7 million slowed down to 3.9% in the June quarter from 5.6% in the year-ago quarter. According to Vinit Teredesai, CFO, the current growth rate reflects organic business momentum given the fact that faster growth in the past was fuelled by acquisitions. In addition, the healthcare division, which contributes over one-fourth to revenue, has been reporting slower momentum after growing at a faster rate in the past. Its revenue dropped by 2.2% sequentially in the June quarter to $98.5 million due to a planned transfer of onsite work to offshore and project delays. Teredesai expects a gradual recovery in the vertical over the next two quarters going by the mew deals momentum. Agencies The company has been facing a slower pace of decision-making in recent times but it has so far not undergone any pricing pressure. The company's overall order book grew by 12.5% year-on-year to $520.8 million in the June quarter. It, however, remained flat on a sequential basis, reflecting the cautious approach by clients. The proportion of new deals improved to 64.7% from 63.6% in the previous quarter but was lower than 67.2% in the year-ago quarter. Live Events Revenue in rupee terms rose by 2.8% sequentially to ₹3,333.6 crore while net profit grew by 7.4% to ₹4,24.9 crore. The operating margin (EBIT margin) fell by a tad 10 basis points to 15.5% compared with the quarter ago. The company has deferred salary increase for employees by one quarter, which is likely to support margin in the September quarter. It expects to improve the operating profitability by 100 basis points for FY26 compared with 14.7% margin in FY25. Emkay Global Financial Services has slashed earnings estimates by around 2% for FY26-28. Broking firm has retained a 'reduce' call on stock citing rich valuation. On other hand, Motilal Oswal Financial Services has reiterated a 'buy' call with a target price of ₹6,800 given company's consistent execution and growth visibility. Stock was last traded at ₹5,169 on Tuesday on BSE.
Time of India
4 days ago
- Business
- Time of India
Mid-tier IT pips big five in Q1 via strong deal conversions, AI efficiencies
Academy Empower your mind, elevate your skills ETtech Mid-tier IT Indian companies including Coforge Mphasis and Persistent Systems outperformed top tier peers in the first quarter of fiscal year 2026 on strong deal conversions and higher AI efficiency amidst an overall hit from gloomy business (YoY) revenue growth improved in double-digits with an average of around 20% growth for five of them outpacing the five top tier ones that recorded flat to single-digit growth rate averaging 1.5% rise, data from companies' April to June quarter financials Coforge (partially helped by revenue from Cigniti Technologies' acquisition) and Persistent Systems continued to deliver strong revenue growth at 54.5% and 19%, respectively; Mphasis, Hexaware and L&T Technology Services (LTTS) gres 9.2%, 8.6% and 13.6%.In comparison, bellwether Tata Consultancy Services TCS ) and the fourth-largest player Wipro reported a degrowth in total revenues in the June quarter. Smaller rivals Infosys and HCLTech posted relatively higher revenue growth of 4.8% and 5.4%, respectively. Revenues for the fifth largest player Tech Mahindra was nearly flat at 0.4% one common thread of tariff-led cautious client spending impacted the sequential revenue growth of mid-tier players contributing relatively slower growth, with an average of around 2.7% revenue growth. Yet, it was higher as compared to the top five IT firms' 1.2% growth rate.'Overall, the industry is slowing down, and mid tiers are also impacted. Some mid-tiers are performing better than tier-1s primarily because of two reasons. One is vertical specific tailwinds such as BFSI (banking, financial services and insurance) for Persistent and Mphasis, and the travel segment for Coforge,' said Pareekh Jain, founder and chief executive of India-based IT research firm EIIR second factor that helped mid-tiers was strong deal wins and the mid-cap firms also drove larger margin efficiencies from a moderate growth in headcount from April to June compared to larger rivals, backed by AI-led productivity going up. They have also projected cautious workforce growth at a time when industry leader TCS announced cutting over 12,000 jobs. KPIT Technologies CEO Kishor Patil, in an earnings call, said the company did not refill the attrition with the same rigour as earlier due to flat growth in the last two quarters. 'Productivity is also going up, which is also why there is softness on the employee side.'The pyramid has now become wider, and with the advent of AI, there is a need for a 'more competent workforce'. KPIT believes there is no point in hiring when the growth is flat, Patil to Gaurav Parab, principal research analyst at UK-based research and analysis firm NelsonHall, mid-tier firms have done well recently, but the bigger shift is that AI-driven development is changing the rules.'The size of a provider and its ability to field massive teams will matter less over time. Companies like Coforge, with strong fundamentals, are in a good position as they aren't tethered to large workforces of tier-1 firms and can reshape and scale their teams more efficiently backed by AI capabilities as the market stabilizes,' Parab better outlook commentary than their larger peers, Jain still believes that the mid-cap firms are less disturbed about macro headwinds given their robust order bookings and better order to revenue which saw higher growth partly due to its revenue from acquisition, also won a $1.6 billion sized deal in the March quarter and has a path to signing 20 large deals, with five won in whose deal pipeline grew 2.2x, witnessed its highest-ever quarterly TCV win of $760 million, of which 68% is AI-led and the company stated it will grow two times the industry growth rate. Most mid-tier companies are also making larger deal size bookings.'Large-cap IT services companies largely maintained FY26 revenue growth guidance with Infosys and HCLTech raising the lower end of guidance, whereas Coforge and Persistent reiterated their strong growth commentary driven by superior execution and deal-wins. The divergence in guidance clearly reflects the higher correlation that larger IT Services companies have, with the overall macro environment,' a report by Nuvama (formerly Edelweiss) Institutional Equities a Kotak Securities report cautioned 'competitive intensity has risen across the sector, especially during a phase of industry-wide growth slowdown, which is a concern.'
Business Standard
26-07-2025
- Business
- Business Standard
Persistent Systems consolidated net profit rises 38.68% in the June 2025 quarter
Sales rise 21.79% to Rs 3333.59 croreNet profit of Persistent Systems rose 38.68% to Rs 424.94 crore in the quarter ended June 2025 as against Rs 306.42 crore during the previous quarter ended June 2024. Sales rose 21.79% to Rs 3333.59 crore in the quarter ended June 2025 as against Rs 2737.17 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 22 OPM %18.3516.63 -PBDT649.19471.74 38 PBT555.41400.54 39 NP424.94306.42 39 Powered by Capital Market - Live News
