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Economic Times
06-05-2025
- Business
- Economic Times
High utilisation, new deal momentum to keep Persistent Systems on track
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: The stock of Persistent Systems has gained 25% over the past four weeks amid the company's resilient performance in the March quarter. Since the mid-tier software exporter has a strong products and platforms business, its exposure to discretionary client spending is limited. This augurs well at a time when clients are delaying transformational projects. The management hinted at keeping the utilisation rate high as there is no pressure to hire, which should support margins in the coming company's CFO Vinit Teredesai told ET that while clients were taking more time to roll out projects, there were so far no cancellations. "Going by the current revenue visibility, we continue to retain an aspiration to attend $2 billion in revenue by FY27," he the challenging environment, the total contract value (TCV) of the company's deal bookings including renewals and new deals increased to $2,103.4 million in FY25 compared with $1,828.7 million in the previous year. For the March 2025 quarter, the TCV moderated to $517.5 million from $594.1 million in the prior quarter where the number was boosted by renewal company has been showing a higher traction in the deals above $5 million of TCV. The number of clients in this revenue basket increased sharply to 55 at the end of March 2025 from 40 a year ago and 34 two years ago. It has more than doubled when compared with 25 at the end of software and hi-tech vertical, the largest revenue segment for the company with around 41% share in total revenue, continued to show improvement in the March quarter with 5.2% sequential growth following 3.8% growth in the previous quarter. Its growth had remained below 1% in the prior four quarters. The banking and finance vertical, which contributed nearly one-third to the revenue, continued to post above 5% growth for the fourth consecutive quarter. The healthcare vertical with 27% contribution to the revenue showed signs of consolidation. Its revenue grew by a tad 0.7% sequentially after growing at a faster rate in the previous four company's total revenue grew by 5.9% sequentially to ₹3,242 crore while net profit rose by 6.1% to ₹396 crore in the March quarter. The operating margin (EBIT margin) expanded by 70 basis points to 15.6%. Teredesai expects to keep margins buoyant, helped by higher employee utilisation and cost Monday's closing price of ₹5,530.4 on the BSE, the stock was traded at a trailing price-earnings (P/E) multiple of 62 compared with the three-year average multiple of 50. The premium reflects the faster growth trajectory of the company compared with the large peers.
Time of India
06-05-2025
- Business
- Time of India
High utilisation, new deal momentum to keep Persistent Systems on track
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: The stock of Persistent Systems has gained 25% over the past four weeks amid the company's resilient performance in the March quarter. Since the mid-tier software exporter has a strong products and platforms business, its exposure to discretionary client spending is limited. This augurs well at a time when clients are delaying transformational projects. The management hinted at keeping the utilisation rate high as there is no pressure to hire, which should support margins in the coming company's CFO Vinit Teredesai told ET that while clients were taking more time to roll out projects, there were so far no cancellations. "Going by the current revenue visibility, we continue to retain an aspiration to attend $2 billion in revenue by FY27," he the challenging environment, the total contract value (TCV) of the company's deal bookings including renewals and new deals increased to $2,103.4 million in FY25 compared with $1,828.7 million in the previous year. For the March 2025 quarter, the TCV moderated to $517.5 million from $594.1 million in the prior quarter where the number was boosted by renewal company has been showing a higher traction in the deals above $5 million of TCV. The number of clients in this revenue basket increased sharply to 55 at the end of March 2025 from 40 a year ago and 34 two years ago. It has more than doubled when compared with 25 at the end of software and hi-tech vertical, the largest revenue segment for the company with around 41% share in total revenue, continued to show improvement in the March quarter with 5.2% sequential growth following 3.8% growth in the previous quarter. Its growth had remained below 1% in the prior four quarters. The banking and finance vertical, which contributed nearly one-third to the revenue, continued to post above 5% growth for the fourth consecutive quarter. The healthcare vertical with 27% contribution to the revenue showed signs of consolidation. Its revenue grew by a tad 0.7% sequentially after growing at a faster rate in the previous four company's total revenue grew by 5.9% sequentially to ₹3,242 crore while net profit rose by 6.1% to ₹396 crore in the March quarter. The operating margin (EBIT margin) expanded by 70 basis points to 15.6%. Teredesai expects to keep margins buoyant, helped by higher employee utilisation and cost Monday's closing price of ₹5,530.4 on the BSE, the stock was traded at a trailing price-earnings (P/E) multiple of 62 compared with the three-year average multiple of 50. The premium reflects the faster growth trajectory of the company compared with the large peers.
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Business Standard
24-04-2025
- Business
- Business Standard
Persistent Systems Q4 results: Profit rises 25% to ₹396 cr on strong growth
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. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard
24-04-2025
- Business
- Business Standard
Persistent Systems rises after Q4 PAT jumps 6% QoQ to Rs 396 cr; declares dividend of Rs 15/sh
Persistent Systems rallied 2.78% to Rs 5,306.50 after the company's net profit advanced 6.1% to Rs 395.76 crore on a 5.87% increase in revenue to Rs 3,242.11 crore in Q4 FY25 over Q3 FY25. However, on a year-on-year basis, the companys consolidated net profit gained 25.51% to Rs 395.76 crore on a 25.15% increase in revenue to Rs 3,242.11 crore in Q4 FY25 over Q4 FY24. Profit before tax stood at Rs 505.21 crore in the fourth quarter of FY25, up 27.74% YoY from Rs 395.49 crore reported in the same quarter last year. In the March 2025 quarter, EBIT improved 34.94% to Rs 505.29 crore, compared to Rs 374.45 crore in Q4 FY24. The EBITDA margin also increased to 15.6%, up from 14.5% in the same period last year. In dollar terms, the IT firms revenue stood at $375.2 million in Q4 FY25, up 20.68% YoY and 4.2% QoQ. The order booking for the quarter ended on 31st March 2025, was at $517.5 million in total contract value (TCV) and at $350.2 million in annual contract value (ACV) terms. On a full-year basis, the companys net profit advanced 28.05% to Rs 1,400.16 crore on a 21.38% jump in revenue from operations to Rs 12,076.87 crore in FY25 over FY24. Sandeep Kalra, chief executive officer and executive director of Persistent, said, We are proud to have delivered our 20th sequential quarter of revenue growth, with an EBIT margin of 15.6%. We thank our employees, clients, partners, and shareholders, whose continued support has been instrumental in our success. As we look ahead, we are optimistic about sustaining progress to reach $2 billion in annual revenue by FY27. Our strategic pivot to AI-led, platform-driven services will drive this growth, fueled by continued rigor and innovation. We are well-positioned to continue delivering consistent and differentiated long-term value for all our stakeholders. Meanwhile, the companys board of directors announced a final dividend of Rs 15 per equity share for the financial year ended 31 March 2025. The record date to determine shareholder eligibility will be announced later via stock exchange filing. Notably, this brings the total dividend paid during the year to Rs 35 per share, a move the company said was made in recognition of its 35th anniversary. Additionally, the board approved the appointment of Vinit Teredesai as chief financial officer (CFO) and additional director (executive) of the company, effective 24 April 2025, for a term ending 30 September 2028. Furthermore, the board has approved the merger of Arrka Infosec, a wholly owned subsidiary, into Persistent Systems. The merger is subject to necessary statutory approvals under the Companies Act, 2013, and will be carried out through the National Company Law Tribunal (NCLT) route. Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization to businesses across industries.
Business Upturn
24-04-2025
- Business
- Business Upturn
Persistent Systems Q4FY25: Revenue up 25.2% YoY to Rs 32,421 Cr, Profit jumps 25.5% to Rs 3,958 Cr
By News Desk Published on April 24, 2025, 07:29 IST Persistent Systems Ltd reported a robust financial performance for the fourth quarter and full year ended March 31, 2025, marking its 20th consecutive quarter of revenue growth. The company recorded Q4FY25 revenue of ₹32,421.1 crore, up 25.2% year-on-year (YoY), while profit after tax (PAT) grew 25.5% YoY to ₹3,957.6 crore. FY25 Financial Highlights FY25 revenue stood at $1,409.1 million, registering 18.8% YoY growth. Revenue in INR terms surged 21.6% YoY to ₹1,19,387.2 crore. EBIT for the full year rose to ₹17,512.6 crore, reflecting a margin of 14.7%, up 23.8% YoY. PAT jumped 28.0% YoY to ₹14,001.6 crore. The Board recommended a final dividend of ₹15/share, taking the total for FY25 to ₹35 in celebration of the company's 35th anniversary. Q4FY25 Performance Snapshot Revenue: ₹32,421.1 Cr (↑ 5.9% QoQ, ↑ 25.2% YoY) EBIT: ₹5,052.9 Cr (↑ 10.9% QoQ, EBIT margin 15.6%) PAT: ₹3,957.6 Cr (↑ 6.1% QoQ, ↑ 25.5% YoY) Strategic Milestones and Announcements Persistent's order bookings for Q4 stood at $517.5 million in Total Contract Value (TCV) and $350.2 million in Annual Contract Value (ACV). The company also inducted its CFO Vinit Teredesai as Additional Director to the Board. CEO Sandeep Kalra attributed the performance to 'consistent delivery, client trust, and operational discipline,' and emphasized the company's ambition to reach $2 billion in annual revenue by FY27. Notable developments during the quarter included: Winning the 2025 Google Cloud Infrastructure Modernization Partner of the Year Award for Asia Pacific. Inclusion in the Gartner Market Guide for Generative AI Services in banking. Recognition as a Leader in ISG Provider Lens and Everest PEAK Matrix assessments. Outlook With continued investments in AI-driven platform services and digital transformation, Persistent aims to maintain growth momentum amidst global uncertainties. The company's strategic focus on innovation, operational excellence, and sustainability was also underscored by its participation in the UN Global Compact and achievement of carbon neutrality. News desk at
