On January 23, 2025, Persistent Systems shares are in focus as the company has released its financial results for the quarter ending December 31, 2024. Persistent Systems shares opened at ₹5828.85 and touched the day high of ₹5797.70 at 09:20 AM.
During Q3FY25, Persistent Systems saw a robust Year-on-Year (YoY) growth of 30.35% in consolidated profit after tax (PAT), reaching ₹373 crore, compared to ₹286 crore in the same quarter the previous year. Sequentially, PAT rose from ₹306 crore in the September 2024 quarter. Revenue from operations for the quarter surged to ₹3,062 crore, marking a 22.6% increase from ₹2,498 crore in Q3 FY24. On a quarter-on-quarter (QoQ) basis, revenue also grew by 6%.
The company’s Earnings Before Interest and Tax (EBIT) stood at ₹455 crore, reflecting a 12.2% QoQ increase and a 25.5% YoY growth. EBIT margins improved by 400 basis points to 14.9% in Q3 FY25, compared to 14% in Q3 FY24.
Persistent Systems reported a strong order booking of $594.1 million in Total Contract Value (TCV) for the quarter, with $428.3 million in Annual Contract Value (ACV), as per the company’s earnings filing. This impressive performance underscores the company’s continued growth and solid positioning in the market.
Persistent Systems has made significant strides in the Software, Hi-Tech, and Emerging Industries sector. Notably, the company is modernizing product development with its SASVA™ platform for a leading UK-based business software provider, aimed at driving recurring revenue and optimizing R&D costs. Additionally, Persistent is enhancing product management, security, and revenue for a prominent observability and IT software provider using AI-led engineering. The company is also modernizing data management with its iAURA solution for a leading food services and facilities management company.
In the Banking, Financial Services, and Insurance sectors, Persistent is leveraging its SASVA™ platform to modernize legacy systems and improve developer productivity for a US-based financial services firm. The company is also revamping enterprise gateway services for better scalability and real-time authorization for a global payments technology leader. Furthermore, Persistent is using GenAI to automate insurance claims and improve ROI for a US-based insurance company.
In Healthcare and Life Sciences, Persistent is transforming patient care and pharmacy platforms for a major healthcare and health insurance provider, improving patient experience while reducing technology debt. The company is replacing legacy systems with a revenue management solution for a global healthcare leader, enhancing both cost-efficiency and performance. Additionally, Persistent is enabling a migration from MuleSoft to Azure with SASVA™ to drive operational efficiency for a leading life sciences analytics company.
On January 22, 2025, Persistent Systems declared an interim dividend of ₹20 per equity share (face value ₹5) for the financial year 2024-25. The record date for the dividend has been set for January 31, 2025.
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Published on: Jan 23, 2025, 9:34 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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