Persistent Achieves $345.5 Million Revenue in Q2 FY25 with 5.3% Q-o-Q, 18.4% Y-o-Y Growth
Comunicato Precedente
Comunicato Successivo
Consolidated Financial Highlights for the Quarter ended September 30, 2024
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:
"We are proud to announce the 18th sequential quarter of revenue growth, delivering $345.5M revenue, an 18.4% increase year-over-year. In the same period, our PAT grew by 23.4% in rupee terms.
This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernization; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity.
For the second year in a row, we were named a Challenger in the 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services. We believe this inclusion underscores our differentiated cloud expertise and ability to deliver boutique-style client experiences using AI and automation.
Deepening our ESG commitment, I am pleased to share that we achieved carbon neutrality ahead of our target. These accomplishments demonstrate our dedication to delivering exceptional value to our clients while positively impacting the environment and society."
Second Quarter FY25 Client Wins and Outcomes
The order booking for the quarter ended on September 30, 2024, was at $529.0 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms.
Some of the key wins for the quarter include:
Software, Hi-Tech & Emerging Industries
Banking, Financial Services & Insurance
Healthcare & Life Sciences
News in the Quarter
Awards and Recognitions
About Persistent
Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,200 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company has been recognized as the "Most Promising Company" of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. Persistent has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. As a participant of the United Nations Global Compact, the Company is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 327% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report.
Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit
persistent.com/flcs
View original content:https://www.prnewswire.co.uk/news-releases/persistent-achieves-345-5-million-revenue-in-q2-fy25-with-5-3-q-o-q-18-4-y-o-y-growth-302283089.html
