IT Consulting & Software company Persistent Systems announced Q1FY24 results: Revenue of USD 282.90 million in Q1FY24, up 3% QoQ and 17.1% YoY Revenue of Rs 23,211.75 million in Q1FY24, up 3% QoQ and 23.6% YoY EBITDA of Rs 4,229.44 million in Q1FY24, up 1.6% QoQ and 26.9% YoY EBIT of Rs 3,466.16 million in Q1FY24, up 29% YoY PAT of Rs 2,287.68 million in Q1FY24, down 9% QoQ and up 8.1% YoY Dividend payment of Rs 12 per share and a special dividend of Rs 10 per share on achieving USD 1 Billion in annual revenue The order booking for Q1FY24, was at USD 380.3 million in Total Contract Value (TCV) and USD 271.9 million in Annual Contract Value (ACV) terms. Sandeep Kalra, Chief Executive Officer, and Executive Director, Persistent: “We commenced the year by celebrating a significant milestone of surpassing USD 1 billion in annual revenue with our clients, partners, and team members. As we enter our new fiscal year, I’m pleased to share that we have sustained our growth momentum despite the challenging macroeconomic conditions. Our Digital Engineering leadership, extensive experience across key industries, curated partner ecosystem, and ability to stay ahead of disruptive technology trends has led to our ongoing success. We also want to extend our warm welcome to Dr. Ajit Ranade, a renowned academician, corporate executive, economist and thought leader, as an Independent Director to our Board. He will bring his impressive experience of 32+ years to help guide our strategy and accelerate our growth journey.” Result PDF
Conference Call with Persistent Systems Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.