IT Consulting & Software company Persistent Systems announced consolidated Q4FY24 & FY24 results: FY24 Financial Highlights: - Revenue: Persistent Systems announced a revenue of USD 1,186.05 million for the financial year 2024, reflecting a YoY growth of 14.5%. In Indian currency, the revenue equated to Rs 98,215.87 million, representing a 17.6% increase from the previous year. - EBITDA: Earnings before interest, taxes, depreciation, and amortization (EBITDA) for FY24 amounted to Rs 17,243.02 million, showing a growth of 13.5% over the prior year. - PBT: Profit before tax (PBT) stood at Rs 14,476.06 million for the financial year, up by 16.7% YoY. - PAT: Net profit after tax (PAT) increased by 18.7% to Rs 10,934.92 million. Q4FY24 Financial Highlights: - Revenue: Quarterly revenue amounted to USD 310.89 million, up by 3.4% QoQ and 13.2% YoY. In Rs terms, this was a revenue of Rs 25,905.26 million, a QoQ growth of 3.7% and a 14.9% increase from the same quarter in the previous year. - EBITDA: EBITDA for the quarter was Rs 4,543.62 million, experiencing a 2.8% increase from the last quarter and a 9.1% hike compared to the same period last year. - PBT: Profit before tax for the quarter grew by 1.6% QoQ to Rs 3,954.93 million, marking a 16.1% increase over the same quarter of the previous year. - PAT: Net profit after tax for the final quarter of FY24 surged by 10.2% QoQ and 25.4% YoY to Rs 3,153.22 million. Dividend: - The Board of Directors recommended a final dividend of Rs 10 per share on the face value of Rs 5 per share for the financial year 2023-24. Commenting on the results,Anand Deshpande, Founder, Chairman, and Managing Director at Persistent said,"Our continued success this fiscal year is a testament to our innovative spirit, remarkable resilience, and strategic foresight, powering the digital transformation journeys of our clients. We approach every challenge as an opportunity and every achievement as a stepping-stone for future endeavors. Our determination to excel in everything we do has helped us set new benchmarks in the industry. We will continue to push the boundaries to scale new heights in the coming year." Commenting on the results, Sandeep Kalra,Chief Executive Officer and Executive Director at Persistent said, "As we reflect on fiscal year 2024, I would like to extend my gratitude towards our incredible team, clients, partners, and investors, whose continued trust has powered our impressive journey. Our industry-leading growth, strong operational rigor, and commitment to building differentiated capabilities led to Persistent’s recognition as the “Most Promising Company” of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. We were also included in three prestigious capital market indices – MSCI India Index, S&P; BSE 100, and S&P; BSE SENSEX Next 50. As we enter the new fiscal year, we are confident in our ability to drive sustainable growth with strategic investments in disruptive technologies like AI and are excited about the road ahead." Result PDF