Persistent Records $328.2 Million Revenue in Q1 FY25 with 5.6% Q-o-Q, 16.0% Y-o-Y Growth
Pivots to AI-led, platform-driven services approach
Consolidated Financial Highlights for the Quarter ended
|
Q1FY25 |
Margin% |
QoQ |
YoY |
Revenue (USD Million) |
328.2 |
|
5.6 % |
16.0 % |
Revenue (INR Million) |
27,371.7 |
|
5.7 % |
17.9 % |
EBITDA (INR Million) |
4,552.1 |
16.6 % |
0.2 % |
7.6 % |
PBT (INR Million) |
4,005.4 |
14.6 % |
1.3 % |
30.4 % |
PAT (INR Million) |
3,064.2 |
11.2 % |
-2.8 % |
33.9 % |
The 34th Annual General Meeting of the Company was held on
"I am pleased to announce our 17th consecutive quarter of revenue growth, underscoring our clients' sustained trust and confidence in us. Our continued success is driven by resilience, innovation, and a strategic focus on future readiness.
We have pivoted to an AI-led, platform-driven services approach, deepening our hyperscaler partnerships and developing a suite of innovative solutions. Recognizing our transformative digital solutions, ISG, the leading advisory firm, ranks us as a Leader for Digital Engineering services in the US and
Ms.
First Quarter FY25 Client Wins and Outcomes
The order booking for the quarter ended on
Some of the key wins for the quarter include:
Software,
- Delivering engineering and support services to accelerate the virtual private cloud roadmap and provide managed services for one of the largest US-based technology companies
- Consolidating R&D operations globally and enhancing productivity to advance the AI, data, and SaaS strategy of a leading European network lifecycle automation company
- Setting up greenfield IT and security operations with managed services model to ensure timely transition for an application security testing firm, a PE-led carve-out from a top semiconductor company
Banking,
- Modernizing customer data applications, enhancing risk and sales business KPIs, and implementing GenAI to improve customer experience for an American financial services and wealth management company
- Building a cloud-native payment rail solution to enable real-time payments for the customers of one of the largest US-based fintech companies
- Transforming legacy platforms and digitizing processes to elevate the experience of business banking customers for a leading Australian multinational bank
Healthcare & Life Sciences
- Enhancing the software platform that tracks sample processing as well as reagent and instrument usage to improve turnaround time and reduce manual errors for a leading precision oncology company
- Migrating on-prem clinical and claim data warehouse to a cloud-based platform to boost analytics efficiency for a multinational health insurance company
- Undertaking product lifecycle management of critical applications for genetic condition diagnostics to increase operational efficiency for a leading US-based diagnostics company
-
Persistent Acquires Starfish Associates , Strengthening its Position in AI-powered ContactCenter and Unified Communications - Persistent Enters into Strategic Partnership Agreement to Drive Innovative Solutions Powered by Google Cloud
- Persistent Achieves Premier Services Partner Status with Snowflake, Boosting Data Management and Analytics Capabilities
- Persistent Transforms Enterprise Data Management with iAURA, a Portfolio of AI-Powered Data Solutions
-
Persistent's Founder, Chairman, and Managing Director, Dr.
Anand Deshpande honored with theAssociation of Computing Machinery Presidential Award 2023 -
Persistent ranked a Leader in ISG Provider Lens™ Digital Engineering Services Quadrant Report
U.S. 2024 -
Persistent named a Leader in ISG Provider Lens™ Digital Engineering Services Quadrant Report for
Europe , 2024 -
Persistent cited a Leader and Rising Star in ISG's Provider Lens™
Salesforce Ecosystem Partners 2024 Report -
Persistent Recognized for Excellence in Governance and Executive Leadership in Institutional Investor's 2024
Asia Executive Team Survey - Persistent won the "Masters of Risk" award in the Risk Governance category at the CNBC-TV18 India Risk Management Awards
About Persistent
Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs
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