Market Performance
Persistent Systems showcased robust financial performance in Q4 FY24, surpassing market expectations. Despite a slight dip in margins, the company maintained its growth trajectory.
Main News
In the fourth quarter of FY24, Persistent Systems reported:
- Revenue: ₹2,590.5 crore, marking a 14.9% increase year-on-year.
- Net Profit: ₹315.3 crore, up by 25.4% compared to the same period last year.
- EBIT Margin: 14.5%, a decrease from 15.4% in Q4 FY23.
- Total Contract Value (TCV): $447.7 million, slightly down from $475 million in the previous quarter.
The Board has recommended a final dividend of ₹10 per share for FY24, subject to shareholder approval.
Company Details
Persistent Systems continues to demonstrate consistent growth across various sectors:
- Geographical Growth:
- North America: 16.8% year-on-year increase.
- Europe: 13.4% year-on-year growth.
- India: 0.6% year-on-year growth.
- Sectoral Performance:
- Life Sciences & Healthcare: 15% quarter-on-quarter growth.
- BFSI: 2% quarter-on-quarter increase.
- Software, Hi-Tech & Emerging Industries: 0.9% decline quarter-on-quarter.
The company attributes its success to its AI-led, platform-driven services strategy and a focus on organic growth.
Summary of the Article
Persistent Systems has delivered a strong performance in Q4 FY24, with significant increases in revenue and net profit. While there was a slight decline in EBIT margins, the company’s overall growth across geographies and sectors remains commendable. The recommended dividend reflects the company’s commitment to shareholder value. Persistent’s strategic focus on AI and platform-driven services positions it well for sustained growth in the coming fiscal year.
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