Market Performance
Persistent Systems, a mid-tier IT firm based in Pune, reported impressive financial results for the quarter ended March 31, 2025. The company’s net profit surged by 25% year-on-year to ₹396 crore, up from ₹315 crore in the same period last year. Revenue also saw a significant increase of 25.2%, reaching ₹3,242 crore compared to ₹2,591 crore in the previous year.
Main News
The company’s operating profit margin expanded to 15.6% from 14.5% in the year-ago period. Despite a decline in new deal signings to $517.5 million from $594 million, the management remains optimistic about future growth. Chief Financial Officer Vinit Teredesai stated that the company aims to achieve $2 billion in revenues by FY26, up from $1.4 billion in FY25, despite ongoing uncertainties.
Company Details
- Employee Strength: The company added 700 employees during the quarter, bringing the total headcount to 24,594.
- Utilization Rate: Persistent Systems maintained a high utilization rate of 88%.
- Hiring Strategy: The company continues to focus on hiring experienced professionals to meet its project requirements.
Summary
Persistent Systems has demonstrated robust financial performance in Q4, with significant increases in net profit and revenue. The company’s strategic focus on experienced hiring and maintaining high utilization rates positions it well for future growth, despite challenges in new deal signings. The management’s aspiration to reach $2 billion in revenues by FY26 reflects its confidence in sustained business expansion.
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