Market Performance
Persistent Systems’ Q4 FY24 results showcased robust financial growth, reflecting the company’s resilience and strategic focus in a dynamic market environment.
Main News
In the quarter ending March 31, 2024, Persistent Systems reported:
- Revenue: ₹2,590.5 crore, marking a 14.9% year-on-year (YoY) increase.
- Net Profit: ₹315.3 crore, up by 25.4% YoY.
- EBITDA: ₹454.36 crore, reflecting a 9.1% YoY growth.
- EBITDA Margin: 14.5%, slightly lower than the previous year’s 15.4%, influenced by increased travel costs and higher lateral hiring.
The Total Contract Value (TCV) for Q4 stood at $447.7 million, a decrease from $475 million in the preceding quarter.
Company Details
For the full fiscal year FY24, Persistent Systems achieved:
- Revenue: ₹9,821.6 crore, a 17.6% increase from the previous year.
- Net Profit: ₹1,093.5 crore, up by 18.7% YoY.
- EBITDA: ₹1,724.3 crore, reflecting a 13.5% growth.
The company continues to focus on strategic investments and operational excellence to drive sustainable growth.
Summary
Persistent Systems’ strong Q4 and FY24 financial performance underscores its commitment to delivering value through innovation and strategic execution. The company’s focus on expanding its service offerings and maintaining operational efficiency positions it well for continued success in the evolving IT services landscape.
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