Persistent reports $1.186B revenue for FY2024

Persistent Systems, a global services and solutions company, has reported a significant increase in revenue for the financial year 2023-24. The company’s revenue grew by 14.5%, reaching USD 1,186.05 million, and by 17.6% in INR terms. Additionally, the company saw a quarterly revenue growth of 3.4% for the fourth quarter of FY24.

The Board of Directors recommended a final dividend of ₹10 per share for the financial year 2023-24, subject to approval at the Annual General Meeting. This is in addition to the interim dividend of ₹32 per share declared in January 2024.

Persistent Systems’ Founder, Chairman, and Managing Director, Anand Deshpande, praised the company’s innovative spirit, resilience, and strategic foresight. He emphasized the company’s determination to excel and set new benchmarks in the industry.

Sandeep Kalra, the Chief Executive Officer, acknowledged the contributions of the team, clients, partners, and investors to the company’s success. Persistent’s industry-leading growth and commitment to building differentiated capabilities have earned it recognition as the “Most Promising Company” by CNBC-TV18 and inclusion in prestigious capital market indices.

Looking ahead, Persistent is confident in its ability to drive sustainable growth with strategic investments in disruptive technologies like AI.

In Q4 FY24, Persistent secured key client wins in various industries, including software, hi-tech, banking, financial services, insurance, and healthcare. These wins include initiatives like IT transformation, AI/ML applications development, digital transformation, automation, and more.

Persistent Systems, with over 23,800 employees in 21 countries, is committed to delivering Digital Engineering and Enterprise Modernization solutions. The company is aligned with universal principles on human rights, labor, environment, and anti-corruption as a participant of the United Nations Global Compact. Persistent has seen significant growth since 2020, making it the fastest-growing Indian IT Services brand.

For more information, visit http://www.persistent.com

For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs

Persistent Systems logo: [Insert logo image]

By reporting impressive financial results and highlighting key client wins, Persistent Systems continues to demonstrate its leadership in the industry. With a focus on innovation and strategic growth, the company is well-positioned for future success.

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