Thursday, July 4, 2024

Persistent’s FY2024 Revenue Reaches $1.186B

Persistent Systems, a global services and solutions company, reported a strong financial performance for the fiscal year 2023-24, with a revenue increase of 14.5% year-on-year. The company also saw a 3.4% quarter-on-quarter revenue growth for the period ending March 31, 2024. This growth was reflected in key financial metrics such as EBITDA, PBT, and PAT, which all showed positive trends.

The Board of Directors recommended a final dividend of ₹10 per share for the financial year 2023-24, subject to shareholder approval. This dividend comes on the heels of an interim dividend declared in January 2024. The company’s leadership expressed gratitude towards their team, clients, partners, and investors for their support and trust, which has been instrumental in driving their success.

Persistent Systems secured significant client wins in the fourth quarter of FY24 across various industries, including software, hi-tech, banking, financial services, insurance, and healthcare. These wins highlight the company’s expertise in driving digital transformation, developing AI/ML applications, and building advanced platforms for their clients.

Looking ahead, Persistent is confident in its ability to continue driving sustainable growth by investing in disruptive technologies like AI. The company’s commitment to operational excellence and building differentiated capabilities has garnered industry recognition, including being named the “Most Promising Company” of the Year at the 2023 India Business Leader Awards.

Persistent Systems’ dedication to pushing boundaries and setting new benchmarks in the industry has positioned them as a leader in digital engineering and enterprise modernization. With a global workforce of over 23,800 employees across 21 countries, Persistent is committed to aligning its strategies with universal principles on human rights, labor, environment, and anti-corruption.

As the company continues its growth trajectory, they remain focused on delivering innovative solutions to meet the evolving needs of their clients. Persistent’s impressive financial performance and strategic investments in disruptive technologies underscore their position as a key player in the global IT services market.

For more information about Persistent Systems and their latest financial results, visit their website at http://www.persistent.com.

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