Persistent Systems Q2 Results: Profit Up 23%, Revenue Jumps 20%

IT services firm Persistent Systems Ltd. reported a 23% increase in consolidated net profit, reaching Rs 324.9 crore for the quarter ended September 2024, compared to Rs 263.2 crore in the same period last year.

Revenue from operations for the quarter was Rs 2,897.1 crore, marking a 20% rise from Rs 2,411.6 crore in the previous year's September quarter.

"This quarter, we continued to enhance our capabilities and advance our AI-led, platform-driven services strategy," Chief Executive Officer Sandeep Kalra said. "We partnered with Starfish Associates to enhance our AI-powered contact center modernisation, and the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity.

During the quarter, the company recorded order bookings of $529 million (approximately Rs 4,447 crore) in total contract value. Based in Pune, Persistent Systems has a global workforce of over 23,200 employees, with 19,899 based in India.

Shares of Persistent Systems closed 1.75% down at Rs 5,156.40 apiece on the BSE.

(With PTI Inputs)