Persistent Systems logs $1,186 million in revenue in FY24, up 14.5 per cent

New Delhi, April 21 (IANS) Multinational technology services company Persistent Systems on Sunday announced revenue of $1,186 million in FY24, which is up 14.5 per cent (year-on-year).

The IT services firm reported an 25.36 per cent rise in net profit to Rs 315.3 crore (year-on-year) for the fourth quarter (Q4).

The company’s board recommended a final dividend of Rs 10 per share on the face value of Rs 5 per share for the financial year 2023-24.

"Our continued success this fiscal year is a testament to our innovative spirit, remarkable resilience, and strategic foresight, powering the digital transformation journeys of our clients,” said Anand Deshpande, Founder, Chairman and Managing Director, Persistent.

The order booking for the quarter ended on March 31 was at $447.7 million in total contract value (TCV) and at $316.8 million in annual contract value (ACV) terms.

“As we enter the new fiscal year, we are confident in our ability to drive sustainable growth with strategic investments in disruptive technologies like AI and are excited about the road ahead,” said Sandeep Kalra, CEO and Executive Director, Persistent.

With over 23,800 employees located in 21 countries, Persistent Systems is delivering digital engineering and enterprise modernisation solutions.

With 268 per cent growth since 2020, Persistent is the fastest-growing Indian IT Services brand, according to Brand Finance.

“We will continue to push the boundaries to scale new heights in the coming year,” said Deshpande.

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