Persistent Systems Q3 results: Net profit up 46% at Rs 176.3 cr; revenue rises 38.7% to Rs 1,491.7 cr

AgenciesUpdated: Friday, January 21, 2022, 10:25 AM IST
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As Persistent Systems progresses on its growth journey, it will continue to enable clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers, the firm's CEO said. / Representative Image |

IT firm Persistent Systems on Thursday said its net profit rose 45.9 per cent to Rs 176.3 crore in the December 2021 quarter.

The company had logged a net profit of Rs 120.9 crore in the year-ago period, Persistent Systems said in a regulatory filing. Its revenue increased 38.7 per cent to Rs 1,491.7 crore in the quarter under review from Rs 1,075.3 crore in the year-ago period, it added.

In dollar terms, revenue was up 36.2 per cent at $199.12 million in the December 2021 quarter from $146.15 million in the October-December 2020 period.

''We are proud to announce another quarter of exceptional performance, with 36.2 per cent year-over-year growth. This sustained momentum is a result of our strong capabilities in designing and engineering new digital experiences, revenue streams, and business models for our clients,'' Persistent Systems CEO and Executive Director Sandeep Kalra said.

He added that as the company progresses on its growth journey, it will continue to enable clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers.

''And finally, we welcomed Avani Davda to Persistent's Board of Directors and continued to add new seasoned executives to our leadership team. In addition, we onboarded the first member to the Persistent Advisor Network, Werner Boeing, former Roche Diagnostics CIO,'' he said.

The order booking for the quarter ended December 31, 2021 was at $334.3 million in Total Contract Value (TCV) and at $291.3 million in Annual Contract Value (ACV).

The company had 16,989 employees at the end of the third quarter of FY22.

The Board of Directors declared an interim dividend of Rs 20 per share for the financial year 2021-2022.

(With inputs from PTI)

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