Persistent Systems (BSE & NSE: PERSISTENT) announced the Company’s audited financial results for the quarter ended June 30, 2022, as approved by the Board of Directors.
Consolidated Financial Highlights for the Quarter ended June 30, 2022:
Q1FY23 | Margin % | Q-o-Q growth | Y-o-Y growth | |
---|---|---|---|---|
Revenue (USD Million) | 241.52 | 11.1% | 44.8% | |
Revenue (INR Million) | 18,781.11 | 14.7% | 52.7% | |
EBITDA (INR Million) | 3,332.92 | 17.7% | 18.5% | 65.4% |
PBT (INR Million) | 2,818.75 | 15.0% | 5.5% | 38.8% |
PAT (INR Million) | 2,116.12 | 11.3% | 5.3% | 39.9% |
The 32nd Annual General Meeting of the Company was held on July 19, 2022. All the resolutions including final dividend payment of INR 11 per share, were passed with requisite majority.
Anand Deshpande, Founder, Chairman and Managing Director, Persistent:
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:
Our differentiated Digital Engineering expertise, trusted delivery model, robust client relationships and strong partner ecosystem continue to fuel our growth. In addition, we are confidently working with our clients to help them navigate and thrive in the evolving economic environment.
We received multiple accolades this quarter, including recognition as an ‘Honored Company’ in Institutional Investor’s 2022 Asia Executive Team rankings — an acknowledgement by sell-side analysts for our robust corporate governance practices and strong executive leadership.”
First Quarter FY23 Client Wins and Outcomes
The order booking for the quarter ended on June 30, 2022, was at $394 million in Total Contract Value (TCV) and at $263 million in Annual Contract Value (ACV).
Some of the key wins for the quarter include:
Software, Hi-Tech & Emerging Industries
- Accelerating data, application and mainframe product modernization for a connected enterprise software and technology company
- Improving user experience, scaling automation, and strengthening nearshore presence as a unified service partner for world’s leading technology and cloud services provider
- Building and managing R&D capabilities to improve the extended product portfolio of an IT and security operations solutions company
Banking, Financial Services & Insurance
- Creating robust tech platform to scale operational efficiency and enable omnichannel experience for a premier wealth management firm
- Implementing data center modernization and infrastructure transformation to enhance customer experience and business outcomes for one of the largest third-party claim administrators
- Providing product engineering and domain expertise through an offshore development center to modernize platforms for a leading finance mortgage broker
Healthcare & Life Sciences
- Offering comprehensive software services to support the digital transformation of leading managed healthcare and insurance provider
- Leveraging deep technology and industry expertise to modernize key platforms and improve scalability for a health-tech organization
- Implementing functional data marts on a Data Lake using Snowflake on AWS platform to reduce the total cost of operations for a multinational medical equipment’s manufacturing company