1:2 Split, Rs 42/Sh Dividend In 2024: Midcap IT Company Posts 34% Jump In Q1 PAT, Order Book $462.8 Mn

Midcap computers software and consulting company, Persistent Systems witnessed double-digit growth in terms of bottom-line and top-line in Q1 of FY25. Consolidated PAT jumped by 33.9% YoY to Rs 306.4 crore in Q1FY25. While revenue climbed by 17.9% YoY to Rs 2,737.17 crore in the quarter under review.

However, on a quarter-on-quarter basis, Persistent's PAT was down by 2.8% but revenue was up by 5.7% compared to the March 2024 quarter prints.

In dollar terms, revenue stood at 328.2 million, up by 16% YoY and 5.6% QoQ.

EBITDA in rupee was at Rs 455.2 crore, registering a growth of 7.6% YoY and 0.2% QoQ.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent said, "I am pleased to announce our 17th consecutive quarter of revenue growth, underscoring our clients' sustained trust and confidence in us. Our continued success is driven by resilience and readiness."

Also, in the quarter, the company's order booking was at $462.8 million in Total Contract Value (TCV) and at $337.3 million in Annual Contract Value (ACV) terms.

Further, Kalra added, "We have pivoted to an AI-led, platform-driven services approach, deepening our hyperscaler
partnerships and developing a suite of innovative solutions. Recognizing our transformative digital solutions, ISG, the leading advisory firm, ranks us as a Leader for Digital Engineering services in the US and Europe 2024, for the second year in a row."

On BSE, Persistent's stock price ended at Rs 4903.00 apiece, up by 1.73% with a market cap of Rs 75,530.72 crore. The stock is near its 52-week high of Rs 4,925 apiece.

In 2024, Persistent has carried a host of corporate actions. The company first paid an interim dividend of Rs 32 per share for which it turned ex-dividend in January 2024, followed by a final dividend of Rs 10 per share for which it turned ex-dividend recently on July 9, 2024. Together, Persistent has paid dividends worth Rs 42 per share for FY24.

Additionally, in March 2024, the company's stocks also turned ex-split for the stock split ratio of 1:2. The face value of Rs 10 each has been split to Rs 5 each for Persistent shares.

Persistent Systems is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,500 employees located in 19 countries, the Company is committed to innovation and client success.