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- 24 Apr 2025
- ICICIdirect Research
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PERSISTENT SYSTEMS REPORTED Q4FY25 RESULTS WITH REVENUES AT US$375.2 MN
PERSISTENT - 5761 Change: -115.50 (-1.97 %)News: Persistent Systems reported Q4FY25 results with revenues at US$375.2 mn, up 4.2% QoQ/20.7% YoY. In CC terms, revenue was up 4.5% sequentially. Geography wise North America (80.5% of the mix), Europe (8.4% of the mix) and India (9.3% of the mix) reported a sequential growth of 4.2%, 6.7% and 3.1% while and ROW (1.8% of the mix) declined 1.3% QoQ. Segment wise, BFSI (32.3% of the mix), TMT (40.9% of the mix) and Healthcare (26.8% of the mix) grew sequentially by 6.1%, 5.2% & 0.4% respectively. EBIT margins came in at 15.6%, up ~70 bps QoQ/~110 bps YoY. The PAT stood at ₹395 crore, up 6.1% QoQ/25.5% YoY. The TCV came at US$517.5 mn (down 12.9% QoQ/up 15.6% YoY) with new bookings contributing US$329 mn. For FY25 revenues came in at US$1409.1 mn, up 18.8% YoY. The EBIT margin stood at 14.7%, up 30 bps YoY. PAT stood at ₹1400 crore, up 28% YoY.
View: The company continues to deliver industry leading growth with a robust YoY performance. All geos (barring ROW) and verticals grew showing resilience amid macro uncertainty. The management also remains optimistic about sustaining progress to reach its target of US$2 billion in annual revenue by FY27, implying a 19% CAGR over FY25-FY27. Key monitorable would be margins and TCV growth going ahead. We maintain a constructive view on the company and await management commentary on demand and growth.
Impact: Positive