Q1 FY23 Quarterly Results

  • Revenue


  • Q-o-Q Revenue Growth

    +11.1 %

  • Y-o-Y Revenue Growth


  • TTM Revenue


  • Total Contract Value (TCV) Booking




  • Y-o-Y PAT Growth


  • Employees


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%
Anand Deshpande, Founder, Chairman and Managing Director, Persistent
We would like to thank Guy Eiferman, Thomas Kendra and Pradeep Bhargava for their exemplary service as Directors on Persistent’s Board. Their guidance and encouragement will continue to inspire us.

We are pleased to welcome Dr. Ambuj Goyal, Arvind Goel and Dan’l Lewin to the Board of Persistent Systems. Their vast expertise and experience will add significant value and play a crucial role as we embark to the next level of our growth journey.

Anand Deshpande, Founder, Chairman and Managing Director, Persistent

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent
We are delighted to share that Persistent started the new fiscal year with an exceptional performance — delivering growth of 11.1% sequential and 44.8% year-over-year. This quarter was particularly notable, as we reported our highest ever TCV booking of $394M and crossed the 20,000 employee mark — all significant milestones in our 32 year journey.

Once again, our differentiated Digital Engineering expertise, trusted delivery model, robust client relationships and strong partner ecosystem continue to fuel our growth. In addition, we are proactively working with our clients to help them navigate and thrive in the current economic environment, leveraging technologies like cloud, AI, and automation.

We received multiple accolades this quarter, including being recognized as an ‘Honored Company’ in Institutional Investor’s 2022 Asia Executive Team rankings — a recognition by sell-side analysts for our robust corporate governance practices and strong executive leadership.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent

First Quarter FY23 Client Wins and Outcomes
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 and 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
  • Engineering the next generation platform to scale diagnostics and drug discovery business for a leader in immune-driven medicine
  • Enhancing patient relationship management and experience with Salesforce for a global biopharmaceutical company
  • Transforming traditional supply chain into a modern network powered by patient demand for a multinational pharmaceutical company
Previous Quarterly Results

Contact us

    You can also email us directly at info@persistent.com.

    You can also email us directly at info@persistent.com