Reports 9.1% Sequential Q-o-Q growth.

Santa Clara, CA and Pune, India

News Summary

Persistent Systems (BSE & NSE: PERSISTENT) today announced the company’s audited financial results for the quarter and year ended on March 31, 2022, as approved by the Board of Directors.

Consolidated Financial Highlights for the Financial Year 2021-2022:
FY21 FY22 Y-o-Y growth
Revenue (USD Million) 566.08 765.59 35.2%
Revenue (INR Million) 41,878.88 57,107.46 36.4%
EBITDA (INR Million) 6,830.15 9,581.71 40.3%
PBT (INR Million) 6,094.43 9,242.79 51.7%
PAT (INR Million) 4,506.77 6,903.86 53.2%
Consolidated Financial Highlights for the Quarter ended March 31, 2022:
Q4FY22 Q-o-Q growth Y-o-Y growth
Revenue (USD Million) 217.32 9.1% 42.2%
Revenue (INR Million) 16,378.54 9.8% 47.1%
EBITDA (INR Million) 2,811.74 12.0% 49.3%
PBT (INR Million) 2,671.83 13.0% 44.5%
PAT (INR Million) 2,009.90 13.9% 45.9%

The Board of Directors recommended final dividend of ₹11 per share on the face value of ₹10 each. In January 2022, the Board declared an interim dividend of ₹20 per share making the total dividend ₹31 per share. The final dividend recommended by the Board is subject to the approval of the members during the ensuing Annual General Meeting.

Anand Deshpande, Founder, Chairman and Managing Director, Persistent:

“Growth and grit defined this year for Persistent Systems. Amidst global uncertainty, we’ve remained focused and flexible in driving client success as a leader in Digital Engineering and Enterprise Modernization. Persistent’s sustained growth underscores the values and commitment of our entire team to confidently transform new ideas into tangible business results.”

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:

“FY22 was a banner year for Persistent with 35.2% year-over-year growth. Our ability to identify emerging industry and technology trends and deliver value to clients through our expertise has given us a significant competitive advantage in the market. We are grateful to our clients, partners, employees, and other stakeholders for their continued trust in our team and ongoing collaboration.

In addition to delivering industry leading growth, we’ve future-proofed our business to fuel the next phase of our growth through strategic investments, acquisitions and leadership hiring. These moves have bolstered our Digital Engineering skills, enhanced our partnerships across the hyperscaler ecosystem, and deepened our expertise in our core industries. With this foundation, we remain focused on expanding the business outcomes we deliver to our clients and look forward to building the next phase of Persistent.”

Fourth Quarter FY22 Client Wins and Outcomes

The order booking for the quarter ended on March 31, 2022, was at $361.00M in Total Contract Value (TCV) and at $261.90M in Annual Contract Value (ACV).
Some of the key wins for the quarter include:

Software, Hi-Tech, & Emerging Industries

  • Launching product engineering center of excellence to drive efficiency and reduce time to market for a pioneer in no-code technology
  • Managing and modernizing end-to-end IT operations for a company that builds telecom expense management software
  • Designing, building and managing a hybrid multi-cloud infrastructure transformation program for a leading global media company

Banking, Financial Services & Insurance

  • Modernizing Core and Enterprise Data platforms and migrating to cloud for a payments network provider
  • Scaling technology operations while executing digital transformation initiatives for a leading wealth-tech company that provides financial advisor software for businesses
  • Providing advisory and consulting services to drive process efficiency and vendor consolidation for one of the largest US banks

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

News in the Quarter

Awards and Recognition for FY22

About Persistent

With over 18,500 employees located in 19 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. Persistent was named to the Forbes Asia Best Under a Billion 2021 list, representing consistent top-and bottom-line performance as well as growth.

Forward-looking and Cautionary Statements

For risks and uncertainties relating to forward-looking statements, please visit

Media Contacts

Keith Landis
Persistent Systems (Global)
+1 856 672 1753

Manohar Dhanakshirur
+91 750 644 5361