Persistent Systems delivered better-than-expected results for the March quarter, outperforming even larger Indian IT firms. The company reported a 25% year-on-year rise in consolidated net profit and revenues for Q4 FY25. The revenue for the quarter stood at $375 million.
In comparison, HCLTech’s revenue for the fourth quarter of FY 2025 rose by 1.2%, while TCS's and Wipro's reported 0.8% growth. And Infosys’ revenue declined by 4.2%.
The net profit increased to ₹395.76 crore, compared to ₹315.32 crore in the previous fiscal year, while the revenue touched ₹3,242 crore in the March quarter.
Meanwhile, the company reported a 4.5% sequential growth in constant currency revenue—outperforming analyst projections of 3.7% to 3.8% in Q4 FY25.
This marked Persistent's 20th consecutive quarter of revenue growth, according to CEO and executive director Sandeep Kalra.
Kalra emphasised the company’s operational discipline and resilience amid macroeconomic uncertainty, stating, “Our consistent performance reflects the trust of our clients, the enduring strength of our capabilities, and our operational discipline.”
For Q4 FY25, the company reported a total contract value (TCV) of $517.5 million, compared to $594.1 million in the December quarter. Net new TCV was $329 million, slightly lower than $333.6 million in Q3 but higher than the $302 million reported in the same quarter last year.
Anand Deshpande, founder, chairman and MD of Persistent Systems, attributed a lot of this growth to AI-led deals. “Persistent is leading the AI-led transformation, supported by early investments, strong execution, and a clear vision to embed AI across our clients’ digital journey,” he said in the press release.
In one of the major wins for the quarter, the firm reported that it is using AI platforms for accelerating product innovation and establishing an R&D centre for a non-profit organisation.
Persistent reiterated its long-term goal of achieving $2 billion in annual revenue by FY27, highlighting continued progress toward this milestone.
The company’s performance surpassed that of some peers, with LTIMindtree also reporting positive Q4 FY25 results with modest growth. The company reported revenue of ₹9,771.7 crore, reflecting a 1.1% sequential growth and a 9.9% year-over-year increase. However, in dollar terms, revenue declined by 0.7 % to $1.13 billion.
Debashis Chatterjee, CEO and MD of LTIMindtree, also attributed AI deal wins as part of this growth.
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