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Persistent Systems Q1 profit rises 13.7% to ₹483 crore
Persistent Systems Q1 profit rose 13.7% YoY to ₹483 crore on 29% revenue growth. Record TCV of $1.15 billion and Nagarro deal point to $2.9B revenue run rate.
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Persistent Systems posted a 13.7% rise in net profit for the quarter ended June, reaching ₹483.04 crore. Revenue climbed 29% to ₹4,303.22 crore.
Sequentially, profit fell 8.7% as forex losses weighed, though revenue grew 6%. The company's CEO Sandeep Kalra pointed to a record quarterly total contract value of $1.15 billion.
The Software, Hi-Tech and Emerging Industries vertical remained the largest revenue contributor at 40.7%, up 15.7% from a year earlier. BFSI accounted for 34% of revenue, growing 16.3%. Healthcare and Life Sciences added 25.3%, a 16.4% increase.