Declares Interim Dividend of ?32 per share, recommends stock split.
News Summary
Consolidated Financial Highlights for the Quarter ended
Q3FY24 Margin% Q-o-Q Growth Y-o-Y Growth
Revenue (USD Million) 300.55 3.0% 13.7%
Revenue (INR Million) 24,982.16 3.6% 15.2%
EBITDA (INR Million) 4,418.34 17.7% 9.1% 10.0%
PBT (INR Million) 3,893.01 15.6% 9.4% 20.6%
PAT (INR Million) 2,861.34 11.5% 8.7% 20.2%
The Board of Directors declared an Interim Dividend of ?32 per share on the face value of ?10 each for the Financial Year 2023-2024. In addition, the Board has recommended to the shareholders a resolution to split the face value of shares from ?10 per share to ?5 per share.
'We are proud to announce the 15th sequential quarter of growth and a significant milestone of our first-ever quarter of $300M+ in revenue and $500M+ in TCV bookings. We are thankful for the ongoing trust and support of our valued clients and partners, which has led to our sustained growth.
We are happy to declare an interim dividend of ?32 per share for FY24. Our Board has also recommended to the shareholders a resolution to split the face value of shares from ?10 per share to ?5 per share.
We were recognized as the 'Most Promising Company' of the Year at the 2023 CNBC-TV18 India Business Leader Awards, acknowledging our sustained momentum. We were also included in three prestigious capital market indices -- MSCI India Index, S&P BSE 100 and S&P BSE SENSEX Next 50, reflecting our strong fundamentals, client confidence, and competitive edge in the global technology services market.
I am delighted to welcome
Third Quarter FY24 Client Wins and Outcomes
The order booking for the quarter ended on
Some of the key wins for the quarter include:
Software,
Transforming Salesforce-based applications,
Setting up greenfield IT under a managed services model for a leading publisher, which is a Private Equity led carve-out from a global media conglomerate
Developing and supporting connectors of next-gen tools, including tools in the GenAI domain for two of the leading Hyperscalers
Banking,
Building and maintaining applications across domains such as capital markets, payments, treasury, and customer support for one of the largest US banks
Enhancing and supporting the new cloud-based core banking platform for a leading provider of financial technology to credit unions
Modernizing the
Healthcare & Life Sciences
Engineering key product suite, including building data analytics capabilities for chromatography, instrument support, and microarray image algorithms for a leading analytical instrument company
Upgrading and migrating the safety database while ensuring regulatory compliance for a Fortune 500 scientific instrumentation company
Developing an AI-led drug discovery platform to enable quick decision-making for synthesis and biological evaluation for a leading contract research, development, and manufacturing organization
News in the Quarter
Persistent Announces Strategic Collaboration Agreement with AWS to Accelerate Generative AI Adoption
Persistent Included in Three Prestigious Capital Market Indices -- MSCI India Index, S&P BSE 100 and S&P BSE SENSEX Next 50 Indices
Persistent Launches First-of-its-Kind Open-Source Maintenance Service
Persistent Expands Executive Leadership Team in Support of Its Ambitious Growth Plans
Awards and Recognitions
Persistent Recognized as the 'Most Promising Company' of the Year at CNBC TV18's India Business Leader Awards
Persistent
Persistent Featured as a Generative AI Market Leader in HFS Horizons: Generative Enterprise Services, 2023 Report
Persistent Cited as a Leader in
Persistent Named a Leader in
About Persistent
With over 23,000 employees located in 21 countries,
www.persistent.com
Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit www.persistent.com/flcs/
Media Contacts
+91 93237 42377
aarti_somaiya@persistent.com
+1 617 633 1635
emma_handler@persistent.com
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