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Persistent Systems posts 45.9% jump in profit after tax

The company revenues grew by 36.4% y-o-y in FY22 to Rs 4,187.88 crore while profit after tax jumped by 53.2% to Rs 450.67 crore during the year.

The World Inequality Report said in last December that the top 10% of the Indian population had 57% of the country’s total national income in 2021, while the top 1% held 22%.

Persistent Systems on Wednesday reported a 45.9% year-on-year growth on profit after tax to Rs 200.90 crore during the March quarter. The company’s revenues rose by 47.1% to Rs 1,637.85 crore, while revenue in dollars grew by 42.2% to $217.32 million.

The company revenues grew by 36.4% y-o-y in FY22 to Rs 4,187.88 crore while profit after tax jumped by 53.2% to Rs 450.67 crore during the year.

Anand Deshpande, founder, chairman and MD, Persistent, said amid global uncertainty, the company remained focused and flexible in driving client success in digital engineering and enterprise modernisation.

Sandeep Kalra, CEO and executive director, said FY22 was a banner year for Persistent with 35.2% year-over-year growth because of their ability to identify emerging industry and technology trends and deliver value to clients. Persistent had future-proofed their business to fuel the next phase of growth through strategic investments, acquisitions and leadership hiring, he said.

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