• Quarterly financial results: Persistent Systems reported a 3.1% quarter-on-quarter increase in US dollar revenue, 7.4% growth in rupee terms, and a 20% rise in profit, alongside an EBIT margin of 16.3%.
• Long-term revenue guidance: The company is tracking toward its target of achieving $2 billion in revenue by the exit of FY27 while maintaining margins within its 16% to 17% guided range.
• Vertical growth drivers: Growth was broad-based, driven primarily by Healthcare and Life Sciences in the quarter, while the Banking and Financial Services vertical expanded by over 24% year-on-year.
• AI strategy and pipeline: Strong deal momentum is centered around AI-driven efficiencies and data security in regulated sectors, supported by client adoption and license sales of its AI solution, SASWA.