Pune: Persistent Systems announced strong financial performance for the second quarter of fiscal year 2025, achieving a revenue of $345.5 million, marking a 5.3% growth quarter-on-quarter and an 18.4% rise year-on-year.
The results, approved by the Board of Directors, further highlight the company’s solid momentum as it continues to drive AI-powered and platform-based digital services.
CEO Sandeep Kalra expressed pride in Persistent’s sustained growth, stating, "This quarter marks our 18th consecutive quarter of revenue growth, underscoring our focus on delivering value through AI-led, platform-driven strategies."
Kalra also noted that the company made significant strides in the AI space, acquiring Starfish Associates to enhance contact center modernization and Arrka to expand offerings in data privacy, AI governance, and cybersecurity.
In Q2 FY25, Persistent recorded $529.0 million in Total Contract Value (TCV) and $348.3 million in Annual Contract Value (ACV), with key client wins spanning across software, healthcare, financial services, and other industries.
Notable projects included modernizing cloud-based platforms for a US-based fintech giant and transforming the IT infrastructure for a life sciences company.
In addition to financial growth, the company continued to build on its environmental, social, and governance (ESG) initiatives, achieving carbon neutrality ahead of its target.
Persistent was also recognized in the 2024 Gartner Magic Quadrant for Public Cloud IT Transformation Services and received several awards, including the "Best CEO in IT Services" (Emerging Companies) by Fortune India.
Persistent Systems recently announced that it has reached carbon neutrality for its Scope 1 (direct emissions) and Scope 2 (indirect emissions) a full year ahead of its target, covering the fiscal year 2023-2024.