As compared with Q1 FY23, the company's net profit and revenue are higher by 8.1% and 23.6%, respectively.

EBITDA stood at Rs 422.94 crore in Q1 FY24, was up 1.6% QoQ and up 26.9% YoY.

In US dollar terms, the IT firm's revenue stood at $282.90 million, up 3% QoQ and up 17.1% YoY.

The order booking for the quarter ended on June 30, 2023, was at $380.3 million in Total Contract Value (TCV) and at $271.9 million in Annual Contract Value (ACV) terms.

The board of directors of the company has recommended final dividend of Rs 12 per share and special dividend of Rs 10 per share on achieving $1 billion in annual revenue.

Sandeep Kalra, chief executive officer and executive director, Persistent, said, “As we enter our new fiscal year, I'm pleased to share that we have sustained our growth momentum despite the challenging macroeconomic conditions. Our Digital Engineering leadership, extensive experience across key industries, curated partner ecosystem, and the ability to stay ahead of disruptive technology trends has led to our ongoing success.

We also want to extend our warm welcome to Dr. Ajit Ranade, a renowned academician, corporate executive, economist, and thought leader, as an Independent Director to our Board. He will bring his impressive experience of 32+ years to help guide our strategy and accelerate our growth journey.”

Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization. The company works with the industry leaders including 14 of the 30 most innovative companies as identified by BCG, 8 of the top 10 largest banks in the US and India, and numerous innovators across the healthcare and software ecosystems.