Q3 2026 Persistent Systems Ltd Earnings Call Transcript

Jan 20, 2026 / 12:30PM GMT

Release Date Price: ₹6343.2 (-1.44%)

Transcript

Key Points

Positve

Persistent Systems Ltd (BOM:533179) achieved a healthy revenue growth of 4% quarter-on-quarter and 17.3% year-on-year, delivering $422.5 million in Q3 of fiscal 2026.
The company reported a significant increase in customer engagement, with top 5 customer revenue growing by 25.6% and top 10 by 28.3% year-on-year.
Persistent Systems Ltd (BOM:533179) declared an interim dividend of INR22 per share, reflecting a commitment to consistent shareholder returns.
The company has made substantial progress in AI initiatives, with platforms like AssistX and SASVA driving operational efficiency and client engagement.
Persistent Systems Ltd (BOM:533179) received multiple awards and recognitions, including being named an emerging leader in Gartner's innovation guide for generative AI consulting.

Negative

The new labor codes in India required additional provisioning for gratuity payment and leave encashment, impacting the EBIT margin by 2.3% and PAT margin by approximately 1.8%.
Profit after tax for the quarter declined by 6.8% quarter-on-quarter.
The company's India revenue declined by 2.5% year-on-year.
There was a foreign exchange loss of INR78.2 million this quarter, primarily due to mark-to-market losses on hedges.
Operating cash flow to PAT ratio decreased to 91% compared to 114.3% in the previous quarter, driven by lower collections due to the holiday season.

Operator

Ladies and gentlemen, good day, and welcome to Persistent Systems earnings conference call for third quarter FY26 ended December 31, 2025. We have with us today on the call, Dr. Anand Deshpande, Chairman and Managing Director; Mr. Sandeep Kalra, Executive Director and Chief Executive Officer; Mr. Vinit Teredesai, Executive Director and Chief Financial Officer; Mr. Jaideep Dhok, Chief Operating Officer; Mr. Debashis Singh, Chief Information Officer; and Mr. Saurabh Dwivedi, Corporate Vice President, Finance and Strategy. (Operator Instructions) Please note, this conference is being recorded.

I now hand over the conference to Mr. Saurabh Dwivedi. Thank you, and over to you, sir.

Saurabh Dwivedi;Investor Relations;Business Finance

Persistent Systems Ltd - Head â;Industry

& -

We sincerely appreciate your participation in today's call. I will quickly outline the agenda. Sandeep will begin with an overview of our results and commentary on the business. Vinit will take you through the financial details and key

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