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Persistent beats demand dip in Q2. Can it hit $2 bn revenue?

Mint Mumbai

|

October 17, 2025

Persistent Systems Ltd is handling the muted demand scenario in the IT sector well. In Q2FY26, the tier-II company’s sequential constant currency revenue grew 4.4%, exceeding the consensus estimate of 3.5%.

- Manvi Agarwal feedback@livemint.com

This pushed the stock up more than 8% in the past two days. Growth was broadbased, led by momentum in the banking, financial services, and insurance (BFSI) vertical, healthcare and the Europe geography.

After a muted first quarter, lender fared better on many paramdeal wins gained traction in Q2FY26, aiding revenue visibility. The trailing 12-month total contract value rose 15% year-on-year (yo-y) to $609 million, implying a 1.5x bookto-bill ratio, while quarterly annual contract value bookings grew 28%.

Given the robust deal pipeline and strong execution seen so far, the management reiterated its $2 billion revenue ambition for FY27. It is banking on strong growth in FY26 led by BFSI and hi-tech, with healthcare gradually recovering.

Earnings before interest and tax (Ebit) margin rose 80 bps q-o-q to 16.3% in Q2FY26, beating the 15.7% estimate. Lower software costs, currency gains, and offshore shift offset higher provisions and softer utilisation.

FLERE HISTORIER FRA Mint Mumbai

Mint Mumbai

JSW Steel eyes strong H2 on demand, policy boost

After reporting robust numbers for the second quarter despite a challenging global environment, JSW Steel said it expects a strong second half for the company on the back of 8-9% growth in domestic demand for steel in FY26.

time to read

2 mins

October 18, 2025

Mint Mumbai

Govt plans Golden Quadrilateral 2.0 to expand road grid

The Union government is planning a sequel to the Golden Quadrilateral network of national highways, introducing high-speed expressways linking India's major economic centres, according to two officials aware of the matter.

time to read

2 mins

October 18, 2025

Mint Mumbai

Mint Mumbai

RIL Q2: Profit surges 16% as all engines gain steam

All of its key businesses—O2C, telecom and retail—saw marginal improvements

time to read

3 mins

October 18, 2025

Mint Mumbai

Gift with intention

Communication isn't just about exchanging information; it's about exchanging information that makes us understand, comprehend and feel for one another.

time to read

1 mins

October 18, 2025

Mint Mumbai

Mint Mumbai

Food delivery growth cushions Blinkit losses for Eternal in Q2

Eternal Ltd (formerly known as Zomato) posted amixed bag performance in the September quarter (Q2FY26).

time to read

2 mins

October 18, 2025

Mint Mumbai

Mint Mumbai

In the dark about light pollution

Beset as we are with many kinds of pollution, we barely pay attention to light pollution and ignore the risks it poses

time to read

5 mins

October 18, 2025

Mint Mumbai

Mint Mumbai

12 states, UTs support e-bus payment plan

PM E-bus Sewa PSM scheme plans to build confidence in e-bus makers

time to read

2 mins

October 18, 2025

Mint Mumbai

Govt plans highway network to expand road grid

The officials did not disclose the planned length of the proposed high-speed expressways or the investment.

time to read

1 min

October 18, 2025

Mint Mumbai

SC allows Natco to sell generic of Roche drug until case ends

The Supreme Court on Friday rejected Swiss pharmaceutical giant F. Hoffmann-La Roche AG's (Roche) pleaseeking that Natco Pharma Ltd berestricted from selling the generic version of its lifesaving spinal muscular atrophy (SMA) drug, Risdiplam, in India until the conclusion of the case.

time to read

2 mins

October 18, 2025

Mint Mumbai

Mint Mumbai

Dixon meets revenue goal in Q2, bets on components

Topline grows 33% on year to ₹14,855 cr, unsold goods from Q1 drive profits in Sep quarter

time to read

3 mins

October 18, 2025

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