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Persistent faces a reality check
Mint Mumbai
|July 29, 2025
Persistent Systems Ltd's revenue growth lost momentum in the June quarter (Q1FY26) amid client-specific delays and subdued macroeconomic conditions.
Against a run rate of over 4% in the preceding four quarters, constant currency revenue for India's ninth largest information technology services company grew 3.3% in Q1, missing analysts' expectations.
While Persistent Systems' banking, financial services and insurance (BFSI), software and hi-tech segments drove growth, healthcare and life science revenue declined sequentially. The healthcare segment faces headwinds due to the US's tariff on China, impacting medical equipment manufacturers.
Healthcare, a key growth driver for Persistent lately, is likely to rebound, the management said, adding that BFSI would continue to anchor growth and that the hi-tech segment is expected to remain stable.
Despite a soft Q1, Persistent eyes industry-leading growth in FY26. It maintained its FY27 target of $2 billion revenue. This would translate to a 19-20% annualized growth.
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