Home / Business and Economy / Persistent Systems Sees 18% Profit Surge Despite Labor Code Costs
Persistent Systems Sees 18% Profit Surge Despite Labor Code Costs
20 Jan
Summary
- Profit grew 17.82% YoY to Rs 439.45 crore, impacted by labor code expenses.
- Revenue increased 23% to Rs 3,778.2 crore in Q3FY26.
- An interim dividend of Rs 22 per share was approved for shareholders.
Persistent Systems announced a consolidated net profit of Rs 439.45 crore for Q3FY26, marking a 17.82% increase compared to the same period last fiscal year. This growth was achieved despite a one-time charge of Rs 89.02 crore related to statutory adjustments for new labor codes.
The company's revenue from operations reached Rs 3,778.2 crore, reflecting a 23.28% rise year-on-year. Excluding the labor code impact, EBIT margins remained steady at 16.7%, demonstrating operational resilience.
In a move to reward shareholders, Persistent Systems approved an interim dividend of Rs 22 per share for FY26. The record date for this dividend is January 27, with payment expected within 30 days.
