PSPersistent Systems533179Quarterly results

Q2 FY27: Revenue up 20.0% YoY to USD 487.6M; Nagarro stake ~94.04% secured

Q2 FY27 results (quarter ended Sep 30, 2026): revenue USD 487.6M, up 20.0% YoY and 7.8% QoQ.

By ScoutQuest · Thu 15 Oct 2026, 4:13 PM IST · 2 min read

Revenue (USD)

USD 487.6M, up 20.0% YoY and 7.8% QoQ

EBIT

6,977.2 million at 15.0% margin

PAT

3,515.1 million

Persistent Systems issued a press release on October 15, 2026 with its audited financial results for the quarter and half year ended September 30, 2026, approved by the Board of Directors.

Quarter highlights

• Revenue was USD 487.6 million, up 7.8% quarter-on-quarter and 20.0% year-on-year. In rupee terms, revenue was INR 46,639.0 million, up 8.4% QoQ and 30.3% YoY.
• Constant currency growth was 7.8% QoQ and 20.8% YoY.
• EBIT was INR 6,977.2 million, a margin of 15.0%, up 1.6% QoQ and 19.5% YoY.
• Operating PAT was INR 4,951.5 million (margin 10.6%), up 2.5% QoQ and 5.0% YoY.
• PAT was INR 3,515.1 million (margin 7.5%), down 27.2% QoQ and 25.4% YoY.

In his comment, CEO and Executive Director Sandeep Kalra described the quarter as the 26th consecutive quarter of sequential growth, with revenue up 7.8% QoQ and 20.0% YoY at a 15.0% EBIT margin, and spoke of continued work on the company's AI platforms and Enterprise Context offering.

Order book and client wins

• Order booking for the quarter was USD 633.5 million in Total Contract Value (TCV) and USD 481.0 million in Annual Contract Value (ACV).
• The release lists wins across Software, Hi-Tech & Emerging Industries; Banking, Financial Services & Insurance; and Healthcare and Life Sciences, largely for US-based clients. Several involve AI-led modernisation, cloud migration, managed services and cost-efficiency work.

Nagarro acquisition and funding

• The company reports securing approximately 94.04% of Nagarro's share capital and voting rights, excluding treasury shares.
• At an Extraordinary General Meeting, shareholders approved an equity raise of up to USD 450M, with combined equity and borrowings capped at USD 1,250M.
• The release says the proposed combination aligns with the company's long-term M&A strategy, strengthening engineering capabilities, geographic presence and global delivery, and that the company is working towards closing.

Points to track

• Revenue grew in both dollar and rupee terms, with EBIT margin at 15.0%.
• Profit after tax was lower than both the preceding quarter (down 27.2%) and the same quarter last year (down 25.4%), so the PAT trend and its margin are items to follow.
• The funding plan tied to Nagarro is large relative to the quarterly numbers: up to USD 450M of equity and a USD 1,250M combined equity and borrowing cap.
• The release also notes other developments in the quarter, including five awards at the ISG Provider Lens Awards 2026, the Everest Group Growth Honor of the Year for the second year in a row, and recognition in the BW Sustainable World Awards 2026.

The company describes itself as a global services and solutions company with over 29,500 employees located in 21 countries.

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