Persistent Systems

Vikram Tulsyan resigned from his position as Senior Vice President-Business Finance and SMP at Persistent Systems Limited, effective from the closure of business hours on November 21, 2025 (US Time). The resignation was attributed to personal reasons with no material reasons cited beyond the stated cause, affecting the company's senior finance leadership structure.

Persistent Systems has launched an Experience Transformation Studio focused on AI-based innovation. The studio is designed to help businesses create revolutionary user experiences and improve their work processes through AI technology.

Persistent Systems delivered revenue of $406.2 million in Q2 FY26, marking 4.2% quarter-on-quarter growth and 17.6% year-on-year growth. This represents the company's 22nd consecutive quarter of growth, bringing trailing 12-month revenue above $1.5 billion. EBIT margin reached 16.3%, showing 230 basis points improvement year-on-year, while profit after tax margin was 13.2%, up 45.1% year-on-year in absolute terms. The company reported total contract value of $609.2 million with new bookings at $350.8 million. Client metrics showed robust growth with top 5 clients' revenue up 23.4% year-on-year. Geographically, Europe led with 37.9% growth, followed by North America at 15.4%. BFSI sector drove industry growth at 30% year-on-year. The company implemented merit increments for all global employees effective October 1, 2025, and promoted Jaideep Dhok to Chief Operating Officer. Total headcount reached 26,224, up 884 from the previous quarter, with trailing 12-month attrition improving to 13.8%. The company continues advancing its AI strategy through three core pillars: AI for Technology, AI for Business, and Enterprise Data Readiness for AI.