**Title:** Persistent Systems Surpasses Hexaware in IT Revenue Rankings
**Meta Description:** Persistent Systems outperformed Hexaware in Q1 2025, marking a significant shift in India’s IT sector rankings.
**URL Slug:** persistent-systems-hexaware-it-revenue
**Headline:** Persistent Systems Overtakes Hexaware in Latest IT Revenue Rankings
In a competitive landscape, India’s mid-cap IT companies are fiercely vying for market share, with Persistent Systems recently surpassing Hexaware Technologies in revenue for the January-March 2025 quarter. Persistent Systems reported a revenue increase of 4.2%, reaching $375.2 million, while Hexaware experienced a slight decline of 0.2%, bringing its revenue to $371.5 million. This shift positions Persistent Systems as the ninth-largest IT services firm in the country, highlighting the dynamic nature of the $283 billion Indian IT industry.
This change marks the fourth adjustment in the rankings within a year, showcasing the ongoing competition among IT firms. The leading four companies—Tata Consultancy Services, Infosys, HCL Technologies, and Wipro—continue to dominate, collectively accounting for 26% of the industry. Following them are Tech Mahindra and LTIMindtree, with Mphasis and Coforge also making significant strides.
Persistent Systems’ recent performance has garnered attention from investors and clients alike, as it climbs the ranks. This is not the first instance of a reshuffle; since HCL Technologies surpassed Wipro in 2018, the revenue standings have remained relatively stable. However, recent months have seen increased volatility, with Infosys briefly overtaking Cognizant Technology Solutions as the second-largest IT services provider in October, only for Cognizant to reclaim its position shortly thereafter.
It’s important to note that Hexaware and Cognizant operate on a calendar year for financial reporting, while most Indian IT firms follow an April-March fiscal year. This difference can impact revenue comparisons and rankings.
In a notable development, Coforge has also made significant progress, moving from ninth to eighth place in the IT services rankings after reporting $397 million in revenue for the December quarter. This growth was bolstered by its acquisition of Cigniti Technologies, enhancing its capabilities in AI and digital assurance services.
As the IT sector continues to evolve, these shifts in revenue rankings reflect the competitive nature of the industry and the ongoing efforts of companies to innovate and expand their market presence.
**FAQ:**
**Q: What recent changes occurred in the rankings of Indian IT companies?**
A: Persistent Systems recently surpassed Hexaware in revenue, becoming the ninth-largest IT services firm in India, while Coforge moved up to eighth place, reflecting ongoing competition in the sector.
