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The statutory auditors have expressed an unmodified audit opinion. The information presented above is extracted from the audited condensed interim conso. financial statements. 2.The above consolidated financial results have been prepared from the condensed interim conso. financial statements, which are prepared in accordance with Ind AS, the provisions of Companies Act, 2013, as applicable and guidelines issued by the SEBI. The Ind AS are prescribed under Sec 133 of the Companies Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and amendments issued thereafter. All amounts included in the conso. financial results (including notes) are reported in millions of Indian rupees except share and per share data, unless otherwise stated. 3. The BTA had been executed for the transfer of business of the Australian Branch of the Company to the Persistent Systems Australia Pty Limited (WOS) effective from Oct 1, 2023. 4.The 100% shareholding of Persistent Systems Australia Pty Limited (SDS) has been transferred from CAPIOT Software Inc (SDS) to Persistent Systems Inc (WOS) via Share Transfer executed on Dec. 20, 2023 to rationalize and simplify the group structure. 5.CAPIOT Software, Inc. (SDS) has been dissolved effective from Dec. 29, 2023, pursuant to the Certificate of Dissolution issued by the Secretary of the State of Delaware on Jan 16, 2024. 6.The Board declared an interim dividend of INR 32 per equity share of the FV of INR 10 each for the FY23-24 on Jan 20, 2024. The Record Date for the payment of the dividend will be Jan 30, 2024. The payment of the interim dividend will be made within the prescribed time as per the provisions of the Companies Act, 2013. 7.The Board approved the issuance of 1,000,000 Equity Shares of INR 10 each to the PSPL ESOP Management Trust in multiple tranches and authorized the Stakeholders Relationship and ESG Committee to allot the said Equity Shares at the respective exercise price of the underlying options. 8.The Board approved the Merger of CAPIOT Software Private Limited (WOS) into Persistent Systems Limited (Holding Company) through NCLT route, subject to the receipt of necessary approvals. 9.The Board approved the sub-division/ split of 1 fully paid-up Equity Share having a FV of INR 10 each, into 2 Equity Shares of FV of INR 5 per Equity Share by alteration of Capital Clause of the MOA of the Company, subject to the approval of the Members of the Company. 10.In respect of export incentives pertaining to previous periods amounting to INR 255.52 million, which have been refunded under protest with interest of INR 41.03 million, aggregating to INR 296.55 million, the Company had filed an application with Directorate General of Foreign Trade. The Company believes that its services were eligible for the export incentives and the dispute is purely an interpretation issue given the highly technical nature. With the intention of avoiding litigation and settling the dispute, the Company had applied before the Settlement Commission for settlement of the case and had offered to forego INR 296.55 million. The Company had recognized a provision of INR 296.55 million for Qtr ended 31 Dec 2022, which was presented as an exceptional item in the statement of profit and loss for that period. During the Qtr, the Settlement Commission has approved the Company’s application and has settled the liability of INR 296.55 million including interest. As the amount has already been provided for in full by the Company, no further adjustment is necessary in these results. 11.In accordance with para 4 of notified Ind AS-108 “Operating Segments”, the Company has disclosed segment information only on the basis of consolidated financial results. Multi segment 2023-04-01 2023-12-31 Audited Consolidated 72310610000.00 972370000.00 73282980000.00 0.00 0.00 0.00 52166830000.00 369920000.00 2294560000.00 7930530000.00 62761840000.00 10521140000.00 0.00 10521140000.00 2995050000.00 -255610000.00 2739440000.00 0.00 7781700000.00 0.00 0.00 0.00 0.00 7781700000.00 127630000.00 7909330000.00 7781700000.00 0.00 127630000.00 0.00 769250000.00 10 103.37 101.17 0.00 0.00 103.37 101.17 0.00 0.02 0.00 Advertisement, conference and sponsorship fees 55680000.00 Allowance for expected credit loss (net) 50540000.00 Legal and professional fees 183410000.00 Miscellaneous expenses 137470000.00 Other Expenses 331750000.00 Purchase of software licenses 1304230000.00 Recruitment expenses 59070000.00 Rent 39160000.00 Training and seminars 37130000.00 Travelling and conveyance 269780000.00 Advertisement, conference and sponsorship fees 161480000.00 Allowance for expected credit loss (net) 151440000.00 Legal and professional fees 809910000.00 Miscellaneous expenses 552230000.00 Other Expenses 645140000.00 Purchase of software licenses 4098600000.00 Recruitment expenses 180320000.00 Rent 117740000.00 Training and seminars 120830000.00 Travelling and conveyance 1092840000.00 Banking, Financial Services and Insurance (BFSI) 7786310000.00 Healthcare & Life Sciences 5447970000.00 Software, Hi-Tech and Emerging Industries 11747880000.00 Banking, Financial Services and Insurance (BFSI) 23314760000.00 Healthcare & Life Sciences 14414360000.00 Software, Hi-Tech and Emerging Industries 34581490000.00 24982160000.00 72310610000.00 0.00 0.00 24982160000.00 72310610000.00 Banking, Financial Services and Insurance (BFSI) 2657840000.00 Healthcare & Life Sciences 1979290000.00 Software, Hi-Tech and Emerging Industries 3497800000.00 Banking, Financial Services and Insurance (BFSI) 8643390000.00 Healthcare & Life Sciences 6224820000.00 Software, Hi-Tech and Emerging Industries 9020530000.00 8134930000.00 23888740000.00 121120000.00 369920000.00 4120800000.00 1.The audited condensed interim consolidated financial statements as of Dec 31, 2023, have been taken on record by the Board at its meeting held on Jan 20, 2024 as recommended by the Audit Committee at its meeting held on Jan 19, 2024. The statutory auditors have expressed an unmodified audit opinion. The information presented above is extracted from the audited condensed interim conso. financial statements. 2.The above consolidated financial results have been prepared from the condensed interim conso. financial statements, which are prepared in accordance with Ind AS, the provisions of Companies Act, 2013, as applicable and guidelines issued by the SEBI. The Ind AS are prescribed under Sec 133 of the Companies Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and amendments issued thereafter. All amounts included in the conso. financial results (including notes) are reported in millions of Indian rupees except share and per share data, unless otherwise stated. 3. The BTA had been executed for the transfer of business of the Australian Branch of the Company to the Persistent Systems Australia Pty Limited (WOS) effective from Oct 1, 2023. 4.The 100% shareholding of Persistent Systems Australia Pty Limited (SDS) has been transferred from CAPIOT Software Inc (SDS) to Persistent Systems Inc (WOS) via Share Transfer executed on Dec. 20, 2023 to rationalize and simplify the group structure. 5.CAPIOT Software, Inc. (SDS) has been dissolved effective from Dec. 29, 2023, pursuant to the Certificate of Dissolution issued by the Secretary of the State of Delaware on Jan 16, 2024. 6.The Board declared an interim dividend of INR 32 per equity share of the FV of INR 10 each for the FY23-24 on Jan 20, 2024. The Record Date for the payment of the dividend will be Jan 30, 2024. The payment of the interim dividend will be made within the prescribed time as per the provisions of the Companies Act, 2013. 7.The Board approved the issuance of 1,000,000 Equity Shares of INR 10 each to the PSPL ESOP Management Trust in multiple tranches and authorized the Stakeholders Relationship and ESG Committee to allot the said Equity Shares at the respective exercise price of the underlying options. 8.The Board approved the Merger of CAPIOT Software Private Limited (WOS) into Persistent Systems Limited (Holding Company) through NCLT route, subject to the receipt of necessary approvals. 9.The Board approved the sub-division/ split of 1 fully paid-up Equity Share having a FV of INR 10 each, into 2 Equity Shares of FV of INR 5 per Equity Share by alteration of Capital Clause of the MOA of the Company, subject to the approval of the Members of the Company. 10.In respect of export incentives pertaining to previous periods amounting to INR 255.52 million, which have been refunded under protest with interest of INR 41.03 million, aggregating to INR 296.55 million, the Company had filed an application with Directorate General of Foreign Trade. The Company believes that its services were eligible for the export incentives and the dispute is purely an interpretation issue given the highly technical nature. With the intention of avoiding litigation and settling the dispute, the Company had applied before the Settlement Commission for settlement of the case and had offered to forego INR 296.55 million. The Company had recognized a provision of INR 296.55 million for Qtr ended 31 Dec 2022, which was presented as an exceptional item in the statement of profit and loss for that period. During the Qtr, the Settlement Commission has approved the Company’s application and has settled the liability of INR 296.55 million including interest. As the amount has already been provided for in full by the Company, no further adjustment is necessary in these results. 11.In accordance with para 4 of notified Ind AS-108 “Operating Segments”, the Company has disclosed segment information only on the basis of consolidated financial results. 12997680000.00 3893010000.00 10521140000.00 Banking, Financial Services and Insurance (BFSI) 5636770000.00 Healthcare & Life Sciences 4691950000.00 Software, Hi-Tech and Emerging Industries 13028530000.00 23357250000.00 48781160000.00 72138410000.00 Banking, Financial Services and Insurance (BFSI) 0.00 Healthcare & Life Sciences 0.00 Software, Hi-Tech and Emerging Industries 0.00 0.00 72138410000.00 72138410000.00 Remeasurements of the defined benefit liabilities / asset -15730000.00 Remeasurements of the defined benefit liabilities / asset -34060000.00 -15730000.00 -34060000.00 -1050000.00 -5660000.00 Effective portion of cash flow hedge 27620000.00 Exchange differences in translating the financial statements of foreign operations -1250840000.00 Effective portion of cash flow hedge 32860000.00 Exchange differences in translating the financial statements of foreign operations 129990000.00 -1223220000.00 162850000.00 6550000.00 6820000.00