Persistent Systems reported another strong quarter, with 2.2% quarter-on-quarter growth in dollar revenue and 5.6% rise in profit after tax.
The company, which provides software product related services, is one of the few that has lived up to Street expectations, especially in the mid-cap IT space.
“We have delivered another strong quarter with 3.8% Q-o-Q growth in services and improved operational efficiencies. Our continued investment in technology has helped us establish leadership position in the Social, Mobile, Analytics, Cloud space,” said Dr. Anand Deshpande, Chairman, Managing Director and CEO, Persistent Systems.
“We continue to focus on products and IP-led revenue, tracking new industry trends, and encouraging innovative ideas that solve real-world problems.”
Persistent Systems reported a revenue of 69.94 Million, representing a Y-o-Y growth of 15.1%. In rupee terms, revenue was 4,327.57 mln, up 30.0% year on year. Quarter on quarter growth was only 0.1% due to the appreciation in the value of the rupee.
EBIDTA was Rs 1,197.25 million, up 45.3% year on year and 6.7% on quarter.
Profit before Tax (PBT) was INR 865.27 million, up 21.9% year on year.
Profit after Tax (PAT) came in at INR 641.98 Million, representing a Y-o-Y growth of 29.7% and Q-o-Q growth of 5.6%.