Advertisment

Persistent Systems reports $131 million revenue with a growth of 3.1%

Persistent Systems has announced the Company’s audited financial results for the quarter ended June 30, 2020, as approved by the Board of Directors.

author-image
DQC Bureau
Updated On
New Update
server market

Persistent Systems has announced the Company’s audited financial results for the quarter ended June 30, 2020, as approved by the Board of Directors.

Advertisment

Consolidated Financial Highlights for the Quarter ended June 30, 2020:

Q1FY21 Q-o-Q Growth Y-o-Y Growth
Revenue (INR Million) 9,913.85 7.0% 19.1%
EBITDA (INR Million) 1,464.36 14.7% 21.8%
PBT (INR Million) 1,220.44 8.0% 11.2%
PAT (INR Million) 900.08 7.4% 9.1%
Revenue (USD Million) 131.02 3.1% 9.5%

“In this quarter of the pandemic, Persistent achieved 3.1% growth, cumulatively achieved by both business units. Client curiosity on digital solutions has never been higher, which enabled us to share our solutions broadly. The growth came on top of improved business operations,” Sandeep Kalra, Executive Director & President — Technology Services Unit, Persistent Systems

“Our strong year-over-year and quarter-over-quarter growth in Q1 was led by BFSI as it continues to be a standout, as does Cloud; the former recognizing the need for new ways of reaching customers digitally and the latter enabling this transformation across industries. The quarter gone by also saw us win a number of large deals with existing and new customers even in the face of the ongoing pandemic.”

The 30th Annual General Meeting of the Company was held on Friday, July 24, 2020. All the proposed resolutions were approved by the shareholders. Mr. Prakash Telang and Mr. Kiran Umrootkar, Independent Directors of the Company retired from the Board upon completion of their term of ten years. The company expresses its deep gratitude for their contributions.

Advertisment