Persistent Systems Q1 net rises 9% to Rs 73 cr

EBITDA declined 1.4% to Rs 106 cr q-o-q

Pune-based mid-sized software services exporter Persistent Systems Ltd on Saturday said its profit after tax (PAT) for the quarter ended June 30 rose 9% to Rs 73.2 crore compared to year-ago period. Revenue in the quarter increased 40.2% to Rs 701.7 crore over last year.

On a sequential basis, its PAT went down 9.3%, while revenue increased 3.6%. In dollar terms, revenue rose 33.3% to $104.76 million from a year ago and by 4.3% sequentially.

EBITDA (Earnings before interest, taxes, depreciation and amortization) for the first quarter of the financial year rose 9.1% to Rs 105.7 crore year-on-year, while it was down 1.5% over the last quarter.

“Software-driven everything is the next Industrial Revolution. With business models and things becoming software-driven, our expertise in DevOps and continuous engineering are proving prescient and more important than ever. Software 4.0, with agile at its core, is how enterprises can continuously transform by design," said Anand Deshpande, Chairman and Managing Director, Persistent Systems. 

Sharpening its focus on cloud business, the company launched CloudPlatform 4.7 to support new capabilities in computing, networking and operations as well as CloudSense, a full stack private or public hosted cloud for enterprises and service providers with similar capabilities of leading public clouds.