Persistent Systems advances after Q2 numbers

Persistent Systems rose 1.03% to Rs 604.25 after consolidated net profit rose 4.36% to Rs 86.07 crore on 6.30% increase in net sales to Rs 884.60 crore in Q2 September 2019 over Q1 June 2019.

Consolidated EBITDA grew 1.2% to Rs 121.64 crore in Q2 September 2019 as against Q1 June 2019. The result was announced after market hours yesterday, 4 November 2019.

However, consolidated net profit fell 2.3% to Rs 86.07 crore on 5.9% rise in net sales to Rs 884.60 crore in Q2 September 2019 over Q2 September 2018.

Commenting on the results, Christopher O'Connor, the CEO and Executive Director of Persistent Systems, had stated that, "We've been relentless in helping our customers see beyond their current needs. Our focus is on creating organic growth across the board and releasing constraints in our business processes. This quarters work included positioning our brand for customer recognition and success. We see positive outcomes from this focus and intend to be even more agile in addressing our customers' needs and their business, ultimately helping them rise above their competition."

Persistent Systems offers complete product life cycle services. The company's segments include infrastructure and systems, telecom and wireless, life science and healthcare, and financial services.

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