Persistent Systems Q2 net profit up 12.4 pc to Rs 82.62 cr

IT firm Persistent Systems today said its net profit increased by 12.4 per cent to Rs 82.62 crore for the quarter ended September 30.
This is against a net profit of Rs 73.49 crore for the same quarter last year, the company said in a BSE filing.
Its revenues grew 8.1 per cent to Rs 761.25 crore in the quarter under review from Rs 704 crore in the July-September 2016 period.
In dollar terms, the company's revenue was up 12.3 per cent to USD 118.10 million.
"...we have seen continued and steady growth in our revenues supported by improved margins. We see strong demand in data, digital and IoT, specifically in healthcare and financial services," Persistent Systems Chairman and Managing Director Anand Deshpande said.

Services revenues stood at USD 87.34 million, while IP- led revenues were at USD 30.76 million in the reported quarter.
North Americas accounted for 83.4 per cent of the company's revenues, while Europe, India and rest of world accounted for 8.5 per cent, 5.6 per cent and 2.5 per cent, respectively.
Persistent Systems had 9,246 employees at the end of the first quarter. Its attrition rate stood at 15.5 per cent.