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Persistent Q4 profit slips 20% QoQ on seasonal IP weakness

On a year on year basis the company saw revenue grow 3.5 per cent and profits grow by 1.3 per cent beating street estimates. Dollar revenue grew 7.3 per cent to $116.95 million in Q4

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Persistent Systems

Romita Majumdar  |  Mumbai 

IT Midcap Persistent Systems posted 5 per cent dip in sequential revenue to Rs 7.5 billion and 19.6 per cent dip in profit over the same period to Rs 737 million for the fourth quarter. On a year on year basis the company saw revenue grow 3.5 per cent and profits grow by 1.3 per cent beating street estimates.

Dollar revenue grew 7.3 per cent to $116.95 million in Q4. The company took a 20.6 per cent hit on its IP led revenue over the past quarter. Last month Persistent's shares crashed almost 10 per cent after the company said Intellectual property (IP) based revenues were ...

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First Published: Tue, April 24 2018. 20:03 IST
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