Persistent Systems expects better H2

PUNE: Persistent Systems’ chairman Anand Deshpande said he expects the second half of the year to be better because of the nature of the deals the company has signed.

The company reported $105.18 million revenue for the quarter ended September 30, a 26.8% increase from a year ago and 0.4% higher from the previous quarter.

“This has been a flat quarter, in line with our expectations. We are working on new launches and participating in various events over the next few weeks which would have an impact in Q4FY17,” Deshpande said. “We are also more focused on year-on-year growth rather than quarter-on-quarter.”

The dollar revenues for the first half of FY17 grew by 29.9% and Deshpande told ETthat he expects H2 to be better because of the nature of the deals that have been signed.

He, however, did not share any details of the nature of these deals.

In rupee terms, revenue stood at Rs 704.0 crore, a rise of 29.7% year-on-year and 0.3% up sequentially. Profit after tax for the period stood at Rs 73.4 crore, up 2.3% from a year ago and 0.3% up sequentially.

The EBITDA for the period was Rs 110.7 crore, up 8.9% over the corresponding quarter of the previous year and up 4.8% sequentially.