Persistent Systems reports 12.4% increase in net in Q2

Pune: Persistent Systems reported a profit after tax of Rs 82.6 cr for the quarter ended 30th Sept, 2017, up 10% sequentially and 12.4% over the previous year.

The revenue for the period was up 4.6% sequentially at Rs 761.25 cr, and up 8.1% over the corresponding quarter last year. In dollar terms, revenue was up 4.5% sequentially at $118 mn, an increase of 12.3% over the previous year.

Anand Deshpande, Managing Director, Persistent Systems, said, “We are pleased with our performance this quarter, 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. Our methodology, Software 4.0 is helping our customers accelerate their journey towards becoming a software driven business. Encouraged by the splendid response to the inaugural edition, we are delighted to launch Smart India Hackathon 2018. Smart India Hackathon, which started as a simple idea sparked at Persistent Systems has now evolved into a nationwide movement.”