Persistent Systems reports 2.3% increase in net profit in Q2FY16

PUNE: Persistent Systems reported revenues of $105.18mn for the quarter ended 30th September, 2016, a 26.8% increase year on year, and a marginal rise of 0.4% over the previous quarter. In rupee terms, the revenues were Rs 704.0 cr, a rise of 29.7% year on year and 0.3% sequentially.

Profit after tax for the period stood at RS 73.4 cr, up 2.3% year on year and 0.3% sequentially.

The EBITDA for the period was Rs 110.7 cr, up 8.9% over the corresponding quarter last year and up 4.8% sequentially. Anand Deshpande, CMD, Persistent Systems said, "Our focus on the how of digital continues to drive momentum with customers who are co-innovating with us to craft new software driven experiences.

Growing recognition from customers, partners and industry analysts further validates continuous transformation by design as the way to be a software-driven or digital business. We believe that our strategy of enhanced focus on IP-driven and digital business will result in continued growth of the company as we respond to changing market conditions.”