Persistent Systems reports Q1 PAT at Rs 75 crore

Pune: Persistent Systems reported a profit after tax of Rs 75cr for the quarter ended 30th June 2017, up 2.5% over the corresponding quarter last year and up 3.2% sequentially. Total revenues for the period stood at Rs 728.01 cr, up 3.7% year-on-year and 0.1% over the previous quarter. In dollar terms, total revenue was $112.97mn, up 7.8% over the past year and 3.6% over the previous quarter.

Anand Deshpande, Managing Director, Persistent Systems said, “Aggressive deployment of new technology is creating new opportunity for us as every business is exploring ways to become software driven. They are deploying IoT, Machine Learning, Bots, and Intelligent Process Automation which is evident from our recent wins. Our focus on data, digital, and IoT is helping us establish leadership in new technologies. We are deploying our Software 4.0 methods to help our customers compete with digital natives.”

The EBITDA for the quarter declined by 1.3% over the previous year to Rs 101.94cr, down 12.1% sequentially.