Persistent Q2 net profit slightly up at Rs 71.84 crore Q-o-Q
Manjiri Meshram / 26 Oct 2015
Recently, Persistent posted its consolidated quarter end and half year ending September 30, 2015 results. The Dollar Revenue (USD Million) stood at USD 82.96 million as compared to USD 78.61 million, which rose by 5.5 per cent on quarterly basis. The INR Revenue rose by 8.5 per cent to Rs 542.73 crore in Q2FY16 against Rs 500.42 in Q1FY16. EBITDA increased by 5 per cent to Rs 101.75 crore compared to Rs 96.9 crore Q-o-Q basis.
Persistent systems is a software product and technology innovation company. The company operates in three business segments: infrastructure & system, telecom & wireless and life science and healthcare.
Recently, Persistent posted its consolidated quarter end and half year ending September 30, 2015 results. The Dollar Revenue (USD Million) stood at USD 82.96 million as compared to USD 78.61 million, which rose by 5.5 per cent on quarterly basis. The INR Revenue rose by 8.5 per cent to Rs 542.73 crore in Q2FY16 against Rs 500.42 in Q1FY16. EBITDA increased by 5 per cent to Rs 101.75 crore compared to Rs 96.9 crore Q-o-Q basis. Profit Before Taxes (PBT) grew by 2.5 per cent to Rs 96.38 crore, Net Profit of persistent grew by 6.9 per cent to Rs 71.84 crore in Q2FY16 as against Rs 67.2 crore in Q1FY16
.In the half yearly results, the Dollar revenue stood at USD 161.57 million , increased by 8.5 per cent. The INR revenue stood at Rs 1043.15 crore in Q2FY16 against Rs 190.57 crore in Q2FY15, rose by 16 per cent. The EBITDA increased by 4.2 per cent to Rs 198.66 crore on yearly basis. PBT decreased by 2.3 per cent to Rs 190.3 crore. The Net Profit of the company marginally reduced by 0.8 per cent to Rs 139.06 crore in Q2Fy16 as compared to Rs 140.1 crore.
It was a good quarter for new business for the company and persistent added the highest number of new logos during this quarter. Also in this quarter the company continued to focus on servicing enterprise customers.
“We are focused on partnering with our customers on the “how” of their digital transformation. This focus is making us more relevant and strategic to our platform partners leading to our joint solutions getting called out in their major launch announcements. Our strategy continues to gain traction with enterprise customers,” said Dr. Anand Deshpande, Managing Director and CEO, Persistent Systems.
The Company hosted India’s first joint public / private hackathon ‘Digital Pune Hackathon 2015’ in association with i4C and over 25 government bodies and also hosted the “Digital Ohio” Hackathon in its Columbus, OH development center.
The FII holdings reduced by 374 basis points to 16.61 per cent, DII holdings increased by 75 basis points to 11.75 per cent as on 30th September 2015. Today, Persistent is trading at Rs 669, around 1 per cent higher.
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