Persistent Systems reports Q2 FY17 revenue grew at 26.8% YoY

Pune, India and Santa Clara, US – October 22, 2016

News Summary:
Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the second quarter ended September 30, 2016, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2016:

Q2 FY17 QoQ growth YoY growth
Revenue (USD Million) 105.18 0.4% 26.8%
Revenue (INR Million) 7,040.19 0.3% 29.7%
EBITDA (INR Million) 1,107.79 4.8% 8.9%
PBT (INR Million) 984.44 1.7% 2.1%
PAT (INR Million) 734.93 0.3% 2.3%

Consolidated Financial Highlights for the Half-Year ended September 30, 2016:

H1 FY17 Y-o-Y growth
Revenue (USD Million) 209.94 29.9%
Revenue (INR Million) 14,057.96 34.8%
EBITDA (INR Million) 2,165.31 9.0%
PBT (INR Million) 1,952.44 2.5%
PAT (INR Million) 1,467.79 5.5%

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:

“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.”

Business Highlights:

Awards and Recognition:

  • Featured for the first time in Consulting magazine’s ‘Fastest Growing Firms’ based on our growing presence in the Enterprise segment
  • In the ‘Zinnov Zones 2016 – IoT Technology Services’ Report, Persistent is included in the Leadership Zone for ‘Software Platform Engineering & Management’ and ‘Engineering Analytics & Decision Sciences’
  • Recognized at the Oracle Excellence Awards 2016 as a specialised partner for security
  • Received ISO 14064-1:2006 (Green House Gases emission verification) certification for all facilities in India for the financial year 2015-16 by the American Global Standards
  • Recognized by the Association for Talent Development in the 2016 BEST Awards for demonstrating enterprise-wide success through talent development
  • Dr. Anand Deshpande appointed as part-time member of the UIDAI

New Wins during the Quarter:

  • Build new digital experiences for HR and vendor on-boarding, for a multibillion-dollar global multinational in medical devices and pharmaceuticals
  • Develop an application and API architecture for actionable insights and to bring speed to digital transformation for a global mass media corporation
  • A digital payment solution using an API-based framework for a US health technology provider
  • Strategic partnership with a US based leader in financial software and services positions Persistent amongst its top three strategic partners

About Persistent Systems:

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit:
http://content.persistent.com/Pslweb/forward_looking_cautionary_statement.shtml

For more information, please contact:

Ken Montgomery
Persistent Systems
Vice President, Global Communications
Tel: +1-949-939-5164
Email: ken_montgomery@persistent.com

Pratyush P
Persistent Systems
Tel: +91 982 225 1258
Email: pratyush_p@persistent.com

Hitesh Garg
Text100
Tel: +91-9833482728
Email: Hitesh.garg@text100.co.in

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