Pune, India and Santa Clara, US

News Summary:

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the second quarter ended September 30, 2018, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2018:
Revenue (USD Million)118.23-4.3%0.1%
Revenue (INR Million)8,355.570.2%9.8%
EBITDA (INR Million)1,436.232.6%24.0%
PBT (INR Million)1,268.797.0%13.8%
PAT (INR Million)881.410.9%6.7%
Consolidated Financial Highlights for the Half-Year ended September 30, 2018:
Revenue (USD Million)241.834.7%
Revenue (INR Million)16,698.3812.1%
EBITDA (INR Million)2,836.6928.9%
PBT (INR Million)2,455.0415.0%
PAT (INR Million)1,754.8911.3%
Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:

“While our digital numbers are lower than expected, we see good growth opportunities across all segments of our business and multiple new projects started this quarter that will deliver long-term revenue growth. The shortfall in digital revenue can be attributed to short closure of one of our projects and a shift in the business mix as some projects moved offshore.

We continue to invest in new technologies and in enhancing domain and consulting skills in our customers’ geography as can be seen from the acquisition of Herald Health and the setting up of Partners Healthcare Pivot Labs.”

Highlights and Recognitions:
Customer and Partner Highlights
Key Wins during the Quarter:
  • Develop an analytics and visualization solution to enable data driven governance for a state government in India
  • Build a Customer Experience Management platform to provide customer insights critical to business and revenue generation for a Swedish industrial company
  • UI development and solutions testing and for a multinational networking and communications technology company headquartered in the US
  • Product engineering partner for a leading revenue management solutions company specialized in hospitality and travel
  • Technology partner to build multiple digital banking solutions around lending systems, loan origination and e-KYC services for a large US based bank
  • Intelligent automation of business processes to improve profitability using Blue Prism RPA platform for a US based financial services company
  • Selected as a technology partner to implement Blockchain technology for faster, simpler and cheaper land registration process
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:

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: FLCS

For more information, please contact:

Saviera Barretto
+84249 17719

Isha Kulkarni
Persistent Systems
+91 86696 70068

Ken Montgomery
Persistent Systems
+1 213 500 8355