Persistent Systems reports Q3 FY19 QoQ Revenue Growth of 2.2%; announces Buy-Back and Interim Dividend 

 In Press Release – 2019, Press Releases

Pune, India and Santa Clara, US – January 28, 2019

News Summary:
Persistent Systems, (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the third quarter ended December 31, 2018, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended December 31, 2018:

Q3 FY19 Q-o-Q growth Y-o-Y growth
Revenue (USD Million) 120.84 2.2% -1.4%
Revenue (₹ Million) 8,642.49 3.4% 9.1%
EBITDA (₹ Million) 1,703.17 18.6% 23.9%
PBT (₹ Million) 1,295.21 2.1% 10.2%
PAT (₹ Million) 917.17 4.1% 0.1%

Consolidated Financial Highlights YTD December 31, 2018:

YTD Dec 2018 YTD Dec 2017 Y-o-Y growth
Revenue (USD Million) 362.67 353.60 2.6%
Revenue (₹ Million) 25,340.87 22,811.57 11.1%
EBITDA (₹ Million) 4,539.86 3,576.57 26.9%
PBT (₹ Million) 3,750.25 3,309.12 13.3%
PAT (₹ Million) 2,672.06 2,493.82 7.1%

Share Buy-back:
The Board of Directors, at its meeting concluded on January 28, 2019, approved buy-back of equity shares under open market route for an aggregate amount not exceeding ₹2,250 million (10% of net worth) at a maximum buy-back price not exceeding ₹750 per share.

The Board of Directors, at its meeting concluded on January 28, 2019, declared interim dividend of ₹8 per share on the face value of ₹10 each for the Financial Year 2018-19.

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:
Our teams continue to leverage our Software 4.0 offering for incremental and iterative development. Enterprises are integrating applications through APIs by bringing internal data, external data and events together, building insights that are actionable. Machine Learning has become mainstream as customers move beyond dashboards to task centric actionable insights that are embedding Intelligence in applications. Businesses continue to march on their journey to become software driven which is helping us win customers.

Riding high on the splendid response from last year’s Smart India Hackathon, the third edition has been launched, with the finale for the Software edition slated for March 2019. We hope this movement continues to provide students a platform to harness the true potential of technology for nation-building.

Highlights and Recognition:

Customer and Partner Highlights: (Customers speak)

Key Wins during the quarter:

  • Improving customer reach through enhanced digital experiences for a US-based financial products and services company
  • Designing and development of tools for effective cash management implementation for one of the largest global investment banking enterprises
  • Developing a cloud-based loan application system for a US-based bank
  • Building an end-to-end portfolio management platform on OutSystems for a cloud-based credit management technology solutions provider in the United States
  • Migrating of legacy CRM to Salesforce for a health and wellness provider
  • Product engineering partner for an e-commerce giant – helping them to migrate their live digital assets and users, upon completion of crucial M&A activity

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 FLCS

Media Contacts:

Saviera Barretto
+91 84249 17719

Jayashree Sridharan
Persistent Systems
+91 86696 70068

Ken Montgomery
Persistent Systems (US)
+1 213 500 8355

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