Persistent Systems reports 5.9% growth in revenue for FY20, crosses a half billion-dollar milestone

 In Press Release – 2020, Press Releases

Pune, India and Santa Clara, US – May 5, 2020:

News Summary:

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the quarter and year ended March 31, 2020, as approved by the Board of Directors. For the first time, the company crossed the important half a billion dollar revenue milestone.

Consolidated Financial Highlights for the Financial Year 2019-20:

FY20FY19Y-o-Y growth
Revenue (INR Million)35,658.0833,659.415.9%
EBITDA (INR Million)4,929.545,805.36-15.1%
PBT (INR Million)4,523.424,863.39-7.0%
PAT (INR Million)3,402.893,516.79-3.2%
Revenue (USD Million)501.61480.974.3%

Consolidated Financial Highlights for the Quarter ended March 31, 2020:

Q4 FY20Q-o-Q growthY-o-Y growth
Revenue (INR Million)9,263.650.4%11.4%
EBITDA (INR Million)1,276.853.4%0.9%
PBT (INR Million)1,130.43-0.8%1.6%
PAT (INR Million)838.21-4.7%-0.8%
Revenue (USD Million)127.05-1.8%7.4%

Christopher O’Connor, CEO & Executive Director, Persistent Systems

“We closed FY20 very strong, for the first time in Persistent’s history crossing the half billion-dollar mark in revenue. We had particular strength in our Technology Services Unit, which delivered a robust quarter driven through solid expansion. We continued a strong expansion of new logos across the business. While Covid-19 is presenting challenges, it is also unearthing business opportunities as every organization now understands that the status quo is not a viable option. Our prescient adoption of cloud technologies internally allowed us to enable more than 99% of our employees to work from home within the first week. This helped us ensure business continuity for our customers. This is a testament of the dedication, spirit and values of everyone here at Persistent.”

Sandeep Kalra, Executive Director and President – Technology Services Unit, Persistent Systems

“We saw secular growth across our top customers, in particular across BFSI and Software & Hi-tech industry segments. We’re delivering differentiated value to our clients by anticipating what they need beyond their current requirements, tapping the best expertise from across Persistent. This combined with our continued recognition by industry analysts including Zinnov, ISG and Constellation is leading to positive traction in new and existing accounts and increased deals, deal sizes.”

Persistent also announced a contribution of Rs. 25 Crores ($3.3M) in support of COVID-19 efforts globally.

Highlights of Q4FY20

Client Wins & Outcomes

Recognition and Other News

About Persistent Systems:

Persistent Systems (BSE & NSE: PERSISTENT) is a global solutions company delivering digital business acceleration, enterprise modernization and digital product engineering for businesses across all industries and geographies.

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

Media Contacts:

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

Saviera Barretto
+91 84249 17719

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