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Persistent Systems Q1 FY18 Revenue Grew 3.6% and PAT 3.2% QoQ. Acquires European Salesforce Certified Platinum PartnerPUNE, India and SANTA CLARA, California, July 21, 2017 /PRNewswire/ -- Persistent Systems (BSE and NSE: PERSISTENT), today announced the Company's audited financial results for the first quarter ended June 30, 2017, as approved by the Board of Directors. (Logo: http://photos.prnewswire.com/prnh/20141106/714346 ) The Company also announced the acquisition of PARX, a Salesforce Certified Platinum Partner in Europe that focuses on its customers' business models, strategic and operational objectives. This marks a continuing global expansion for Persistent, which includes the recent openings of development centers in Mexico, Israel and new locations in the U.S. The acquisition of PARX follows last year's acquisition by Persistent of Australia's leading Salesforce consulting partner, PRM Cloud Solutions. Persistent is a Salesforce Certified Platinum Partner. Consolidated Financial Highlights for the Quarter ended June 30, 2017: (USD Million) Q1 FY18 QoQ growth YoY growth Revenue 112.97 3.6% 7.8% EBITDA 16.19 -12.1% -1.3% PBT 15.82 8.9% 5.3% PAT 11.65 3.2% 2.5% Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems: "Aggressive deployment of new technology is creating new opportunity for us as every business is exploring ways to become software driven. They are deploying IoT, Machine Learning, Bots, and Intelligent Process Automation which is evident from our recent wins. Our focus on data, digital, and IoT is helping us establish leadership in new technologies. We are deploying our Softwar 4.0 methods to help our customers compete with digital natives. We are delighted to welcome the PARX team to Persistent. They bring deep business domain understanding that complements our technology expertise and strengthens our presence in Europe." Key Wins during the Quarter: Adoption of IoT and new technologies
Business programs based on data and digital
Business Highlights and Awards:
About Persistent Systems: Persistent Systems (BSE and 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 Media Contacts: Isha Kulkarni Ken Montgomery SOURCE Persistent Systems |