TMCnet News
Persistent Systems Q2 FY16 Revenue Grows Sequentially 8.5% to INR 5,427 Million and PAT Grows Sequentially 6.9% to INR 718 MillionPUNE, India and SANTA CLARA, California, October 26, 2015 /PRNewswire/ -- News Summary: Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the second quarter ended September 30, 2015, as approved by the Board of Directors. (Logo: http://photos.prnewswire.com/prnh/20141106/714346) Executive Quote: "We are focused on partnering with our customers on the "how" of their digital transformation. This focus is making us more relevant and strategic to our platform partners leading to our joint solutions getting called out in their major launch announcements. Our strategy continues to gain traction with enterprise customers," said Dr. Anand Deshpande, Managing Director and CEO, Persistent Systems. "It was an exceptionally good quarter for new business and we added the highest number of new logos during this quarter," he added. Consolidated Financial Highlights for the Quarter ended September 30, 2015: Q2 FY16 Q1 FY16 Q-o-Q growth Revenue (USD Million) 82.96 78.61 5.5% Revenue (INR Million) 5,427.31 5,004.16 8.5% EBITDA (INR Million) 1,017.51 969.08 5.0% PBT (INR Million) 963.83 940.10 2.5% PAT (INR Million) 718.49 672.16 6.9% Consolidated Financial Highlights for the half year ended September 30, 2015: H1 FY16 H1 FY15 Y-o-Y growth Revenue (USD Million) 161.57 148.98 8.5% Revenue (INR Million) 10,431.47 8,991.61 16.0% EBITDA (INR Million) 1,986.59 1,905.71 4.2% PBT (INR Million) 1,903.93 1,947.92 -2.3% PAT (INR Million) 1,390.65 1,401.19 -0.8% Corporate Announcements:
Partner and Customer Momentum Focused on the "How" of Digital The Company contined to focus on servicing enterprise customers. A strong partner ecosystem has been integral to the strategy. A lot of our partners recognize our solutions built with them:
We signed up new customers with our ability to bring digital transformation across industries:
"With digital, we see our customers embracing higher expectations around experience design. Like it has been with companies that build software products, we see agile and iterative also becoming the dominant discipline for digital transformation. With our track record of helping companies in the business of software, I am excited by both the market opportunity and opportunity to accelerate growth for Persistent based on bringing our unique strength to enterprises that are becoming software driven," said Sudhir Kulkarni, Global Head of Sales and Marketing. Continue a Culture of Innovation Our employees engaged actively in the communities in which we operate
"Since Anand founded Persistent 25 years ago, we have had a culture of innovation. We are taking our innovation culture to global locations via hackathons, building real solutions with stakeholders. We are recognized for our innovations for providing a 360 degree digital experience to our employees," said Mritunjay Singh, Executive Director & Chief Operating Officer. 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 Media Contacts: Ken Montgomery SOURCE Persistent Systems Ltd. 
|