Persistent Systems reports $131million revenue with a growth of 3.1% Q-o-Q and 9.5% Y-o-Y for Q1FY21
PUNE, India and SANTA CLARA, California , July 25, 2020 /PRNewswire/ --
Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the quarter ended June 30, 2020, as approved by the Board of Directors.
Consolidated Financial Highlights for the Quarter ended June 30, 2020:
Christopher O'Connor, CEO & Executive Director, Persistent Systems
"In this quarter of the pandemic Persistent achieved 3.1% growth, cumulatively achieved by both business units. Client curiosity on digital solutions has never been higher, which enabled us to share our solutions broadly. The growth came on top of improved business operations."
Sandeep Kalra, Executive Director & President — Technology Services Unit, Persistent Systems
"Our strong year-over-year and quarter-over-quarter growth in Q1 was led by BFSI as it continues to be a standout, as does Cloud; the former recognizing the need for new ways of reaching customers digitally and the latter enabling this transformation across industries. The quarter gone by also saw us win a number of large deals with existing and new customers even in the face of the ongoing pandemic."
The 30th Annual General Meeting of the Company was held on Friday, July 24, 2020. All the proposed resolutions were approved by the shareholders. Mr. Prakash Telang and Mr. Kiran Umrootkar, Independent Directors of the Company retired from the Board upon completion of their term of ten years. The company expresses its deep gratitude for their contributions.
First Quarter FY21 Client Wins and Outcomes
Banking, Financial Services and Insurance
Healthcare & Life Sciences
Software and Hi-Tech
Covid-19 Aid Efforts
The Company has committed to contribute Rs.250M towards Covid-19 relief efforts globally. Of this amount, Rs.74M was contributed during the quarter by way of grants to organizations addressing the global pandemic.
India – Through the Persistent Foundation
About Persistent Systems
Persistent Systems (BSE: PERSISTENT) (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 www.persistent.com/FLCS
SOURCE Persistent Systems