Persistent Systems Q2FY15 Revenue Grows Sequentially 6.7% to INR 4,642 Million and PAT Grows to INR 713 Million

PUNE, India and SANTA CLARA, California, October 21, 2014 /PRNewswire/ --

News Summary: 

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the quarter ended Sep 30, 2014, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2014: 

   
    Particulars            Q2 FY15            Q-o-Q growth   Y-o-Y growth


    Revenue           USD 76.32 Million          5.0%          11.5%
                   INR 4,641.74 Million          6.7%           7.4%
    PBT              INR 993.77 Million          4.2%          19.0%
    PAT              INR 713.15 Million          3.6%          17.3%

Consolidated Financial Highlights for the half year ended September 30, 2014:

   
    Particulars      H1 FY15                      H1 FY14             Growth %


    Revenue            USD 148.98 Million       USD 131.48 Million     13.3%
                     INR 8,991.61 Million     INR 7,896.59 Million     13.9%
    PBT              INR 1,947.92 Million     INR 1,638.05 Million     18.9%
    PAT              INR 1,401.19 Million     INR 1,178.80 Million     18.9%

Executive Quote: 

"Enterprise digital transformation represents both an urgent imperative and a great opportunity for our customers. We continue to strengthen our partner ecosystem spanning an array of platforms and technologies to drive this digital transformation.  These include many of the established industry leaders as well as new companies developing visionary and disruptive solutions," said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. "How enterprises transform into software-driven businesses is fundamentally different in objective, approach, and speed from IT modernization and outsourcing. Our DNA of building software products and our investments in building frameworks for digital transformation positions us strongly for this opportunity."

Key Highlights: 

• Strategic investment in Pune-based Internet of Things (IoT) start-up Altizon Systems Pvt. Ltd.
• Became Gold partner of Scaled Agile, Inc.
• Launched Center of Excellence for Appian Platform in Columbus, Ohio.
• Attained Oracle Partner Network Specialization for Oracle Identity Governance and Oracle Access Management, the only Oracle partner to achieve both.
• Two years in a row judged Leader in Building Enterprise Software Products by Zinnov.
• Received the Certificate of recognition for Excellence in Corporate Governance for fourth consecutive year by the Institute of Company Secretaries of India.
• Won Computerworld Data+Editor's Choice Award for second year in a row
• Won Researchbytes IC Award 2014 for the Best Investor Communication Practice
• Included in the prestigious ET 500 Economic Times List of top 500 Indian listed companies

About Persistent Systems: 

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives our customers' business; enterprises and software product companies with software at the core of their digital transformation. For more information, please visit http://www.persistent.com/

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:

Rashmi Joshi
Persistent Systems Ltd.
Corporate Communications
Tel: +91-830-833-9400
Email: [email protected] 

Ken Montgomery
Persistent Systems Ltd.
Vice President, Global Communications
Tel: +1-949-939-5164
Email: [email protected]

SOURCE Persistent Systems Ltd.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED