Persistent Systems reports Q2 FY17 revenue grew at 26.8% YOY

Persistent Systems has announced the Company’s audited financial results for the second quarter ended September 30, 2016, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2016:

Q2 FY17Q-o-Q growthY-o-Y growth
Revenue (USD Million)105.180.4%26.8%
Revenue (INR Million)7,040.190.3%29.7%
EBITDA (INR Million)1,107.794.8%8.9%
PBT (INR Million)984.441.7%2.1%
PAT (INR Million)734.930.3%2.3%

 Consolidated Financial Highlights for the Half-Year ended September 30, 2016:

H1 FY17Y-o-Y growth
Revenue (USD Million)209.9429.9%
Revenue (INR Million)14,057.9634.8%
EBITDA (INR Million)2,165.319.0%
PBT (INR Million)1,952.442.5%
PAT (INR Million)1,467.795.5%

 “Our focus on the how of digital continues to drive momentum with customers who are co-innovating with us to craft new software-driven experiences. Growing recognition from customers, partners and industry analysts further validates continuous transformation by design as the way to be a software-driven or digital business. We believe that our strategy of enhanced focus on IP-driven and digital business will result in continued growth of the Company as we respond to changing market conditions” said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems.

Business Highlights:

  • Working with Hackensack University Medical Center to deliver new software-driven experiences in healthcare
  • Developed a ‘Multilingual Intelligent Search and Analytics Solution’ for Uttar Pradesh legislative assembly, inaugurated by The Hon’ble Chief Minister of Uttar Pradesh, Shri Akhilesh Yadav
  • Partnered with Indiana University’s School of Informatics and Computing to draw connections and conclusions from the vast amounts of data generated by social media to tackle new areas of health research at a scale never before seen
  • Named by Salesforce as a partner to implement and extend their newly launched telehealth capabilities in health cloud
  • Hosted the 42nd International Conference on Very Large Databases (VLDB) in Delhi
    from 5th to 9th Sept 2016. The last time this conference was held in India was in Mumbai in 1996
  • Hosted Digital India event on September 5th aimed at addressing large-scale data problems of India with The Hon’ble Union Minister for Law and Justice & Information Technology, Shri Ravi Shankar Prasad as the chief guest
  • Expanded leadership team with Jacqueline White joining as Chief Customer Officer and Dean Hamilton as SVP and GM for Accelerite’s IoT Service Enablement Business

Awards and Recognition:

  • Featured for the first time in Consulting magazine’s ‘Fastest Growing Firms’ based on our growing presence in the Enterprise segment
  • In the ‘Zinnov Zones 2016 – IoT Technology Services’ Report, Persistent is included in the Leadership Zone for ‘Software Platform Engineering & Management’ and ‘Engineering Analytics & Decision Sciences’
  • Recognized at the Oracle Excellence Awards 2016 as a specialised partner for security
  • Received ISO 14064-1:2006 (Green House Gases emission verification) certification for all facilities in India for the financial year 2015-16 by the American Global Standards
  • Recognized by the Association for Talent Development in the 2016 BEST Awards for demonstrating enterprise-wide success through talent development
  • Dr. Anand Deshpande appointed as part-time member of the UIDAI

New Wins during the Quarter:

  • Build new digital experiences for HR and vendor on-boarding, for a multibillion-dollar global multinational in medical devices and pharmaceuticals
  • Develop an application and API architecture for actionable insights and to bring speed to digital transformation for a global mass media corporation
  • A digital payment solution using an API-based framework for a US health technology provider
  • Strategic partnership with a US based leader in financial software and services positions Persistent amongst its top three strategic partners

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