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Persistent Systems Q2 net profit up 6.7%

PUNE: Persistent Systems reported a 6.7% increase in net pro..

PUNE: Persistent Systems reported a 6.7% increase in net profit at Rs 88.14 crore for the quarter ended 30 th September 2018, and a9.8% increase in revenues at Rs 835.57 crore. In dollar terms, the revenues were up marginally by 0.1% at $118.23 million. The EBITDA for the quarter was up 24% at Rs 143.62 crore.

Anand Deshpande, CMD, Persistent Systems said, “While our digital numbers are lower than expected, we see good growth opportunities across all segments of our business and multiple new projects started this quarter that will deliver long-term revenue growth. The shortfall in digital revenue can be attributed to short closure of one of our projects and a shift in the business mix as some projects moved offshore. We continue to invest in new technologies and in enhancing domain and consulting skills in our customers geography as can be seen from the acquisition of Herald Health and the setting up of Partners Healthcare Pivot Labs.”

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