Persistent Systems Reports Q3 FY18 QoQ Revenue Growth of 3.8% and PAT Growth of 10.6%

PUNE, India and SANTA CLARA, January 27, 2018 /PRNewswire/ --

News Summary:  

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the third quarter ended December 31, 2017, as approved by the Board of Directors.

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Consolidated Financial Highlights for the Quarter ended December 31, 2017: 

    (USD Million)          Q3 FY18    QoQ growth    YoY growth
    Revenue                 122.53          3.8%         11.4%
    EBITDA                   21.28         18.5%         21.5%
    PBT                      18.18          5.2%         10.2%
    PAT                      14.18         10.6%         17.4%

Dividend:  

The Board of Directors at its meeting held on January 27, 2018 declared 70% interim dividend.

Management Updates: 

• Sunil Sapre is inducted on the Board of Directors and designated as Additional Director (Executive Director and Chief Financial Officer) with effect from January 27, 2018
• Mike Kuklenko joins as Senior Vice President - Sales and will be driving our business growth in Europe

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems: 

"We continue to make good progress on our journey of transformation. We observe that businesses are using machine learning and artificial intelligence on the cloud to redefine themselves to become software driven. This aligns well with our capabilities in next generation technologies in data, digital and IoT as is evident from our recent wins."

Key Wins during the quarter: 

• Partnered with a global technology company to develop a cognitive engine to effectively utilize human resource allocations and recruitment
• Design and development of a cognitive solution to accelerate mass communications of marketing messages for a leading technology company
• Development of an artificial intelligence based e-commerce platform for a global technology company to provide real time personalization of consumer data
• Engineering partner for a financial software company to build a public cloud-based developer productivity platform
• Development of a healthcare focused revenue cycle management product for a US based consulting firm
• Building a Salesforce driven patient engagement model for a leading US hospital
• Enabling the transformation of the technology platform of Indiana Office of Technology (IOT) to provide transparent and efficient services to citizens

Business Highlights and Awards: 

• Featured among the leading players in the 'Zinnov Zones 2017 - Product Engineering Services' report for Enterprise and Consumer Software
• Ranked amongst the top 50 Fastest Growing Firms by Consulting Magazine
• Named Best Enterprise Services Vendor by Constellation Research
• Accelerite announced ShareInsights 2.0, an end-to-end, self-service big data analytics platform 
• Digital remodeling of the Pune Police's Dial-100 Emergency Response Service

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://www.persistent.com/FLCS

Media Contacts:  

Saviera Barretto   
Text100
+91-84249-17719
[email protected]

Isha Kulkarni 
Persistent Systems
+91-73505-21177
[email protected]

Ken Montgomery 
Persistent Systems (US)
+1-949-939-5164
[email protected]

SOURCE Persistent Systems Limited