Persistent Delivers 9.3% QoQ and 34% YoY Growth for T2FY22

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Reports PAT growth of 58.6% year-on-year

Posted: October 26, 2021 at 2:40 p.m. EDT|Update: 1 hour ago

SANTA CLARA, California and PUNE, India, October 26, 2021 / PRNewswire / – Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) today announced the Company’s audited financial results for the quarter ended September 30, 2021, as approved by the Board of Directors.

Consolidated financial highlights for the quarter ended September 30, 2021:

Q2FY22

Margin%

QoQ growth

Annual growth

Revenue (million USD)

182.32

9.3%

34.0%

Income (INR million)

13,512.49

9.9%

34.1%

EBITDA (million INR)

2 243.94

16.6%

11.4%

35.4%

PBT (million INR)

2,176.32

16.1%

7.2%

58.3%

PAT (million INR)

1,617.53

12.0%

6.9%

58.6%

Sandeep Kalra, CEO and General Manager, Persistent Systems

“We are delighted to report that Persistent ended the quarter on a record high, again posting leading performance including 34% year-over-year revenue growth and continued improvement in margins. During the quarter, we announced the acquisition of Software Corporation International and Shree Partners, forming a new payments business unit and strengthening our expertise in the cloud and IT infrastructure.

We were named by Forbes Asia on their 2021 “Best Under A Billion” list which recognizes companies under $ 1 billion turnover with constant growth in turnover and net income. We also proudly launched one of the most inclusive employee stock option plans in the global IT services industry, empowering our team to participate in creating shareholder value. . “

Customer earnings and results for the second quarter of fiscal year 22

Order intake for the quarter ended on September 30, 2021 was $ 282.5 million in total contract value (TCV) and at $ 201.1 million in Annual Contract Value (ACV).

Here are some of the top wins of the quarter:

Software, high technology and emerging industries

  • Migration of brand websites to Shopify to extend direct-to-consumer sales channel and data analytics modernization for a US-based beverage company.
  • Upgrading the customer’s product from the legacy platform to AWS and improving the product roadmap for an employee engagement solutions provider.
  • Transform and modernize a cloud-based product for a leading provider of financial technology and tax preparation.

Banking, financial services and insurance

  • Establish a global technology center to deliver enterprise-wide digital transformation for a third-party global insurance administrator.
  • Building a Next Generation Savings Platform to Provide Competitive Advantage and Accelerate Revenue Growth for a U.S. Government and Health Savings Enabler.
  • Develop and launch a cloud-native neobank based in the UK and Switzerland.

Health and Life Sciences

  • Building a patient engagement platform using a leading low-code developer solution for a US healthcare provider.
  • Aggregation of clinical data sources into a Microsoft Azure-based data lake for a leading contract research organization.
  • Development of a Salesforce-based home care solution for the EMEA region, comprising a customer service portal and a patient portal, for a multinational healthcare company.

Recognition of analysts

Other news

About persistent

With more than 15,500 employees in 18 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company providing digital engineering and business modernization services. Persistent was named to the Forbes Asia Best Under A Billion 2021 list, representing consistent performance in terms of revenue and earnings as well as growth.

Forward-looking statements and cautions

For the risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs/

Media contacts

Emma manager

Manohar Dhanakshirur

Persistent (global) systems

Archetype

+1 617 633 1635

+91 750 644 5361

[email protected]

[email protected]

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SOURCE persistent systems

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