Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. Persistent Systems Limited
  6. News
  7. Summary
    533179   INE262H01013

PERSISTENT SYSTEMS LIMITED

(533179)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Persistent : continues strong growth trajectory in Q1FY22, reporting 9.2% Q-o-Q and 27.3% Y-o-Y with revenue of $166.82M

07/23/2021 | 08:21am EDT

Persistent Systems (BSE & NSE: PERSISTENT) today announced the Company's audited financial results for the quarter ended June 30, 2021, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended June 30, 2021:

	Q1FY22	Margin %	Q-o-Q growth	Y-o-Y growth
Revenue (USD Million)	166.82		9.2%	27.3%
Revenue (INR Million)	12,299.26		10.5%	24.1%
EBITDA (INR Million)	2,015.20	16.4%	7.0%	37.6%
PBT (INR Million)	2,030.52	16.5%	9.8%	66.4%
PAT (INR Million)	1,512.48	12.3%	9.8%	68.0%

The 31st Annual General Meeting of the Company was held on July 21, 2021. All the resolutions including final dividend payment of INR 6.00 per share, were passed with requisite majority.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems:

'The 9.2% sequential growth and 27.3% year-on-year growth that we delivered this quarter was amongst the highest ever. I'm especially proud of our team for this achievement during these challenging times.

We won several large digital engineering and enterprise modernization deals. These deals reinforce the differentiated value we deliver to both technology companies and enterprise clients. Our commitment to client success remains central. Our focus on deepening client relationships, disciplined execution, and operational excellence are foundational to achieving consistent, profitable growth. During this quarter, we also acquired Sureline Systems, to bolster our cloud capabilities.'

First Quarter FY22 Client Wins and Outcomes

The order booking for the quarter ended on June 30, 2021 was at $244.8 million in Total Contract Value (TCV) and at $188.83 million in Annual Contract Value (ACV).

Some of the key wins for the quarter include:

Software, Hi-Tech & Emerging Industries

Accelerating the development of an intelligent virtual agent solution for a leading IT provider.

Implementing Salesforce platform to drive business growth, improve CX and unify business processes for an education travel organization.

Re-architecting, re-engineering and modernizing gaming systems for a leader in gaming and lottery products and services.

Banking, Financial Services & Insurance

Co-engineering a next generation microservices based platform and managing legacy products for a leading US State and Local Government solution provider.

Transforming wholesale and commercial lending operations through consolidation of multiple legacy systems of record for a major US bank.

Delivering faster time to market for best-in-class employee management solution with cost-effective, rapid scale-up for a US HR and payroll service provider.

Healthcare & Life Sciences

Developing enterprise integration platform, RPA-based CoE and Azure data lake for clinical trial reporting for a leading biopharmaceutical company.

Managing Salesforce roadmap and providing managed services supporting proprietary inventory management platform for a large US-based pharmaceutical firm.

Modernizing cloud security utilizing Azure to improve business safety and resilience for the European arm of a global retail pharmacy company.

Partner Ecosystem

Persistent Systems and IBM Deepen Collaboration to Accelerate Hybrid Cloud Adoption in the Enterprise

Persistent Systems Joins Growing Ecosystem of Partners Using IBM Cloud Paks with Red Hat OpenShift to Modernize Mission-Critical Workloads

Analyst Recognition

For Fifth Consecutive Quarter, Persistent Named a Top 15 Sourcing Standout for Managed Services in Q1 2021 Global ISG Index 'Booming 15' Category

Persistent named a Star Performer in Everest Group's Software Product Engineering Services PEAK Matrix Assessment 2021

ISG Names Persistent a Rising Star for Digital Transformation in 2020 ISG Provider Lens for Healthcare Digital Services report for U.S.

Two digital case studies recognized in the 2021 ISG Digital Case Study Awards for best-in-class digital transformation work with enterprise clients

Other News

BloombergQuint: Think of Us as Disrupters, Says Persistent CEO Sandeep Kalra

Forbes: Healthcare Was Already Going Digital Pre-Pandemic. Here's What The Latest Data Indicates Is Next For Patients and Providers.

Persistent Bolsters Cloud Migration Capabilities with Sureline Systems

Caring for Employees & Society- Persistent Unites to #SeeBeyondRiseAbove

Suresh Prabhu joins Persistent as Chief Delivery Officer for Industry Verticals

About Persistent

With over 14,500+ employees around the world, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization.

www.persistent.com

Forward-looking and Cautionary Statements

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

Media Contacts

Emma Handler

Persistent Systems (Global)

+1 617 633 1635

emma_handler@persistent.com

Manohar Dhanakshirur

Archetype

+91 750 644 5361

manohar.dhanakshirur@archetype.co

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about PERSISTENT SYSTEMS LIMITED
10/11PERSISTENT : Launches One of the Most Inclusive Employee Stock Option Plans in the Global ..
AQ
10/05PERSISTENT : Completes $53 Million Acquisition of US-based Software Corp.
MT
10/05Persistent Systems Limited completed the acquisition of Software Corporation Internatio..
CI
10/01PERSISTENT : Announces a Dedicated Payments Business Unit and Expands Cloud Capabilities t..
AQ
09/29Persistent Systems Limited entered into a stock purchase agreement to acquire Software ..
CI
09/29Persistent Systems Limited entered into an agreement to acquire Shree Infosoft Pvt. Ltd..
CI
09/21China Evergrande's rising default risks shift focus to possible Beijing rescue
RE
08/06Persistent Systems to Seek Acquisitions
CI
07/23PERSISTENT : continues strong growth trajectory in Q1FY22, reporting 9.2% Q-o-Q and 27.3% ..
AQ
07/23Indian shares end higher on IT boost; Zomato closes 65% above offer price
RE
More news
Financials
Sales 2022 53 914 M 719 M 719 M
Net income 2022 6 473 M 86,3 M 86,3 M
Net cash 2022 6 571 M 87,6 M 87,6 M
P/E ratio 2022 46,2x
Yield 2022 0,66%
Capitalization 295 B 3 939 M 3 939 M
EV / Sales 2022 5,36x
EV / Sales 2023 4,47x
Nbr of Employees 10 357
Free-Float 60,5%
Chart PERSISTENT SYSTEMS LIMITED
Duration : Period :
Persistent Systems Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PERSISTENT SYSTEMS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 3 864,15 INR
Average target price 3 461,75 INR
Spread / Average Target -10,4%
EPS Revisions
Managers and Directors
Anand Suresh Deshpande Chairman & Managing Director
Sandeep Kumar Kalra Chief Executive Officer & Executive Director
Sunil Yeshwant Sapre Chief Financial Officer & Executive Director
Amit Murari Atre Secretary & Compliance Officer
Pradeep Kumar Bhargava Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
PERSISTENT SYSTEMS LIMITED155.30%3 939
ACCENTURE PLC35.44%223 468
TATA CONSULTANCY SERVICES LTD.22.22%172 636
INTERNATIONAL BUSINESS MACHINES CORPORATION1.95%114 621
SNOWFLAKE INC.20.75%102 240
INFOSYS LIMITED36.95%96 134