Persistent Systems Q2 FY13 $Revenue Grows 9.4% Q-o-Q, EBIDTA Grows10.3% Q-o-Q
Added On:10/19/2012 1:56:00 PM

Persistent Systems has announced the Company’s audited financial results for the second quarter ended September 30, 2012, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September30, 2012

•  Revenue was US$ 60.05 Million, representing a Y-o-Y growth of 16.5%, and Q-o-Q growth of 9.4%.
•  Revenue was Rs.3,268.64Million representing a Y-o-Y growth of 37.2%, and Q-o-Q growth of 8.7%.
•  IP led Revenue for the quarter was US$ 11.36 Million as against US$ 7.65 Million for the previous    quarter, representing a Q-o-Q growth of 48.5%.
•  EBIDTA was Rs.890.20Million, representing a Y-o-Y growth of 96.3%, and Q-o-Q growth of 10.3%.
•  PBT was Rs.622.79Million, representing a Y-o-Y growth of 38%, and Q-o-Q growth of 8.2%.
•  PAT was Rs.446.47Million, representing a Y-o-Y growth of 37.8%, and Q-o-Q growth of 7.4%.
Consolidated Financial Highlights for half year ended September 30, 2012:

• Revenue was US$ 114.96Million, as against US$ 101.53Million for half year ended September 30, 2011,representing a growth of 13.2%.

• Revenue was Rs.6,275.68Million, as against Rs.4,619.57Million for half year ended September30, 2011,representing a growth of 35.8%.

• EBIDTA was Rs.1,696.93Million, as against Rs.854.56Million for half year ended September30, 2011,representinga growth of 98.6%.

• PBT was Rs.1,198.26Million, against Rs.851.50Million for half year ended September 30, 2011,representing a growth of 40.7%.

• PAT was Rs.862.25 Million, against Rs.599.79Million for half year ended September30, 2011,representing a growth of 43.8%.

I am delighted with our second quarter results as we begin to see the positive results of our investments in IP, strategic alliances, and key platforms,with IP led revenuesleading the way this quarter is announced by Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems.  We also saw a surge in deals in the media/entertainment industry, specifically in the area of Big Data Analytics. We continue to remain positive on the market opportunities in our technology and industry focus areas and the confidence demonstrated by our customers is a testimony to this.”
Business Highlights:

• Acquired Doyenz’s rCloud innovative cloud platform business continuity solution which provides backup and disaster recovery for physical and virtual servers. This acquisition furthers Persistent Systems’ objectives in growing its IP-led business, and strengthens the Company’s cloud computing and SMB offerings.

• Company’sBig Data team designed and implemented an end to end analytics process for Aamir Khan’s pioneering show "Satyamev Jayate" capturing impressions across various web and social channels. 

• Expanded SMB social enterprise services to include Salesforce Chatter enablement, collaboration portal development, Radian 6 and Salesforce Site.comimplementation services to help businesses better engage with and listen to their customers.

• Strengthened management team with the appointment of Nara Rajagopalan as Chief Product Officer who will be responsible for IP led Business and product takeovers.

• Announced Alan Turing centenary celebrations.
Awards and Recognitions:
• Won the Golden Peacock Award for Excellence in Corporate Governance – 2012 which was conferred at the London Global Convention 2012 on October 11, 2012. The Golden Peacock Awards for 2012 was decided by the Jury under the Chairmanship of Justice P. N. Bhagwati, former Chief Justice of India and Member, UN Human Rights Commission.
• Named in the 2012 Global Services 100 List (GS100) for the second consecutive year; recognized as a Leading Global Outsourced Product Development (OPD) Vendor and a Specialty Application Development and Management (ADM) Vendor.
• Recognized by Zinnov (i) as a ‘Leading Player’ in the Software/ISV R&D and Consumer Software Segments; (ii) in the ‘Breakout Zone’ as a Leading Telecommunication R&D Service Provider;(iii) in the ‘Nurture Zone’ as a Healthcare R&D Service Provider;(iv) in the ‘Execution Zone’ for its deep expertise in cloud and enterprise mobility.
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