ICICI Direct: Persistent Systems Posts  Healthy Operating Q2 Performance, Margins To Be On Steady Rise   
A person uses a laptop computer while working. (Photographer Daniel Acker/Bloomberg)

ICICI Direct: Persistent Systems Posts Healthy Operating Q2 Performance, Margins To Be On Steady Rise  

Bookmark

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Persistent System Ltd. reported a healthy set of Q2 FY21 numbers.

Dollar revenues increased 3.9% QoQ to $136 million, mainly led by 5.3% QoQ increase in services revenues (83% of revenues) partially offset by 3.0% QoQ decline in intellecutal propetry (IP) led revenues.

Rupee revenues increased 1.7% QoQ to Rs 1,007 crore. In terms of verticals, growth was led by technology companies and emerging vertical (up 4.5% QoQ) and financial services (up 4.2% QoQ).

In terms of geography, growth was led by Americas (up 7.1% QoQ), partially offset by Europe (declined 22.6% QoQ due to absence of large one-time IP deal in the current quarter).

Click on the attachment to read the full report:

ICICI Direct Persistent Systems Company Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.