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