Motilal Oswal: Persistent Systems Remain Positive On Services Growth
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Motilal Oswal: Persistent Systems Remain Positive On Services Growth

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.

Motilal Oswal Report

Persistent Systems Ltd. reported sequential revenue growth of 3.9% (U.S. dollar) and an Ebit margin of 12.1% (approximately 170 basis point expansion), ahead of estimates.

Growth was driven by the services business, partly offset by the IP portfolio due to seasonality in the reseller business. Broad-based performance was encouraging.

Healthy growth in services despite a high base indicated steady progress on the turnaround.

Management commentary further implied a healthy deal pipeline in the services business.

Click on the attachment to read the full report:

Motilal Oswal Persistent Systems Q2FY21 Result Update.pdf

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