Persistent Systems - IP Led, Services Both Drive Q3 Revenues: ICICI Direct
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ICICI Direct Report
Persistent System Ltd. reported a healthy set of Q3 FY21 numbers.
Dollar revenues increased 7.4% QoQ to $146.1 million, mainly led by a 5.0% QoQ increase in services revenues (82% of revenues) and a 19.8% QoQ increase in intellectual property led revenues.
Rupee revenues increased 6.7% QoQ to Rs 1075 crore.
In terms of verticals, growth was led by technology companies and emerging vertical (up 13.3% QoQ) and lifescience and healthcare (up 6.3% QoQ).
In terms of geography, growth was led by the Americas (up 5% QoQ), and Europe (up 24% QoQ).
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