Persistent Systems - Services Revenues Continue Its Strong Performance In Q4: ICICI Direct
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ICICI Direct Report
Persistent Systems Ltd. reported a healthy set of Q4 FY21 numbers.
Dollar revenues increased 4.6% QoQ to $152.8 million, mainly led by 8.6% QoQ increase in services revenues (85% of revenues) partially offset by 13.8% QoQ decline in intellectual property led revenues (due to seasonality).
In terms of verticals, growth was led by financial services (up 6.7% QoQ) and life science and healthcare (up 5.7% QoQ).
In terms of geography, growth was led by Americas (up 2.1% QoQ) and Europe (up 18.8% QoQ).
The Ebit margin expanded 50 basis points QoQ to 13.2% due to lower amortisation charges.
The company has recommended a dividend of Rs six per share.
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