Persistent Systems - Services Revenues Continue Its Strong Performance In Q4: ICICI Direct
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Persistent Systems - Services Revenues Continue Its Strong Performance In Q4: ICICI Direct

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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 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.

Click on the attachment to read the full report:

ICICI Direct Persistent Company Update.pdf

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