▷ Persistent delivers 9.3% QoQ and 34% YoY growth for Q2FY22

27.10.2021 – 21:37

Persistent Systems


58.6% PAT growth compared to the previous year

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) today announced the company’s audited financial results for the quarter ended September 30, 2021, approved by the Board of Directors.

Consolidated financial metrics for the quarter ended September 30, 2021:

Q2FY22 Marge % QoQ growth YoY growth
Income (MILLION USD) 182,32 9,3 % 34,0 %
Income (INR million) 13.512,49 9,9 % 34,1 %
EBITDA (INR million) 2.243,94 16,6 % 11,4 % 35,4 %
PBT (INR million) 2.176,32 16,1 % 7,2 % 58,3 %
PAT (Mio. INR) 1.617,53 12,0 % 6,9 % 58,6 %

Sandeep Kalra, chairman and executive director, Persistent Systems

“We are pleased to announce that Persistent closed the quarter on a record high – again with an industry-leading performance, including year-over-year revenue growth of 34% and continued margin improvement. During the quarter, we announced the acquisition from Software Corporation International and Shree Partners, creating a new business area for payments and expanding our expertise in the areas of cloud and IT infrastructure.

We were named to Forbes Asia’s ‘Best Under A Billion’ 2021 list, which recognizes companies with less than $ 1 billion in revenue that have consistent sales and earnings growth. We are also proud to have launched one of the most comprehensive employee stock option plans in the global IT services industry, giving our team the opportunity to participate in the value creation for shareholders. “

Second Quarter FY22 Customer Acquisitions and Results

New orders for the quarter ended September 30, 2021 were $ 282.5 million in total order value (TCV) and $ 201.1 million in annual order value (ACV).

Key achievements this quarter include:

Software, hi-tech and emerging industries

  • Migration of brand websites to Shopify to expand the direct sales channel and modernize data analysis for an American beverage manufacturer.
  • Upgrading the customer product from the old platform to AWS and improving the product roadmap for a provider of employee loyalty solutions.
  • Redesign and modernization of a cloud-based product for a leading provider of tax and financial technology.

Banking, financial services and insurance

  • Establishment of a global technology center for company-wide digital transformation for a global third-party insurance manager.
  • Building next generation savings platform to create competitive advantage and accelerate revenue growth for a U.S. government and healthcare savings broker.
  • Development and launch of a cloud-native neo-bank based in the UK and Switzerland.

Healthcare and Life Sciences

  • Established a platform for patient participation using a leading low-code development solution for a US healthcare provider.
  • Aggregation of clinical data sources in a Microsoft Azure-based data lake for a leading contract research company.
  • Developed a Salesforce-based home care solution in the EMEA region, including a customer service portal and a patient portal, for a multinational healthcare company.

Analyst recognition

  • Persistent is named as a leader in the ISG Provider Lens (TM) Archetype Report on next-generation hybrid cloud services
  • Persistent named one of the top 15 managed services procurement companies in the “Booming 15” category of the Global ISG Index (TM) for Q2 2021 for the sixth consecutive quarter
  • Zinnov recognized as a leading provider of hyper-intelligent automation services for small and medium-sized service providers

Further news

  • Persistent introduces one of the most comprehensive employee stock option plans in the global IT services industry
  • Persistent announces its own business unit for payments and expands its cloud capabilities through strategic acquisitions
  • Forbes Asia names Persistent to its “Best Under A Billion” list for 2021
  • BloombergQuint: Talking point with Sandeep Kalra of Persistent Systems

Information about persistent

With over 15,500 employees in 18 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global service and solutions company that offers digital engineering and corporate modernization. Persistent was included in the Forbes Asia Best Under A Billion 2021 list and thus stands for constant sales and profit development as well as growth.


Forward-looking statements and warnings

For more information about the risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs.

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Original content by: Persistent Systems, transmitted by news aktuell


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