Power-Packed Growth

Persistent Systems, for the first time, witnessed its revenue and profit crossing significant milestones of Rs 1,000 crore and Rs 100 crore within a single quarter. During the second quarter (Q2) of Financial Year (FY) 2021, this Pune-based mid-size IT firm’s revenue was at Rs 1,007.7 crore, with a Quarter-on-Quarter (Q-o-Q) growth of 1.7 per cent and a Year-on-Year (Y-o-Y) growth of 13.9 per cent. Its net profit stood at Rs 101.9 crore with a growth of 13.3 per cent Q-o-Q and 18.5 per cent Y-o-Y in Q2 FY2021. Two business verticals - Technology Services Units (TSU) and Alliance – contributed 77.3 per cent and 22.7 per cent to its total revenue in Q2 FY2021.Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) showed a growth of 36.3 per cent at Rs 165.8 crore Y-o-Y on the back of lower travel cost, higher utilisation and strong execution. For its alliance...