Persistent Systems reports strong growth: 20.3% Y-o-Y for Q4 and 12.9% for FY21

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Persistent Systems

29 Apr, 2021, 17:02 BST

Reports 4.6% sequential Q-o-Q growth

SANTA CLARA, Calif. and PUNE, India, April 29, 2021 /PRNewswire/ --

News Summary

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) announced the Company's audited financial results for the quarter and year ended March 31, 2021, as approved by the Board of Directors.

Consolidated Financial Highlights for the Financial Year 2020-2021

FY20

FY21

Y-o-Y growth

Revenue (USD Million)

501.61

566.08

12.9%

Revenue (INR Million)

35,658.08

41,878.88

17.4%

EBITDA (INR Million)

4,929.54

6,830.15

38.6%

PBT (INR Million)

4,523.42

6,094.43

34.7%

PAT (INR Million)

3,402.89

4,506.77

32.4%

Consolidated Financial Highlights for the Quarter ended March 31, 2021

Q4FY21

Q-o-Q growth

Y-o-Y growth

Revenue (USD Million)

152.82

4.6%

20.3%

Revenue (INR Million)

11,133.58

3.5%

20.2%

EBITDA (INR Million)

1,883.29

3.2%

47.5%

PBT (INR Million)

1,848.78

12.0%

63.5%

PAT (INR Million)

1,377.59

13.9%

64.3%

The Board of Directors at its meeting held on April 29, 2021, recommended final dividend of INR 6.00 per share on the face value of INR 10.00 each. In January 2021, the Board declared an interim dividend of INR 14.00 per share making total dividend of INR 20.00 per share. The dividend recommended by the Board is subject to the approval of the Members during the ensuing Annual General Meeting.

Anand Deshpande, Founder, Chairman and Managing Director, Persistent Systems:

"This year was tough. We sincerely pray for everyone's well-being. The pandemic brought on the rapid shift to remote work, and I want to recognize the resilience shown by our employees. They ensured continuous, high-quality service delivery, demonstrating our unwavering commitment to our customers. Thank you to our customers and partners for their continued support."

Sandeep Kalra, Executive Director and Chief Executive Officer, Persistent Systems:

"We are happy to conclude FY21 on a high note, with double digit growth in both our revenue and EPS. Our performance demonstrates the alignment between Persistent's core strengths in digital engineering and our clients' needs as they accelerate to the next wave of transformation. We are confident that efforts to strengthen our leadership team, partner ecosystem, and operational excellence will continue to be the foundation of our success. The Persistent Foundation continues to contribute towards COVID relief efforts globally and we continue to support our employees during these challenging times."

Fourth Quarter FY21 Client Wins and Outcomes

Software, Hi-Tech & Emerging Industries

  • Engineering and GTM partnership for a portfolio of security products for a global technology leader
  • Building a Center of Excellence for a leading low code technology provider to deliver transformation for their customers in BFSI and HLS segments
  • Managing end-to-end IT operations using Persistent Intelligent Operations for a leading US-based marketing and events management company

Banking, Financial Services & Insurance

  • Building a digital lending portal and modernizing the payments platform for the commercial group at a top 5 US bank
  • Migrating critical data to AWS Cloud with integrations for consumer offerings for a Fortune 25 financial services ISV
  • Developing Salesforce-based digital loan platforms for consumer lending for two leading Indian banks

Healthcare & Life Sciences

  • Delivering intelligent visualization and BI dashboard for COVID-19 vaccine shipments for a leading cold-chain distribution company
  • Building a Digital Front Door and Patient Experience solution with integration into EMR systems and patient portals for a leading US health system
  • Executing an enterprise-wide legacy modernization program leveraging MuleSoft and automation for a leading clinical research organization

Partner Ecosystem

Analyst Recognition & Awards

Other News

About Persistent

With over 13,500 employees around the world, Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/FLCS.

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Media Contacts

Emma Handler
Persistent Systems (Global)
+1 617 633 1635
emma_handler@persistent.com

Saviera Barretto
Archetype
+91 84249 17719
saviera.barretto@archetype.co

Related Links

https://www.persistent.com

SOURCE Persistent Systems

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