IT firm Persistent Systems’ Q1 net profit up 68% to Rs 151.2 crore

IT firm Persistent Systems on Thursday reported a 68 per cent jump in consolidated net profit to Rs 151.2 crore for the April-June quarter of this year.

The company had posted a net profit of Rs 90 crore in the year-ago period, Persistent Systems said in a regulatory filing.

Its revenue from operations grew 24.1 per cent to Rs 1,229.9 crore in the reported quarter as compared with Rs 991.3 crore in the April-June 2020 period, it added.

In dollar terms, the company’s revenue rose 27.3 per cent to USD 166.82 million from the year-ago period.

“The 9.2 per cent sequential growth and 27.3 per cent year-on-year growth that we delivered this quarter was amongst the highest ever. I’m especially proud of our team for this achievement during these challenging times,” Persistent Systems Chief Executive Officer and Executive Director Sandeep Kalra said.