Persistent Systems March quarter net profit at Rs 84 crore

Mid-sized IT firm Persistent SystemsNSE 3.40 % reported a marginal decrease of 0.8% in net profit at Rs 83.82 crore for the quarter ended 31st March 2020 and revenues of Rs 926.36 crore, up 11.4% over the corresponding quarter last year.

For the financial year 2019-20, the company reported a net profit of Rs 320.28 crore, down 3.4% and revenues of Rs 3,565.80 crore, up 5.9%. In dollar terms, revenue was up 4.3% at $501.61 million.

“We closed FY20 very strong; for the first time in Persistent’s history, we crossed the half billion-dollar mark in revenue. We had particular strength in our Technology Services Unit, which delivered a robust quarter driven through solid expansion.