Persistent Systems Q2 net profit at Rs.82.6 crore


Persistent Systems announced the Company’s audited financial results for the second quarter ended September 30, 2017, as approved by the Board of Directors.

The company reported net profit at Rs. 82.6 crore, while company recorded revenue at Rs. 761.25 crore.

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:“We are pleased with our performance this quarter, we have seen continued and steady growth in our revenues supported by improved margins. We see strong demand in data, digital and IoT, specifically in healthcare and financial services. Our methodology, Software 4.0 is helping our customers accelerate their journey towards becoming a software driven business.

Encouraged by the splendid response to the inaugural edition, we are delighted to launch Smart India Hackathon 2018. Smart India Hackathon, which started as a simple idea sparked at Persistent Systems has now evolved into a nationwide movement.”

Key Wins during the quarter:

Momentum in Financial Services and Healthcare:

Building a large scale business data platform for a US based banking and financial services company to enable consistent credit and risk management, regulatory compliance and profitability calculations
Building an analytics application over a global data lake for a US based residential mortgage company to unlock insights to the mortgage origination process and drive self-service analytics
Partnering with a leading provider of medical technologies to adopt next generation requirements management and continuous engineering tools
Building a cognitive chat-bot solution based on IBM Watson to streamline self-service operations for a leading US based hospital conglomerate
Built a Salesforce driven patient portal for a US based healthcare services company to get a 360 degree view of patient interactions for enhanced patient engagement
Driving a large, multi-year transformation program to shift from product centric to customer centric strategy, for a leading US based financial software company