Persistent Systems Q2 profit slips 2.3% to Rs 86 cr

6. Persistent Systems: Persistent Systems promoters increased have their stake in the company to 31.91 percent from 30.47 in the previous year. The stock has given 8.49 percent return YTD (Image Source: Moneycontrol)

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Tech firm Persistent Systems on November 4 reported a 2.3 percent decline in consolidated net profit at Rs 86.07 crore for the September 2019 quarter. The company had registered a profit of Rs 88.1 crore in the year-ago period, it said in a statement.

Revenue from operations, however, increased 5.9 percent to Rs 884.6 crore during the quarter under review as against Rs 835.5 crore in the year-ago period, it added.

In dollar terms, the company's revenue grew 6.2 percent to $125.51 million during the quarter from $118.23 million in the same period a year ago.

"Our focus is on creating organic growth across the board and releasing constraints in our business processes. This quarter's work included positioning our brand for customer recognition and success," CEO and Executive Director Christopher O'Connor said.

He added that the company is witnessing positive outcomes from this focus and intends to be even more agile in addressing its customers' needs and their business.