Persistent Systems Limited — Earnings Release 2018

Oct 21, 2018

NSE & BSE / 2018-19 / 68

==> picture [49 x 66] intentionally omitted <==

October 21, 2018

The Manager, Corporate Services, National Stork Fxchange of India Umited Exchange Plaza, Sandra Kurla Complex, Sandra (El, Mumbai 400051

Ref: Symbol: PERSISTENT

The Manager, Corporate Services, BSE Limited 14'' Floor, P J Towers, Dalal Street, Mumbai 400001

Ref: Scrip Code: 533179

Dear Sir/ Madam,

Sub: Press Release regarding financial results for the quarter and half year ended September 30, 2018

We wish to inform you that the Company has made a press release dated October 21, 2018 announcing the audited financial results for the quarter and half year ended September 30, 2018, as approved by the Board of Directors at its meeting held on October 20, 2018 and concluded on October 21, 2018.

The copy of the Press Release is attached for your records.

Please acknowledge the receipt.

Thanking you,

==> picture [28 x 56] intentionally omitted <==

==> picture [140 x 103] intentionally omitted <==

----- Start of picture text -----

Yours faithfully,
For
terns Limited
Persister �
Am1tAJref /t7 . , (
Company Secretary
----- End of picture text -----

==> picture [67 x 9] intentionally omitted <==

----- Start of picture text -----

Encl: As above
----- End of picture text -----

==> picture [75 x 76] intentionally omitted <==

Persistent Systems Limited, Bhageerath, 402, Senapati Bapat Road, Pune 411016 I Tel: +91 (20) 670 30000 Persistent Systems Inc., 2055, Laurelwood Rd. Suite 210, Santa Clara, CA 95054, USA I Tel: +1 (408) 216 7010

==> picture [455 x 73] intentionally omitted <==

PERSISTENT SYSTEMS REPORTS 9.8% REVENUE GROWTH AND 6.7% PAT GROWTH FOR Q2 FY19 ON YOY BASIS

Pune, India and Santa Clara, US – October 21, 2018:

News Summary:

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the second quarter ended September 30, 2018, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2018:

	Q2 FY19	QoQ growth	YoYgrowth
Revenue (USD Million)	118.23	-4.3%	0.1%
Revenue (INR Million)	8,355.57	0.2%	9.8%
EBITDA (INR Million)	1,436.23	2.6%	24.0%
PBT (INR Million)	1,268.79	7.0%	13.8%
PAT (INR Million)	881.41	0.9%	6.7%

Consolidated Financial Highlights for the Half-Year ended September 30, 2018:

	H1 FY19	YoYgrowth
Revenue (USD Million)	241.83	4.7%
Revenue (INR Million)	16,698.38	12.1%
EBITDA (INR Million)	2,836.69	28.9%
PBT (INR Million)	2,455.04	15.0%
PAT (INR Million)	1,754.89	11.3%

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:

While our digital numbers are lower than expected, we see good growth opportunities across all segments of our business and multiple new projects started this quarter that will deliver long-term revenue growth. The shortfall in digital revenue can be attributed to short closure of one of our projects and a shift in the business mix as some projects moved offshore.

We continue to invest in new technologies and in enhancing domain and consulting skills in our customers’ geography as can be seen from the acquisition of Herald Health and the setting up of Partners Healthcare Pivot Labs.

Highlights and Recognitions:

• Partners HealthCare launches New Center of Excellence in collaboration with Persistent Systems, Partners HealthCare Pivot Labs, with an aim to disrupt the delivery of healthcare to enhance patient experience, improve clinical outcomes and control costs

• Persistent Systems acquired Herald Health™, a Boston based start-up that transforms healthcare data overload into clear and actionable insights for care providers and patients

• • Persistent Systems acquired select businesses and allied resources from Above Solutions India Private Limited

• • Persistent Systems recognized in the Winner’s Circle by HFS Blueprint Report for Software Product Engineering Services

• Persistent Systems’ Trade Finance Solution wins AIconics award for Best Application of AI in Financial Services

• Dr. Abhay Jere, VP and Head of Persistent Labs has been seconded to the Government of India post his appointment as the Chief Innovation Officer at the Ministry of Human Resource Development

- Customer and Partner Highlights: (www.persistent.com/customers speak)

• Real Estate Institute of Western Australia works with Persistent to employ a CRM solution used by all stakeholders

• SwanCare, a leading provider of retirement living and aged care works with Persistent to refresh eldercare experience

• Tritium, an e-mobility and renewable energy company is working with Persistent to get a 360° view of their customers

• • Mambu, a leading cloud banking engine works with Persistent to provide next generation financial services

• • India’s National Center for Radio Astrophysics teams with Persistent as a technology partner to develop the Square Kilometre Array (SKA)

• Partnered with IBM for its global hackathon initiative - Call for Code, to leverage next generation technology in addressing natural disasters

Key Wins during the Quarter:

• Develop an analytics and visualization solution to enable data driven governance for a state government in India

• Build a Customer Experience Management platform to provide customer insights critical to business and revenue generation for a Swedish industrial company

• UI development and solutions testing for a multinational networking and communications technology company headquartered in the US

• Product engineering partner for a leading revenue management solutions company specialized in hospitality and travel

• Technology partner to build multiple digital banking solutions around lending systems, loan origination and e-KYC services for a large US based bank

• Intelligent automation of business processes to improve profitability using Blue Prism RPA platform for a US based financial services company

• Selected as a technology partner to implement Blockchain technology for faster, simpler and cheaper land registration process

About Persistent Systems:

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

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

Media Contacts:

Media Contacts:
Saviera Barretto	Isha Kulkarni	Ken Montgomery
Text100	Persistent Systems	Persistent Systems (US)
+91 84249 17719	+91 86696 70068	+1 949 939 5164
saviera.barretto@text100.co.in	isha_kulkarni@persistent.com	ken_montgomery@persistent.com