AI assistant
Persistent Systems Limited Earnings Release 2019
60826_rns_2019-04-27_bb9f81c6-8b88-4989-848b-ee3a541c1aef.pdf
Earnings Release
Open in viewerOpens in your device viewer
NSE & BSE / 2019-20 / 010
April 27, 2019
The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400051
Ref: Symbol: PERSISTENT
The Manager, Corporate Services, BSE Limited 14th Floor, PJ Towers, Dalal Street, Mumbai 400001
Ref: Scrip Code: 533179
Dear Sir / Madam.
Sub: Press Release regarding financial results for the quarter and year ended March 31, 2019
We wish to inform you that the Company has made a press release dated April 27, 2019 announcing the audited financial results for the quarter and year ended March 31, 2019, as approved by the Board of Directors at its meeting held on April 26, 2019 and concluded on April 27, 2019.
The copy of the Press Release is attached for your records.
Please acknowledge the receipt.
Thanking you,
Yours sincerely, For Persistent Systems Limited
MAmit Atre Company Secretary ICSI Membership Number: ACS 20507
Encl: As above
Persistent Systems Limited, Bhageerath, 402, Senapati Bapat Road, Pune 411016 | Tel: +91 (20) 670 30000 Persistent Systems Inc., 2055, Laurelwood Rd, Suite 210, Santa Clara, CA 95054, USA | Tel: +1 (408) 216 7010 CIN - L72300PN1990PLC056696 | Fax - +91 (20) 6703 0009 | e-mail - [email protected] | Website - www.persistent.com
PERSISTENT SYSTEMS REPORTS 11% GROWTH IN REVENUE FOR FY19, RECOMMENDS FINAL DIVIDEND OF INR 3 PER SHARE MAKING TOTAL DIVIDEND OF INR 11 PER SHARE
Pune, India and Santa Clara, US – April 27th, 2019:
News Summary:
Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the quarter and year ended March 31, 2019, as approved by the Board of Directors.
Consolidated Financial Highlights for the Financial Year 2018-19:
| FY19 | FY18 | Y-o-Y growth | |
|---|---|---|---|
| Revenue (USD Million) | 480.97 | 470.55 | 2.2% |
| Revenue (INR Million) | 33,659.41 | 30,337.03 | 11.0% |
| EBITDA (INR Million) | 5,805.36 | 4,687.20 | 23.9% |
| PBT (INR Million) | 4,863.39 | 4,292.61 | 13.3% |
| PAT (INR Million) | 3,516.79 | 3,230.88 | 8.8% |
Consolidated Financial Highlights for the Quarter ended March 31,2019:
| Q4FY19 | Q-o-Q growth | Y-o-Y growth | |
|---|---|---|---|
| Revenue (USD Million) | 118.30 | -2.1% | 1.2% |
| Revenue (INR Million) | 8,318.54 | -3.7% | 10.5% |
| EBITDA (INR Million) | 1,265.50 | -25.7% | 13.9% |
| PBT (INR Million) | 1,113.14 | -14.1% | 13.2% |
| PAT (INR Million) | 844.73 | -7.9% | 14.6% |
Dividend and Buyback:
The Board of Directors at its meeting concluded on April 27, 2019, recommended final dividend of INR 3.00 per share on the face value of INR 10.00 each. In January 2019, the Board declared an interim dividend of INR 8.00 per share making total dividend of INR 11.00 per share. The dividend recommended by the Board is subject to the approval of the members during the Annual General Meeting.
The Board had approved a share buyback via open market route for an amount of INR 2,250 Million at a maximum buyback price of INR 750 per share. As of April 26, 2019, the Company has purchased 2,230,113 sharesfor a total value of INR 1,421.71 Million representing 63% of the total buyback size.
Management Update:
Christopher O'Connor who joined on February 25, 2019 has been appointed by the Board as the Chief Executive Officer and Additional Director (Executive Director) with immediate effect. The Board also appointed Sandeep Kalra as President – Technology Services. He joins us on May 1, 2019.
Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems:
"I am excited to welcome the new leadership team as we initiate our next phase of growth. Enterprises continue to invest in building software defined businesses. Our investments are aligned, and client interests remain strong as demonstrated by exciting new projects and opportunities."
Christopher O'Connor, CEO, Persistent Systems:
"It's been an exciting first 60 days of meeting customers and colleagues. I've been impressed at the breadth of our work, thoughts and operations. Persistent's highly skilled and motivated team distinguishes itself by delivering business-critical software solutions to global customers across the industry. With all the foundational elements in place, we are well poised for growth in the new year."
Business Highlights and Awards:
- Persistent Systems recognized as 'Rising Star' for Salesforce Sales & Service Cloud in ISG Provider Lens™ 2019 – Quadrant Report
- Persistent Systems featured amongst "Innovators" in Avasant's Internet of Things Services RadarView 2019 research report
- Zinnov positions Persistent Systems amongst the leading players in 'Zinnov Zones for Digital Services – 2019' Report
- Co-organized the Software Edition of Smart India Hackathon 2019
Customer and Partner Highlights: (www.persistent.com/customers-speak)
- Persistent and Mambu join hands to aid Bayport in using technology to bring banking to the underserved in Africa
- Building the Digital Bank of the Future: Persistent and Piraeus Bank join hands
- Persistent Systems helps Gojoko build the Credit Union Market in the UK
- St John transforms community service with Salesforce and Persistent
- Persistent Systems and Salesforce help Floral Image brighten offices and bring smiles around the world
- Atlantis Beach implements Salesforce with the help of Persistent Systems
Key wins during the quarter
• Product engineering for a global, analytics, business Intelligence and data managementsoftware provider
- Engineering partnership for building next generation liquid chromatography data systems for a global diagnostics and life science research corporation
- Engineering ownership of an encryption, data security and privacy solution for a US-based global software major
- Strengthening the security experience of customer-centric web portals for a US-based bank
- Product engineering around analyticsfor the world'slargest immigration software company
- Data strategy and integration engagement for the world's largest food and beverage company
- Platform-led value-based care solution for a health benefits management services company in the US
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:
| Saviera Barretto | Pulkit Grover | Ken Montgomery |
|---|---|---|
| Archetype | Persistent Systems | Persistent Systems (US) |
| +91 84249 17719 | +91 86696 70068 | +1 949 939 5164 |
| [email protected] | [email protected] | [email protected] |